Altcoins
3 Altcoins to Sell Amid Crypto Market Correction
The crypto market saw slight corrections with altcoins and meme tokens moving sideways. Bigger losses are caused by a loss of sentiment after Bitcoin price falls below $70,000. Bitcoin is trading at $66,991, down 1.1% over the past 24 hours, bringing weekly outflows to 6%. This drop from previous resistance levels above $70,000 affected investors in the market.
Altcoin outflows have reduced the crypto market cap to $2.44 trillion as the weekly position falls into the red zone. Altcoin leaders posted gains over the past 24 hours, but many other assets maintained their outflows. Even as bulls predict a rebound, near-term losses have dampened asset growth. Here are altcoins to sell despite market losses.
Cardano (ADA)
Community doubled ETH Killer has seen capital outflows this week as daily losses continue. ADA is down 2.3% in the last 24 hours and 14.53% this week. Daily trading volumes for the asset fell 32% as sentiments fell. Cardano price is trading at $0.4127 as bulls attempt to propel the asset past the $0.5 resistance level. Consistent outflows for ADA place it among the altcoins to sell amid short-term losses.
Ripple (XRP)
Ripple lost momentum in the first quarter of 2024, although there are many prospects for the asset. Daily losses continue to mount for XRP following the decline of the altcoin market and regulatory issues with the Securities and Exchange Commission (SEC). The asset is down 1.9% today to trade at $0.478 while daily volumes are 14% in the red zone. Ripple bulls are also looking for a short-term surge above $0.5 and a longer-term rally above $1 if market sentiments reverse.
Solana (SOL)
Solana is trading at $144.98, down 3.2% in the last 24 hours and 15% this week. Daily trading volumes also declined by 23%, as short-term corrections are more severe. This week, Solana regained the $150 mark before dipping below the resistance level. Known for outpacing altcoins in terms of rebounds, bulls express optimism about long-term growth, but short-term losses put the asset in the red zone.
Read also: Crypto trending to buy under $5
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Staying on top of trends, David has worked across several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Far from the financial markets, David goes cycling and horse riding.