The first week of September was quite bearish for the entire cryptocurrency market. Bitcoin is trading at $55K, up 2% in the last 24 hours. September has long been dubbed a bearish month for global crypto and financial markets and hence comes with an advisory to tread the sector with great care often.
Keeping such guidelines in mind, here are the three crypto tokens that one must neglect or avoid exploring as they are predicted to go downhill this month.
Also Read: US Dollar To Further Weaken As Markets Brace For Another Volatile Week
Best Coins To Ignore This September
1. Cardano (ADA)
Cardano has long been trading at lower levels, unable to break past the price barrier of $0.40. At press time, the token is at $0.34, up 2% in the last 24 hours.
According to CoinCodex, ADA may further shed its valuation this month, derailing its price. The token may sit at $0.36 by the end of September, marking a slight progress.
“The Cardano price forecast for the next 30 days is a projection based on the positive/negative trends in the past 30 days. Based on these Cardano projections, ADA will be changing hands at $ 0.329113 on Sep 16, 2024, losing -5.36% in the process.”
However, with its newest Chang Hard Fork upgrade, Cardano is ushering in a new era. The chain will now support chain governance functionalities, which may bolster its price in the long haul.
2. Dogecoin (DOGE)
Dogecoin, often dubbed the Shiba Inu killer, is second on this list of tokens that should be neglected this September. The token is predicted to hit a new low, possibly trading at the $0.083 price level by the end of this month, which makes it a token that should not be explored this September for bullish returns.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -13.78% and reach $0.083182 by October 9, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 26 (fear). Dogecoin recorded 15/30 (50%) green days with 4.37% price volatility over the last 30 days.”
However, Doge is often endorsed by Tesla, chiefly Elon Musk, and may surprisingly deliver stable returns, provided the cryptocurrency market favours its momentum and pace.
Also Read: XRP Price Surge: How US Election and SEC Moves Play a Role
3. Tron (TRX)
Tron recently surprised the cryptocurrency market by rising high on the price radar due to the sudden SunPump meme coin hype. Since then, the token has stabilized but is still in bearish waters.
According to CoinCodex, Tron may shed an additional 23% this September and, hence, may be unable to deliver lucrative returns.
“According to our current TRON price prediction, the price of TRON is predicted to drop by -23.73% and reach $0.117429 by October 9, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 26 (fear). TRON recorded 17/30 (57%) green days with 8.46% price volatility over the last 30 days.”
However, Justin Sun, founder of Tron, has expressed optimism about its future. Sun shared how the new projects brewing on Tron make him feel bullish about TRX in the long haul.
Also Read: BTC Critic Peter Schiff May Become A Bitcoin Proponent If This Happens
