The crypto space has been pretty uncertain for quite a long time, with constant price variations led by multiple external factors. While the BTC price has been maintaining a minor upswing, the other altcoins are also gearing up to reach immediate resistance.
A well-known analyst, anonymously called Altcoin Sherpa, predicts the upcoming price actions of the top 3 altcoins, Cardano (ADA), Dogecoin (DOGE), & Polygon (MATIC). The analyst believes ADA price doesn’t look bullish at the moment after dropping by more than 90% from its highs. Moreover, the analyst believes the token is all set to drop by more than 40% soon.
“ADA : If this area breaks down, I don’t see another area until like $0.18 for support. Don’t see any reason to buy this one but I know ppl love it,”
Moving ahead with Dogecoin, the analyst says that the popular memecoin looks pretty attractive around $0.085 where a high volume node (HVN) resides, which is the area with high trading volume. If the DOGE price bounces to $0.085, then a surge to $0.15 with a 76% upswing could be possible.
“DOGE: Didn’t know if Elon tweeted something (I’m sure he did). I was wrong on fading that recent move but still not buying yet. About to enter this next HVN area,would be cautious between 0.12-0.15”
Meanwhile, Polygon (MATIC) in the higher time frames (HTFs) appears to be poised to ignite a steep upswing. The analyst believes the MATIC price may reach the $1 target, which is also the current potential resistance level.
“MATIC: I still think this one looks ok on HTFs, the EMAs are all lining up on the 1D and compressing. I think that the bulk move of the downside is over in the short term, expecting more chop and then a move up,”
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