What cryptocurrency may soon fall in price. The analyst named three tokens

What cryptocurrency may soon fall in price. The analyst named three tokens

The opinions of experts may not coincide with the position of the editorial board. RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Trader and analyst Justin Bennett warned that three altcoins could enter a correction in the near future. According to Bennett, the cost of Ethereum, Cardano and Solana may decrease.

Ethereum

On September 16, Ethereum is trading at $ 3.6K. Altcoin’s key support level is around $ 3.2K., analyst says. He advised to closely monitor the quotes of the digital coin, since if the key support level is broken, the price of the altcoin may drop below $ 3 thousand.

If Ethereum overcomes the accumulation stage in the $ 3.6-3.7 thousand zone., then he will be able to continue to grow, added Bennett.

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Over the past month, altcoin has risen in price by 12%, and its capitalization has increased to $ 427 billion, according to CoinGecko.

Cardano

Trader thinks Cardano is in a precarious position right now. On the altcoin chart, a round top pattern from the technical analysis formed, and the coin broke the lower border of the ascending channel, Bennett explained. According to him, the cryptocurrency needs to gain a foothold above $ 2.55 in order to continue the upward trend. Otherwise, the token will begin to decline to $ 2, the analyst predicted.

A round top in technical analysis indicates a possible end to an uptrend at the beginning of a downtrend.

Cardano is trading at $ 2.48 on September 16. Over the past month, altcoin has risen in price by 30% and updated its all-time high at $ 3. The asset took the third position in the list of the largest cryptocurrencies in terms of capitalization ($ 79.6 billion).

Solana

The closest key support level for Solana is at $ 150, the trader explained. In his opinion, if the altcoin fails to stay above this level, then its value will begin to decline until the next support, which is around $ 129. In case of breaking through this level, the Solana price could fall to $ 102, Bennett predicted.

Over the past month, Solana has risen in price by 145% and took seventh place in the list of the largest cryptocurrencies in terms of capitalization ($ 47.2 billion). On September 9, altcoin renewed its all-time high at $ 213.