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 appears for stability.
Starting with Cardano, the strategist tells his 70,800 Twitter followers that ADA is dealing with resistance at $2.30 after failing to reclaim that degree final week.
“Remember how I’ve mentioned the importance of $2.30 for $ADA?
Two weeks in the past, we received a weekly shut beneath $2.30.
Buyers tried to reclaim the extent final week however finally failed.
That means $2.30 continues to be resistance on a weekly closing foundation.
It’s that straightforward.”
After breaking down beneath $2.20, the sensible contract platform has fallen greater than 5% to $2.07 at time of writing, in accordance to CoinGecko. Bennett says the $2.00 price ticket may very well be the final line of assist earlier than seeing an extra breakdown.
“$ADA, potential breakdown of the 4-hour channel I discussed over the weekend. No retest but.
$2 continues to be the should maintain degree for bulls. Below that, and issues in all probability get ugly.
As for Litecoin (LTC), Bennett expects one other leg down to the $105 to $108 vary if bulls can’t maintain the road at $145.
“$LTC is about to take a look at $145 assist once more.
A day by day shut beneath that opens up the $105 space.
MO of the top and shoulders is $108.”
Finally, Bennett offers his evaluation on Polkadot (DOT). Last week, he speculated that DOT may head again down in the direction of $12.50 if the top and shoulder sample on short-term time frames performs out.
At time of writing, DOT is trading at $26.82, in accordance to CoinGecko, simply above the $26 neckline Bennett identified.
Notice the place $DOT bounced over the weekend. No shock there.
Looks to be coming in for an additional retest.
— Justin Bennett (@JustinBennettFX) September 27, 2021
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