Leading cryptocurrency analysts evaluated the current altcoin prices. Accordingly, analysts expect an altcoin project to gain great value. However, they also issue warnings about some altcoins. According to analysts, 3 cryptocurrencies, which are among the popular altcoins, are preparing for a big drop. Let’s take a closer look at these cryptocurrencies and the expectations of analysts.
Poppe: “This altcoin is poised to take off”
The leading cryptocurrency analyst said that the price is poised to explode in an altcoin project. Michael van de Poppe shared his views on his Twitter account, which has 614,000 followers. The expert talked about Binance Coin (BNB), the native token of the world’s largest crypto exchange Binance. According to him, Binance Coin is among the cryptocurrencies that will perform well in the current bear market. He says BNB has an attractive market structure. It also warns investors that BNB will soon go on a bull run. Accordingly, Binance Coin bulls have the potential to rally in the $215 to $211 price range. Additionally, Poppe adds that it is possible for the altcoin to rally up to 20% from its current price and reach $256:
“On the USDT vs BNB pair, when it comes to looking at longs, it is potentially the only cryptocurrency I would look at. We were refusing right now but we are actually gaining a level. I want to see a level earned here to see more. So, I think it makes sense to start looking at the $216 to $215 range here over the long term. Maybe you can start looking at $211 if you’re a little more defensive. However, it is the only altcoin that has potential right now.”
Bennett: “Dogecoin could drop to these levels”
Justin Bennett, another prominent cryptocurrency analyst, warned investors. The expert mentioned three altcoin projects in his post on Twitter: DOGE, VET and SOL. The analyst first mentioned DOGE to his 101k followers. Accordingly, Dogecoin has emerged from the rising wedge pattern and will go down. The analyst predicts that the aforementioned drop will drop the altcoin 47% from its current price of $0.66. This decrease coincides with the price seeing an average of $ 0.35.
“These 2 altcoins are also giving bearish signals”
Expressing his opinions about VeChain after the Dogecoin price, Bennett announced his decline forecast. Accordingly, VET coin was unable to continue its current inverted head and shoulders pattern. Therefore, the altcoin is now signaling an intense bearish. However, the decline is due to the loss of a support. According to Bennett, if VET breaks below the $0.022 range, a 37% drop will be cleared. This drop, which is likely to occur at the current $0.022 price, will take the altcoin’s value to $0.016.
Then, the analyst announced the latest altcoin project, which he expects to drop. Accordingly, Solana, known as the “Ethereum Killer”, seems to lose value as well. Analyzing the weekly price movements of the SOL, Bennett predicts that a retest of the $20 support is likely. However, this drop will be possible as Solana fails to break the key resistance levels at $37.40 and $39.25 in the coming weeks. The analyst’s prediction came after the altcoin broke out of an ascending channel last week. cryptocoin.com As we reported, SOL has turned the cross support of the channel into resistance. At the time of writing, SOL is trading at $32.96. If the price drops to $20, that would mean a 37% drop in value.
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