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 step by step since topping out just below $53,000 in early September. Bennett expects decrease altcoin costs within the quick time period as BTC seems 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.
“Bear in mind how I’ve mentioned the importance of $2.30 for $ADA?
Two weeks in the past, we received a weekly shut beneath $2.30.
Patrons tried to reclaim the extent final week however in the end failed.
Meaning $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 accordance with 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 stage for bulls. Beneath that, and issues in all probability get ugly.
As for Litecoin (LTC), Bennett expects one other leg all the way 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 every day shut beneath that opens up the $105 space.
MO of the top 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 top and shoulder sample on short-term time frames performs out.
At time of writing, DOT is trading at $26.82, in accordance with CoinGecko, simply above the $26 neckline Bennett identified.
Discover the place $DOT bounced over the weekend. No shock there.
Appears to be coming in for an additional retest.
— Justin Bennett (@JustinBennettFX) September 27, 2021
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