- Crypto Capo, a well-known cryptocurrency analyst, has warned that the altcoin markets may be heading for a crash
- According to the crypto expert, Cardano (ADA) is clearly bearish
Popular crypto strategist Crypto Capo says he is not yet bullish on most altcoins, noting that roughly 99% of them are showing signs of an impending collapse.
Addressing his Twitter audience, the trader reflected on the recent crypto market rally. Market leader Bitcoin climbed to around $43,000 and, as often happens, numerous altcoins followed with gains.
However, the investor warned that even though altcoins have rallied during this upswing, the gains may be short-lived and could lead investors into a bullish trap.
“Some people might think I’m only looking at the downside. I will later publish many examples of altcoins that are making corrective upside moves after breaking key supports,” he said.
ADA is the clearest example, but SOL, WAVES and COTI are also in the mix
Capo specifically pointed to Cardano (ADA), Solana (SOL), Waves (WAVES) and Coti (COTI) as tokens that illustrate why he remains bearish on altcoins. He explained that ADA, for example, is showing clear rejection signs. 
Trading chart ADA/USD. Source: Crypto Capo
“One of the clearest: ADA.”
Crypto Capo also noted that SOL failed to reclaim resistance near $120 and appears to be completing a market bounce, rather than starting a sustained uptrend.
Trading chart SOL/USD. Source: Crypto Capo
Regarding COTI, the ticker for the decentralized payments platform, Capo observed strong resistance around $0.24. He also believes the recent rebounds in Waves (WAVES) and Hathor (HTR) will likely end soon.
Trading chart WAVE/USD. Source: Crypto Capo
Capo emphasized that most altcoin markets are headed for a downturn that could arrive soon. He insisted that the examples he cited reflect a broader bearish sentiment weighing on nearly every altcoin market.
“These are just a few examples, but 99% of altcoins look like this. I cannot be bullish here after the break of the entire bullish market structure + the corrective moves upward. Enjoy the short-term gains while they last, but don’t get too comfortable. Time will prove me right.”
In summary, Crypto Capo advises caution. While short rallies can occur, his technical readings suggest many altcoins remain vulnerable after breaking key supports. Traders and investors should weigh the risk of a potential reversal before assuming the current bounce represents a sustained recovery.