Crypto Analyst Issues Warnings for Avalanche (AVAX), Polygon (MATIC) and One Additional Altcoin

Crypto Analyst Issues Warnings for Avalanche (AVAX), Polygon (MATIC) and One Additional Altcoin


A widely followed crypto analyst is issuing fresh warnings for a trio of altcoins as the markets attempts to recover from a lengthy downtrend.

The pseudonymous trader known as Altcoin Sherpa tells his 183,000 Twitter followers that layer-1 blockchain Avalanche (AVAX) and Ethereum (ETH) scaling solutions Polygon (MATIC) and Optimism (OP) are primed to see downswings.

The analyst says that bearish market conditions could push AVAX below $13 before it sparks a recovery.

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“AVAX: Overall market structure is still bearish, if this is the bottom then wouldn’t be surprised to see at least one last shakeout to $13 or lower and then recovery starts. It would look like a double bottom (chop around for several months too). Still bearish for now.”

Source: Altcoin

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