Here’s what awaits Polygon (MATIC), Solana (SOL) and Cardano (ADA), according to Top Analyst

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

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

[MATICs] held up relatively well between $0.70 and $1.00. But we are just starting to get this slight breakdown now with the lower highs forming here on MATIC on the weekly chart…

And I would probably put some stops in play below that $0.70 level because that could then take us back to those $0.57 highs and potentially test some of the lows around $0.30 to $0.40 . But one step at a time. Those lows are breaking here, likely returning towards the mid $0.50-$0.60 on MATIC.

Source: Jason Pizzino/YouTube

Looking at Solana, he says Ethereum’s rival (ETH) never really recovered from the FTX crash and could drop to $8 or $9.

For Solana, we are looking at a slow grind zone if the market can hold here at $12, $13 or $14. But it looks like it is trying to retest that low at $11. Otherwise, if it could have rebounded from the FTX scandal quickly enough, it would have been the healthy recovery here above the $25 level. But, nevertheless, it will probably go down again.

It’s probably going to head into that “HODLer Tears” section if $11 is pulled out at this point… So far that’s a full 95%-96% loss from the all-time high… If we go back to those lower levels , somewhere between that $8 and $9, you start getting a 97% loss.”

Source: Jason Pizzino/YouTube

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

Pizzino also says that ADA should drop further just below $0.20 before finding support.

I would look closer at the teenagers towards the $0.20 area… We will wait to see if this eventually forms a bottom pattern and then a breakout to the upside.

All in all, it’s going to take a long time for a lot of these cryptocurrencies. They hardly tried to test the downtrend of the bear market on the logarithmic [chart]and for the linear [chart] they continue to break down to test previous resistance levels. We’re basically sitting in no man’s land right now for ADA. So it’s going to be a little more painful here over the coming weeks and months.

Source: Jason Pizzino/YouTube

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

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