The cryptocurrency markets have been highly volatile over the past few weeks, with many coins seeing significant price swings. Cardano (ADA), Solana (SOL), and Fantom (FTM) are all at risk of dropping by up to 50% in value over the next week, making them particularly vulnerable to market fluctuations.
Cardano (ADA)
The analyst has predicted that ADA prices will decline by at least 50%. Furthermore, Pizzino thinks Solana and Fantom could lose up to half their value. The analyst believes that the altcoins will have a tough time recovering from the crash.
Source: Tradingview
Even Cardano has not recovered from the recent downturn, which is why it may also have a tough time staying above its current support level. ADA/USD broke below this support recently, causing speculators and investors to become more cautious about investing in Cardano. This could lead to even lower prices for ADA if the bears regain market control.
There is still hope for Cardano and other altcoins. Analysts believe the market will recover from this downtrend as more institutional investors enter the crypto space. This could boost sentiment and lead to an uptrend for ADA, Solana, and Fantom. So it might be best to stay patient during these difficult times and keep a close eye on ADA prices in the coming weeks.
Fantom (FTM)
Fantom also looks vulnerable in the near term due to its technical indicators being bearish. The recent bearish momentum seems to have been triggered by negative sentiment around cryptocurrencies, and Fantom is no exception here. FTM/USD also broke below its crucial support level, and if there are no signs of a reversal soon, the price could drop to $0.15.
Source: Tradingview
However, it is also possible that Fantom could continue to fall even lower if the negative sentiment persists. This may be a good time to stay on the sidelines until more positive news about Fantom and other altcoins. Nevertheless, investors should keep an eye on FTM/USD in case of any sudden price movements that may signal a change in trend.
Solana (SOL)
Solana has also been closely tracking other altcoins recently, and it seems to be following their lead as well. SOL/USD broke below its support level a few days ago, indicating that the price might drop to $20 soon. However, Solana may also have difficulty recovering from this sell-off if the market sentiment remains negative for cryptocurrencies.
Source: Tradingview
That said, analysts believe that we may see an uptrend for altcoins such as Solana once institutional investors enter the space in more significant numbers. For now, it is important to stay cautious about investing in Solana or any other altcoin until there are clear signs of improvement across the market. In the meantime, you can keep a close eye on SOL/USD to see if there are any changes in price trends.
Conclusion
As you can see, the crypto market has been volatile as of late, and investors need to stay informed about their favorite altcoins to make the best trading decisions. Whether or not Cardano, Solana, and Fantom will recover from the current downtrend remains to be seen, but it is important to keep a close eye on their price movements in the coming weeks.
