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Popular crypto trader Jason Pizzino updates his outlook on Polygon (matic), Solana (Sol) and Cardano (ADA).
In the new video update, Pizzino To tell His 279,000 YouTube subscribers could see a drop of more than 30% from its current price of $0.798 if blockchain scaling solution Polygon pulls out support levels for higher timeframes.
“[MATICs] It has held up relatively well between $0.70 and $1.00. However, a slight breakdown is just beginning with the bottom top forming in MATIC on the weekly chart
And we will probably set some stops below the $0.70 levels. This could lead to a return to the $0.57 peak and test lows near $0.30 to $0.40. But one step at a time. These lows will break here and possibly return to the mid $0.50 to $0.60 levels on the MATIC. “
Look at Solana, he is an Ethereum (ethereum) Rivals may never really recover from the FTX collapse and plunge into the $8 or $9 range.
For Solana, we were looking at the slow grind area if the market could hold at $12, $13 or $14. Otherwise this would have been a healthy recovery above the $25 level here if we were able to bounce back very quickly after the FTX scandal. Will go back.
If $11 is taken out at this point this will probably head towards that ‘HODLer Tears’ section…so far a complete loss of 95% to 96% from all-time highs…these lower levels , somewhere between that $8 and $9 you start to lose about 97%. “
As of this writing, Solana is trading at $12.19.
Pizzino also said the ADA is likely to drop further to just below $0.20 before finding support.
I am keeping my eye on the teens towards the $0.20 areawe will wait to see if this eventually forms a bottom pattern and then breaks out upwards.
Overall, many of these cryptocurrencies take a long time.They are hardly going to test the bear market downtrend in the logarithm [chart]and for linear [chart] They continue to disassemble to test previous resistance levels. Basically, we’re sitting in no man’s land right now for the ADA. “
As of this writing, ADA is trading at $0.255.
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