Altcoins
High-potential altcoins likely to see steeper pullback next week
In a crashing cryptocurrency market, the most popular and trending altcoins are seeing a correction of 20% or more in a day. As selling pressure intensifies across the market, investors are quick to exit these trendy and fashionable cryptocurrencies.
As many altcoins retest their crucial support areas, increasing supply pressure points to a bearish weekend. However, here are some altcoins with high potential for a quick rebound next week.
Altcoins to Watch: Notcoin Corner Breakout
With a pullback phase in this gaming token, Notcoin records a low of $0.0091 as it breaks below the psychological mark of $0.010. Moreover, the gaming token reveals a descending wedge breakout in the daily chart as selling pressure intensifies.
Amid the ongoing sell-off, the altcoin’s price has fallen 52% over the past three weeks and has broken the 61.80% Fibonacci retracement level. As the market plummets, the intraday pullback to the 78.60% level warns of a prolonged crash.
A break below $0.0090 could lead to a 50% decline to the $0.0047 support. However, the intraday candle shows a lower price rejection and offers hope for a reversal next week. According to the Fibonacci levels, a pullback in the altcoin’s price could reach the 50% level at $0.015.
Reversal flops for FLOKI
As FLOKI price fails to sustain Tuesday’s rally, a reversal from the 38.20% Fibonacci level breaks the 23.60% support. The drop suspends the range formation and limits the chances of a double bottom reversal.
With the altcoin undergoing an intense correction, the 56% drop in four weeks forms a triple black crow formation. With a 30% drop in three days, including the 10.25% intraday drop, the altcoin seems irreparable.
However, as it approaches the crucial support at $0.000112, buyers are getting fired up with hopes of a reversal. A potential reversal next week could result in a jump towards the 38.20% Fibonacci level at $0.0001835.
BRETT Breakout Run Aims for 2x Increase This Week
As meme coins take massive hits, BRETT’s price action is experiencing a similar situation. With a rapid bearish slide, the altcoin has dropped 33% in four days to test the crucial psychological mark of $0.10.
Currently, the cryptocurrency is trading at $0.10902 with an intraday decline of 16.27%, completing the fourth consecutive bearish candle. Moreover, the altcoin is testing the 50% Fibonacci level, which is the psychological support.
While the rejection of the lower price in the intraday candle keeps the hope of a reversal alive, the overall market sentiment is filled with fear. As fearful investors quickly book their positions, BRETT price could drop to $0.062 or the 78.60% Fibonacci level.