After the FTX and Alameda controversy, the Solana price dropped by 60%. Lido DAO is up 14% in the last 24 hours. But according to crypto analyst Aaryamann Shrivastava, it needs stronger bullish signals to start the recovery. Render Token has lost all of its October growth in the past three days, but has managed to stay above critical support. We have prepared for our readers the analysis and predictions of altcoins, which the analyst said should be avoided after the FTX event.
“SOL in free fall after FTX crisis”
As you follow on Kriptokoin.com, one of Alameda Research’s biggest investments was Solana. That’s why SOL was the altcoin that took the most damage after FTT. SOL price dropped from $36.9 to $14.4 in 72 hours. This 60.78% drop almost reached $12.1 where the critical support is located. Currently, the altcoin is starting a recovery along with the rest of the market. It has increased by 20.38% in the last hours. Despite this increase in buying pressure, SOL is a long way from the next critical resistance of $23.2.
LEFT 1-day chartHowever, if the bullish traction loses and SOL falls again, it is possible for the altcoin to test the 21-month support level at $12.1. There’s also the potential for even more falls.
“Lido DAO looks to recovery”
The LDO price fell by 45.26%, erasing all the growth it had recorded by the altcoin in almost four months. The token is trading at $1.04. Also, unlike other altcoins, it stands quite far from the $0.66 support line. On the upside, the first line of defense before the collision is at $1.23. This is expected to provide resistance to any recovery effort.
LDO 1-day chartOn the other hand, if the broader market falls again, $0.66 could be the next reversal zone for LDO.
“Render Token still in consolidation”
Altcoin price had a pretty spectacular month starting mid-October, when it surged 119.33%. However, investors’ dream of getting $1 back was dashed after a 53% drop in the last three days. Recently, the fate of Render has changed a bit after registering an 18.46% rebound on Nov. Now RNDR is approaching its critical resistance at $0.63.
RNDR 1-day chartEven if the broader market sentiment turns bearish again, the RNDR should see a retest of $0.32 where critical support is found. Regardless, the altcoin has technically been consolidating within the same resistance ($0.80) and support levels ($0.32) since June. Therefore, investors need to maintain a positive outlook.
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