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<p>This analysis is based on insights from Stocktwits’ ‘<a href="https://stocktwits.com/c/newsletters/the-litepaper/issues/2023/09/13/three-of-the-ugliest-charts-sol-dot-and-bnb/" target="_blank" rel="noopener noreferrer nofollow">The Litepaper</a>,’ and it offers a critical lens into the current state of three key cryptocurrencies: Binance Coin, Solana, and Polkadot.</p> 
<h2 class="wp-block-heading" id="binance-coin-bnb">Binance Coin (BNB)</h2> 
<p>The outlook for <strong>Binance Coin ($BNB)</strong> is anything but promising at the moment. The coin’s recent weekly close was its lowest in 2.5 years, signaling concern among investors.</p> 
<p>From the vantage point of Ichimoku Cloud analysis—a revered Japanese charting method—the prospects look grim for BNB as there’s virtually no support level to break its freefall.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="523" src="https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-1024x523.jpg" alt="" class="wp-image-334856" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-1024x523.jpg 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-300x153.jpg 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-766x391.jpg 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-1536x784.jpg 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB.jpg 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-294x150.jpg 294w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-100x51.jpg 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-686x350.jpg 686w, https://captainaltcoin.com/wp-content/uploads/2023/09/BNB-788x402.jpg 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p><strong>Danger Looms at $200:</strong><br>The precarious situation for BNB bulls intensifies if the coin slips below the $200 value area, a key level identified through Volume Profile analysis. Breaching this zone would essentially unleash price volatility and create a vacuum down to the next high-volume node at $137.50.</p> 
<p>However, there’s a sliver of hope. For some reason, bears haven’t been able to deliver the knockout punch, leaving BNB precariously balanced on the edge of a cliff.</p> 
<h2 class="wp-block-heading" id="solana-sol">Solana (SOL)</h2> 
<p>When it comes to risky positions, <strong>Solana ($SOL)</strong> may be the most vulnerable among the top ten cryptocurrencies by market capitalization. FTX’s recent permission to liquidate has put Solana in the hot seat as it is the largest altcoin held by the exchange.</p> 
<p>Much like BNB, Solana’s weekly chart also paints a grim picture, teetering perilously close to a catastrophic drop.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="523" src="https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-1024x523.jpg" alt="" class="wp-image-334864" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-1024x523.jpg 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-300x153.jpg 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-766x391.jpg 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-1536x784.jpg 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL.jpg 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-294x150.jpg 294w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-100x51.jpg 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-686x350.jpg 686w, https://captainaltcoin.com/wp-content/uploads/2023/09/SOL-788x402.jpg 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p><strong>Support at $13.17?:</strong><br>Even though there’s no Ichimoku support for Solana, the Volume Point of Control (VPOC) at $13.17 might act as a solid base for the price. However, this is still largely speculative.</p> 
<p>Intriguingly, there’s a hidden bullish divergence between the price and the Composite Index, which itself is hovering at a historical support level. This could be a potential saving grace, but it’s no guarantee.</p> 
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<h2 class="wp-block-heading" id="polkadot-dot">Polkadot (DOT)</h2> 
<p>In the beleaguered crypto landscape, <strong>Polkadot ($DOT)</strong> stands out for its particularly unfortunate position. It’s currently down a staggering 92.87% from its all-time high and is heading toward its weakest weekly close in over two years.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="523" src="https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-1024x523.jpg" alt="" class="wp-image-334872" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-1024x523.jpg 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-300x153.jpg 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-766x391.jpg 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-1536x784.jpg 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT.jpg 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-294x150.jpg 294w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-100x51.jpg 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-686x350.jpg 686w, https://captainaltcoin.com/wp-content/uploads/2023/09/DOT-788x402.jpg 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p><strong>All-Time Low Composite Index:</strong><br>Making matters worse, the asset has posted seven consecutive weeks of decline. If the current week closes in the red, that will make it eight. However, not all is doom and gloom for DOT bulls. The Composite Index is currently at its all-time low, possibly indicating an oversold condition.</p> 
<p>Moreover, there’s a substantial gap between the bodies of the weekly candlesticks and the Tenkan-Sen line in the Ichimoku setup, potentially signaling an upcoming reversal.</p> 
<p>In summary, these three cryptocurrencies—BNB, Solana, and Polkadot—are navigating tumultuous waters. Whether they will sink or swim remains uncertain, but investors should tread cautiously in these uncertain times.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/no-light-at-the-end-of-the-tunnel-for-bnb-sol-and-dot-holders/">No Light at the End of the Tunnel for BNB, SOL, and DOT Holders</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

No Light at the End of the Tunnel for BNB, SOL, and DOT Holders

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