The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s What’s in Store for Polygon (MATIC), Solana (SOL) and Cardano (ADA), According to Top Analyst

by Daily Hodl Staff
December 21, 2022
in Altcoins, Trading

Popular crypto trader Jason Pizzino is updating his outlook on Polygon (MATIC), Solana (SOL) and Cardano (ADA).

In a new video update, Pizzino tells his 279,000 YouTube subscribers that blockchain scaling solution Polygon could see a more than 30% decline from its current price of $0.798 if it takes out a high timeframe support level.

“[MATIC’s] been holding up relatively well between $0.70 and $1.00. But we’re just starting to get that slight breakdown now with the lower tops forming here on MATIC on the weekly chart… 

And I would probably be setting some stops in play underneath that $0.70 level, because that could then shoot us back down to these peaks of $0.57 and potentially testing some of the lows around the $0.30 to $0.40. But one step at a time. These lows break here, probably going to head back towards the mid-$0.50s to $0.60 level on MATIC.”

Source: Jason Pizzino/YouTube

Looking at Solana, he says the Ethereum (ETH) rival never really recovered from the FTX collapse and may plummet to the $8 or $9 range.

“For Solana, we were looking at a slow grind area should the market be able to hold up here at $12 or $13 or $14. But it looks like it is trying to test this low again at $11. Otherwise, if it was able to bounce quite quickly after the FTX scandal, this would have been the healthy recovery here above the $25 level. But, nonetheless, this is probably going to head back down.

This is probably going to head into that ‘HODLer Tears’ section if $11 is taken out at this point… It’s at so far a 95% to 96% complete loss from the all-time high … If we go back to these lower levels, somewhere between that $8 and $9, you start to get around a 97% loss.”

Source: Jason Pizzino/YouTube

At time of writing, Solana is trading hands at $12.19.

Pizzino also says ADA is likely to decline further to just below $0.20 before finding support.

“I’d be looking closer towards the teens to the $0.20 area… We will wait to see whether this gets a bottom pattern forming eventually and then a breakout to the upside.

Overall this is going to take a long time for a lot of these cryptocurrencies. They have barely tried to test the bear market downtrend on the logarithmic [chart], and for the linear [chart] they continue to breakdown to test previous resistance levels. We’re basically sitting in a no man’s land right now for ADA. So it’s going to be a fair bit more pain here involved over the coming weeks and months.”

Source: Jason Pizzino/YouTube

At time of writing, ADA is changing hands at $0.255.

I

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/X-Poser/Sol Invictus

Submit a Press Release

Industry Announcements

  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,422.28
$23,422.28
0.79%
Ethereum
$1,663.60
$1,663.60
0.36%
Cardano
$0.403699
$0.403699
0.58%
XRP
$0.411735
$0.411735
0.17%
Dogecoin
$0.092597
$0.092597
0.62%

Spotlight

  • Whales Abruptly Move Over $150,000,000 in XRP and Dogecoin As Bitcoin Floats Above $23,000
    January 29, 2023
  • Here’s the Next Ethereum-Level Opportunity for Crypto Traders, According to Investor Who Called Bitcoin Reversal
    February 1, 2023
  • Top Crypto Analyst Sees Volatility in Store for Bitcoin, Zooms Out on One Popular Ethereum-Based DEX Token
    February 3, 2023
  • Bitcoin (BTC) Skyrocketing by Over 50% From Current Levels Is ‘Very Doable’, Says Economist Alex Kruger
    January 27, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl