LDO, ADA, APT, SOL, and MATIC

This week, we take a closer look at the worst-performing altcoins with a market cap of more than $1 billion: Lido, Cardano, Aptos, Solana, and Polygon.

Lido (LDO) | -24.8%

LDO is the worst performer on our list this week after dropping nearly 25%. Buyers failed to sustain the uptrend and with the $2 support missing, the price was quick to crash.

At the time of this post, the most important support level is found at $1.4 and resistance at $1.8. Given the market sentiment, the price is unlikely to change its current bearish momentum.

Looking ahead, Lido appears to be continuing the correction that started in February. With lower lows and lower tops, the bears have the upper hand and may not stop their attack until the price reaches the key support level indicated above.

Cardano (ADA) | – 20.9%

ADA disappointed across the board in June, and this week alone, it lost 20% of its valuation. Those who had hoped the support at 30 cents would hold were let down as the price suddenly fell to 22 cents on June 9th. Since then, the price has rebounded somewhat.

At this time, the sellers have complete control over the price action, and they aim to move this cryptocurrency to the key support at 24 cents. The current resistance is at 28 cents.

I look forwardThis major correction seems to be gaining speed, and this confuses most ADA holders. Buyers are expected to return once the price reaches a key support, similar to June 9, but there are no guarantees.

Aptos (APT) | -20.4%

APT failed to stop its downtrend and is down 20% this week. In the process, it formed a large descending triangle which was confirmed with the decline on June 9th. This is worrying and bearish at the same time.

If the support at $5.5, which forms the base of this large triangle, does not hold, APT buyers may find themselves in a difficult situation, because such a scenario will open the way for the price to drop towards $3 again. The current resistance is $6.8.

Looking ahead, APT gives no clear signs that it can stop this correction. What’s more, both Bitcoin and Ethereum also posted lower lows which reaffirms the bearish bias of the market at this time.

Solana (The Sun) | -20.2%

Solana has similar price action to Cardano and also fell by 20% last week. Buyers are currently struggling to keep the price above $14, and as the downtrend continues, they are unlikely to succeed at this time.

The sudden drop in price also formed a parabola as shown in the chart below. The main support is found at $12, which has a good chance of retaining sellers if it is reached. The current resistance is at $15.

Looking ahead, Solana does her best to stop the bleeding, but the buyers remain uninterested.

Polygon (Matic) | -19.4%

The polygon formed a huge wedge, and unfortunately the price fell below it. This is bearish, and MATIC did not hesitate to show it as it lost 19% of its valuation this week.

Current support was found at 58 cents, and the bulls may return at this level since the June 9 low saw buyers return once the price fell below 60 cents. The current resistance is 75 cents.

Looking ahead, MATIC may soon test a major support, which may halt this bearish momentum. It is very important for this cryptocurrency to stay at this level like. Otherwise, sellers can be encouraged to take the price 50 cents lower in the future.