Polygon, Ethereum & Ripple — Asian Wrap 20 June

Polygon (MATIC) price is set to book its eighth straight week of losses, even eleven if you do not count the marginally profitable week from mid-April. MATIC price already trades in cents, once the defense breaks, it could even be trading in tenths of a cent. With that, MATIC price could become worthless and obsolete.

 

Ethereum price is already too far gone in the new area for recovery. ETH price will drop 50% before founding essential and strong enough support to halt the descent. Expect an L-shaped to W-shaped recovery, as current tail risks will linger for some time. 

 

Ripple price sees massive outflows of funds as the demand-side dries up. XRP price is too far off from the upper barrier to make a return and can only go one way down. Expect another 50% drop to $0.173 before a bounce-off and turnaround could be triggered.

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