The post Altcoin Crash: Cardano(ADA), Solana(SOL), Fantom(FTM) Might Drop 50% in Coming Week appeared first on Coinpedia Fintech News
The crypto market has had a negative week, with Cardano and Solana faltering due to network news and hacks. US CPI Rates anxiety increased market stress. The total crypto market cap plunged by $30.4 billion to $876.3 billion.
On October 16th, Major cryptocurrencies were trading in the red early during early Asian trading hours. Seems like the bears are still holding the upper hand, Crypto strategist Jason Pizzino in his recent video issued a warning for 3 altcoins: Cardano, Solana, and Fantom
Despite Cardano’s recent fundamental development, Analyst predicts that ADA might trigger another sell-off if it fails to hold a crucial support level.
In regards to Solana (SOL), another smart contract technology, the crypto expert predicts “further difficulties” if the price of this competitor to Ethereum (ETH) drops below the $29 mark.
Pizzino also references the smart contract-enabled blockchain Fantom (FTM), which he predicts could decline further like “most altcoins.”
Fantom has recently tested new lows ($0.2062) It appears to be quite frail. But from the high to the current low, there has been a 94.6% decline.
In his conclusion, Pizzino noted that there is a significant possibility for less well-known coins to gain market momentum in the upcoming months because all the major altcoins are anticipated to fall:
“For most altcoins, I believe there is still a good deal of time left. It could therefore fall anyplace below that $0.10 if this were to decline a little bit more. The price is at $0.20, thus another 50% off the present level will be achieved.
At the time of writing, the price of Fantom is $0.2085.