These 3 Altcoins on Binance Could Drop Steeply!

Analysts predicted more corrections for 3 altcoins as its market tries to recover slightly. LTC, BNB, and Ethereum will be the coins we will be reviewing in this article.

Pay attention to these 3 altcoin charts, double digit correction is ready

Litecoin price is trading within a bearish flag pattern, which is bearish. The pattern predicts LTC price to drop 64% to $19.74. Litecoin price has already lost around 7% since it went off the flag on September 16. It is currently hovering at $53. Going forward, investors need to watch Bitcoin for clues about what might happen to LTC.

While the bear flag predicts a 64% collapse, a drop of this magnitude is unlikely without Bitcoin falling equally. Therefore, while this is the case, investors should instead prepare for a more moderate 20% crash. In this case, LTC price will correct to $41.66 in the first place.

While things are looking bearish for the Litecoin price, that will change if Bitcoin triggers an early rise. In such a case, if LTC produces a daily candlestick above $64.43, it will invalidate the bearish thesis. This improvement in Litecoin price will help it test new highs at $74.47. Analyst Akash Girimath says a 20% retracement is reasonable in this possible scenario.

Analysts sounded the alarm for BNB Coin

Binance Coin price has managed to produce equal lows of $241 and $257 since August 10. The last two bottoms reveal a descending triangle. Now, another drop at $257 will confirm a pattern that predicts a 13% drop. The theoretical forecast method reveals a target of $224.

While this target may seem a bit far-fetched, traders can expect a drop from $269 to $243, a 10% drop from the current position, according to analyst Girimath. Therefore, traders need to pay close attention to the $257 price response on the BNB chart.

On the other hand, if the Binance Coin price absorbs the incoming selling pressure and overcomes it with a surge in bullish momentum, things will turn for the better. If it produces a daily candlestick above $301, it will invalidate the bearish thesis. Thus, it will change the course in favor of the bulls. However, after this move, the bulls need to maintain the momentum to push BNB price to $337.

Ali Martinez predicts a steep correction in leading altcoin

The on-chain analyst shared a chart that, according to him, could face a steep price drop. The chart shows that the number of Ethereum wallets has dropped significantly over the past 24 hours. That’s a drop of more than 50% overall. Martinez noted that if the amount of new wallets drops, it usually means a price correction over time.

cryptocoin.comAs you follow, Ethereum is trading at $1,335.23 at the time of writing. Along with Bitcoin, they have failed to stay above critical resistances.

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