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

  • Posted by: gitechnologies
  • Category: Articles

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

Trader Justin Bennett noticed signs of a possible correction on the top 10 altcoin charts by capitalization

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.

Author: gitechnologies

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