Bitcoin fell from its all-time high two days ago after the launch of the first US bitcoin futures exchange-traded fund, causing cryptocurrency prices to plummet today. BTC went down 4% to $62,740.
Ethereum price was down over 2% at $4,112. Cardano price dropped nearly 3% to $2.16, while dogecoin prices dropped 3% to $0.24. Other digital tokens such as Shiba Inu, Binance Coin, Litecoin, Uniswap, and XRP have all had price drops in the previous 24 hours, but Solana Price is up over 10%.
A popular crypto analyst is mapping out some big price predictions for three large-cap altcoins. The pseudonymous trader Inmortal tells his Twitter followers that in order for the crypto market at large to remain bullish, Bitcoin (BTC) now needs to hold above $61,000.
Ethereum ( ETH )
The second-largest crypto, Ethereum, successfully hit ATH and cleared the $ 4,200 level. ETH Price even surpassed $4,350 but failed to break the $4,400 resistance. Before the downside correction, a high was formed near $4,375.
Currently, Ethereum’s price is now trading at $4139 down by 0.7% in the last 24 hours. The altcoin is still below the $4,200 resistance level. In case the price drops more, it could find support near $4,050 and $4,000.
Inmortal forecasts that Ethereum (ETH), the dominant smart contract platform, would break out from its current price of $4,110 to $6,300 by the middle of November.
Cosmos( ATOM )
In the last 24 hours, ATOM’s price is showing signs of bullish sentiments currently trading at $35.40. The altcoin is all set to test the resistance point, at $37.09. In case the ATOM/USDT breaks this level, we can expect a rally above $40 and Hit ATH.
On the flip side, if the price drops below the $33.82-mark, traders can expect a buying opportunity at $30 which is the major support level.
According to Inmortal, ATOM is worth accumulating as the altcoin is currently consolidating. He believes the crypto asset will trade sideways until early next month, when the resistance at roughly 0.00063 BTC [$39.92] will turn to support, sparking a rise to 0.00094 BTC [$59.56].
FTX ( FTT )
The FTT Price is Currently trading at $64.72 with a more than a 6% surge. It seems that if the bulls hold the control the altcoin might test the resistance levels at $70.88 and $75.09. If the price breaks above these two levels, the $85.33 Level will come to play.
On the flip side, If the FTT price fails to hold above the $60 level or fails to retrace minor correction the altcoin might plunge to a potential low of $51.
Inmortal is also anticipating a substantial increase in the price of FTX Token (FTT), the crypto exchange FTX’s utility token. According to the trader, The accumulation period for FTT has already ended.
By November 10th, he believes the coin will have risen from its present price of around $65.00 to at least $100.