- $LTC is poised to test $145 support again.
- Bennett predicts Litecoin (LTC) to drop to $105-$108 level.
The bulk of significant cryptocurrencies are up. The total market value of cryptocurrencies is $1.9 trillion, up 3.69 percent in 24 hours. The total cryptocurrency market volume fell 0.07 percent to $91.84 billion in the past 24 hours.
While the market flourishes, crypto analyst Justin Bennett updates us on Cardano (ADA), Litecoin (LTC), and Polkadot (DOT). BTC has been falling since early September, when it reached about $53,000. Bennett anticipates falling cryptocurrency prices as bitcoin seeks stability.
Cardano (ADA)
The layered blockchain team claims that their technology has proven helpful in developing decentralized applications and smart contracts.
The analyst tells his 70,800 Twitter followers that Cardano is approaching $2.30 resistance after failing to regain it last week. He remembers discussing the value of $2.30 for $ADA. Last week, buyers tried but failed to recover the level. So, he argues, $2.30 is still resistance.
Notice where $DOT bounced over the weekend. No surprise there.
Looks to be coming in for another retest.
No change to last week’s comments. https://t.co/IdP5PF3drM pic.twitter.com/QJx6v54xmT
— Justin Bennett (@JustinBennettFX) September 27, 2021
As per data, that the smart contract platform has fallen over 5% to $2.07 after dropping below $2.20. Bennett thinks the $2.00 price tag is the market’s final line of defence. According to CoinMarketCap, Cardano price today is $2.10 USD with a 24-hour trading volume of $2,679,828,635 USD.
Litecoin (LTC)
The cryptocurrency is based on the Bitcoin (BTC) system, but its hashing algorithm, hard cap, block transaction timings, and other features vary. If bulls can’t hold $145, Bennett predicts Litecoin (LTC) to drop to $105-$108 level.
$LTC is about to test $145 support again.
A daily close below that opens up the $105 area.
MO of the head and shoulders is $108. pic.twitter.com/f3OwPQKsXI
— Justin Bennett (@JustinBennettFX) September 27, 2021
$LTC is poised to test $145 support again, he says. For daily closes under $105, the area becomes accessible. He says that the head and shoulders MO are at $108. According to CoinMarketCap, Litecoin price today is $151.98 USD with a 24-hour trading volume of $2,577,435,397 USD.
Polkadot (DOT)
Polkadot’s native DOT coin has three functions: network governance, network operations, and bonding parachains.
Remember how I’ve discussed the significance of $2.30 for $ADA?
Two weeks ago, we got a weekly close below $2.30.
Buyers tried to reclaim the level last week but ultimately failed.
That means $2.30 is still resistance on a weekly closing basis.
It’s that simple. pic.twitter.com/6PZBajzL21
— Justin Bennett (@JustinBennettFX) September 27, 2021
Bennett ends with Polkadot (DOT). He said last week that DOT might go below $12.50 if the head and shoulders pattern holds. According to CoinMarketCap, DOT is now trading at $28.08, up 2.29 percent in the past day.
The post has appeared first on thenewscrypto.com
