Cardano

Bonk

Polygon

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<ul class="wp-block-list">
 <li>October shows mixed crypto signals; experts advise avoiding BONK, Polygon (POL), and Cardano (ADA).</li>  
 <li>BONK faces volatility; analysts predict potential further declines and uncertain price movements.</li>  
 <li>Polygon and Cardano display bearish trends, with significant losses for many investors.</li> 
</ul>  
<p>October started off rocky as the <a href="https://cryptonewsland.com/bitcoin-consolidates-near-67000-as-global-markets-show-mixed-performance/" rel="noopener noreferrer nofollow">crypto market flashed mixed signals</a> due to rising tensions between Israel and Iran. Fortunately, conditions have improved, bringing some hope for recovery. While a few altcoins look promising, others struggle. Specifically, BONK, Polygon (POL), and Cardano (ADA) show bearish trends. Experts recommend avoiding these coins to protect your portfolio.</p>  
<h2 class="wp-block-heading" id="h-bonk-wild-swings-with-a-gloomy-forecast">BONK: Wild Swings with a Gloomy Forecast</h2>  
<figure class="wp-block-image size-large"><img src="https://cryptonewsland.com/wp-content/uploads/2024/10/Screenshot_20241017-202935-1024x461.png" alt="" class="wp-image-186759">
</figure>  
<p>Source: Trading View</p>  
<p><a href="https://cryptonewsland.com/bonk-falls-12-5-following-rally-miss/" rel="noopener noreferrer nofollow">Bonk (BONK)</a> has had a wild ride this year. After surging nearly 400% from February lows and peaking in early March, the coin faced a harsh decline of 75%. Since then, BONK has bounced around, but recent gains of 20% may not last. The Relative Strength Index (RSI) shows overbought conditions, indicating a possible rejection near declining resistance.</p>  
<p>Current resistance levels remain hard to breach. Analysts suggest BONK could drop further and test the $0.000017 support level. Volatility makes BONK a risky choice this October.</p>  
<h2 class="wp-block-heading" id="h-polygon-pol-struggling-despite-market-optimism">Polygon (POL): Struggling Despite Market Optimism</h2>  
<figure class="wp-block-image size-large"><img src="https://cryptonewsland.com/wp-content/uploads/2024/10/Screenshot_20241017-203036-1024x461.png" alt="" class="wp-image-186764">
</figure>  
<p>Source: Trading View</p>  
<p><a href="https://www.coingecko.com/en/coins/pol-ex-matic" rel="noopener noreferrer nofollow">Polygon (POL)</a> is also facing challenges this month. The coin ended September on a low note, missing out on the overall market’s positive vibes. By month’s end, Polygon’s price fell 5.6% to $0.38, far below its peak from March. A staggering 95% of POL holders experience unrealized losses, with 81% racking up losses over the past year.</p>  
<p>Despite the recent shift from MATIC to POL tokens to boost utility, selling pressure remains high. Key technical indicators signal ongoing downward momentum. Investors should think twice before considering Polygon.</p>  
<h2 class="wp-block-heading" id="h-cardano-ada-bearish-trends-loom">Cardano (ADA): Bearish Trends Loom</h2>  
<figure class="wp-block-image size-large"><img src="https://cryptonewsland.com/wp-content/uploads/2024/10/Screenshot_20241017-203055-1024x461.png" alt="" class="wp-image-186769">
</figure>  
<p>Source: Trading View</p>  
<p><a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">Cardano (ADA)</a> has stirred up much debate recently. Analyst Max Keiser predicts a shocking 90% drop in value within the next six months. While this forecast seems extreme, current data supports a bearish outlook.</p>  
<p>Whale activity indicates large sell-offs of ADA, while IntoThe Block’s analysis shows negative sentiment among traders. Priced $0.34 as of writing, further declines could push ADA to lower support levels around $0.32. Even if a drop to $0.03 seems far-fetched, current market conditions are working against Cardano.</p>  
<p>Considering these bearish outlooks, investors should approach BONK, Polygon, and Cardano with caution this October. Avoiding these altcoins can help safeguard your portfolio amid uncertain market conditions.</p>   
<p>The post <a href="https://cryptonewsland.com/3-altcoins-to-steer-clear-this-october/" rel="noopener noreferrer nofollow">3 Altcoins to Steer Clear This October for Your Portfolio’s Health</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

3 Altcoins to Steer Clear This October for Your Portfolio’s Health

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