Crypto market analyst Justin Bennett is giving an replace on his outlook for Cardano (ADA), Litecoin (LTC), and Polkadot (DOT).
Bitcoin has been promoting off regularly since topping out slightly below $53,000 in early September. Bennett expects decrease altcoin costs within the brief time period as BTC seems to be for stability.
Beginning with Cardano, the strategist tells his 70,800 Twitter followers that ADA is going through resistance at $2.30 after failing to reclaim that stage final week.
“Keep in mind how I’ve mentioned the importance of $2.30 for $ADA?
Two weeks in the past, we bought a weekly shut beneath $2.30.
Consumers tried to reclaim the extent final week however in the end failed.
Which means $2.30 continues to be resistance on a weekly closing foundation.
It’s that easy.”
After breaking down beneath $2.20, the good contract platform has fallen greater than 5% to $2.07 at time of writing, in line with CoinGecko. Bennett says the $2.00 price ticket could possibly be the final line of assist earlier than seeing an extra breakdown.
“$ADA, potential breakdown of the 4-hour channel I discussed over the weekend. No retest but.
$2 continues to be the should maintain stage for bulls. Beneath that, and issues most likely get ugly.
As for Litecoin (LTC), Bennett expects one other leg right down to the $105 to $108 vary if bulls can’t maintain the road at $145.
“$LTC is about to check $145 assist once more.
A day by day shut beneath that opens up the $105 space.
MO of the pinnacle and shoulders is $108.”
Lastly, Bennett offers his evaluation on Polkadot (DOT). Final week, he speculated that DOT might head again down in the direction of $12.50 if the pinnacle and shoulder sample on short-term time frames performs out.
At time of writing, DOT is trading at $26.82, in line with CoinGecko, simply above the $26 neckline Bennett identified.
Discover the place $DOT bounced over the weekend. No shock there.
Seems to be to be coming in for one more retest.
— Justin Bennett (@JustinBennettFX) September 27, 2021
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