These 3 Altcoins Can Be Crashed! Those Bottoms Are Visible

Altcoin: Justin Bennett, a cryptocurrency analyst, shared his negative comments on three altcoin projects. The analyst warns investors on Ethereum (ETH), Polkadot (DOT) and Chainlink (LINK). Here are the details…

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Analyst warns altcoin investors

A widely followed crypto strategist and trader warns that Ethereum (ETH), Polkadot (DOT) and Chainlink (LINK) are yet to correct. Analyst Justin Bennett told his 101,300 Twitter followers that Ethereum may be trading in a descending channel. This, in turn, may indicate more negativity for ETH. The analyst uses the following statements:

Spurious moves on one side of a pattern often trigger extended moves in the opposite direction. ETH is a perfect example of this. On the 15th, fake move above $1,200 and bearish today. $900 and $780 support. Ethereum will likely visit the second level.

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Next up is Polkadot. According to Bennett, the DOT may have broken out of a symmetrical triangle pattern and hit its bearish target at $5. According to the analyst, the DOT is showing resistance in the $7 range. The target measured in the last triangle is $5. Polkadot is an open-source fragmented multi-chain protocol that connects and secures a private Blockchain network that facilitates the cross-chain transfer of not only tokens but any type of data or asset, thus allowing Blockchains to be interoperable with each other. Polkadot is designed to provide a foundation for a decentralized blockchain internet, also known as Web3.

What’s next for LINK?

The last coin on the investor’s radar is Chainlink, which Bennett says looks poised for a fresh dip after breaching its cross support on lower timeframes. According to the analyst, LINK is heading towards $4.60. The coin is changing hands close to $7 at the time of writing. AmkNews.com Founded in 2017, Chainlink is a Blockchain abstraction layer that provides universally connected smart contracts.

Through a decentralized oracle network, Chainlink allows it to interact securely with non-Blockchain data feeds, events, and payment methods, providing the critical off-chain information complex smart contracts need to become the dominant digital contract format. The Chainlink network is driven by a large selection of open source data providers, node operators, smart contract developers, researchers, security auditors, and more.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.