The post 2 Cryptocurrencies You Must Sell and 1 You Must Buy Heading into October 2024 appeared on BitcoinEthereumNews.com.

Many cryptocurrencies are seeing a change in fate as October 2024 approaches. Some tokens have a bearish trend, but others appear to have growth potential. Here, we talk about two cryptocurrencies that investors must sell: Cardano (ADA) and, Solana (SOL), and Rexas Finance (RXS), which is a great place to acquire. Sell: $2 Billion Sell-Off Risk for Cardano (ADA) Presently, Cardano (ADA) is in a risky situation as short-term investors consider a possible $2 billion sell-off. Because ADA hasn’t been able to overcome the crucial $0.39 resistance level, market concern is growing. With a little rise of 0.19% over the past day, ADA is currently trading at $0.3323. Its price has, however, declined 1.65% over the last month and by 2.44% over the past week, which fuels a negative prediction of the near future. It appears from the consolidation between $0.31 and $0.39 that ADA is having trouble building up enough steam for a breakout. Short-term ADA holders have a higher chance of profiting than long-term holders, according to Market Value Realized Value (MVRV) statistics; the current MVRV long/short difference is -20%. Approximately $1.9 billion worth of 5.7 billion ADA tokens are held by short-term investors, who plan to sell as soon as a profit is indicated. Should this significant amount of ADA supply enter the market, it may cause ADA to plunge precipitously, below its crucial support level of $0.31. If ADA is unable to recapture its bullish momentum, analysts estimate that it could fall in value by up to 33 percent. The altcoin is now a high-risk investment due to its failure to gain traction and its flat or declining value. Given the gloomy forecast for the market, investors may be able to prevent additional losses by selling ADA at this time. Sell: Weak On-Chain Metrics Indicate a…

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Filed under: News - @ September 21, 2024 12:15 pm