Crypto Space May Be in for New Round of Pain, Fundstrat Says
- Small-cap coins seen as particularly vulnerable to drop
- For Bitcoin, key level to watch is $3,100, strategist says
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As if cryptocurrencies haven’t been through enough already, they may be poised for yet another leg down.
Digital currencies are on track to retest their fourth-quarter lows in a weak technical position, Fundstrat Global Advisors strategist Robert Sluymer said in a note Wednesday. A proprietary gauge of market breadth in the space shows smaller coins are most at risk, he added.