Top crypto analysts warn that Cardano (ADA) and two other Ethereum (ETH) competitors may continue to face significant downside risks.
A pseudonym trader known as Capo, starting with the smart contract platform Cardano To tell His 246,200 Twitter followers say that the ninth largest cryptocurrency by market capitalization is in the “very bearish” territory after converting the support area, which has a price of around $ 1.05, to resistance levels.
“ADA.
The story continues.
The main level is broken and is currently being tested as a resistor. Below that, this is very bearish. “
Cardano (ADA) is currently trading at $ 0.89 at the time of writing.
Next is Ethereum Challenger Solana (SOL), a blockchain focused on fast and cheap transactions.
Capo is Solana Encounter It is a “very strong” downtrend and can fall by more than 70% from current levels.
“Sol.
Given that the bullish parabola is completely broken and the downtrend is very strong, this year’s $ 20-25 will not go crazy. “
Solana (SOL) is trading at $ 93.39 at the time of writing.
Next is the native token of Fantom (FTM), a smart contract-enabled blockchain that aims to overcome scalability limitations.
trader To tell FTM could crash up to 95% after an exponential rise from a record low of about $ 0.0017 in March 2020 to a record high of $ 3.48 in October 2021 I have.
“Some people are unaware that altcoin like FTM has risen 200,000% from its March lows. Do you know what it is? It will increase 2,000 times in less than two years.
A 90-95% (bare market) fix from the top is what usually happens after this is done. Then the bullish trend continues. “
Fantom (FTM) is trading at $ 1.81 at the time of writing.
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