The post Altcoins To Plunge: Analyst Predicts Major Downturn For MATIC, ETH & BNB Price appeared first on Coinpedia Fintech News
From inflation shocks to meme coin mania, the cryptocurrency world sees a week of surprises.
As the crypto market continues to experience a downturn, prominent analyst Bluntz warns investors about the potential downside for altcoins. Let’s delve into Bluntz’s analysis and predictions for Polygon (MATIC), Ethereum (ETH), and Binance Coin (BNB).
MATIC On The Decline
Polygon (MATIC), the Ethereum-based layer-2 scaling solution, is losing its high time frame structure, according to Bluntz. He notes that MATIC is breaking down from a 12-month bear flag and has just closed solidly below a year-long channel, indicating a further descent. Bluntz predicts that MATIC could potentially drop by as much as 54% from its current levels, setting a range of $0.40 to $0.50 as a more realistic target. At present, MATIC is trading at $0.869.
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