Altcoins
These Altcoins Are About to Drop 30%
Bitcoin has reached impressive highs, reaching $63,000, but a recent analysis from Crypto Banter reveals that it is struggling with significant resistance levels. Despite its lofty position, the failure to surpass $67,000 casts a shadow over market sentiment.
What will happen? Join us to find out the details.
Current Altcoin Scenario
Diving deeper into the world of digital currency, attention turns to altcoins within the broader bull market. Market cycles, including left-handed cycles, right-handed cycles and double tops, are examined for information.
The analysis suggests that many altcoins could see a decline of around 30-50%. Various altcoins were mentioned, with indications of potential downward moves and support levels. Examples include AI, AGI, GRT, OCEAN and others. The analysis highlighted that most altcoins were rejected from mid-levels, indicating further downside potential.
Top Altcoins That Could Drop Soon
AGI (SingularityNET)
SingularityNET faces a possible 30% pullback, with support around $0.67 indicating further turbulence ahead.
GRT (the graph)
The chart could see a 30% decline, making investors wary of potential short-term declines.
Ocean Protocol
If Ocean Protocol retraces its steps, a 25% downturn is expected, prompting investors to monitor support levels for entry opportunities.
AP part
AP Coin’s trajectory suggests new lows, painting a bearish picture for its future.
AXS (Axie Infinite)
Axie Infinity faces a significant downturn of 47% if market conditions deteriorate, requiring a strategic approach from investors.
BLZ (Bluzelle)
Bluzelle’s fate hangs in the balance, with a potential 37% downturn looming if medium-term support weakens, prompting investors to prepare for further turbulence.
ELF (myself)
A deviation from the norm raises fears of a potential downward spiral, prompting investors to exercise caution in these uncertain times.
MANA (Decentralized)
Decentraland’s journey is marked by a potential 15% pullback, prompting investors to keep an eye on support levels for opportunities.
INJ (Injective Protocol)
The injective protocol is on the verge of a potential 39% slowdown, with traders advised to remain vigilant about entry points.
RUNE (THORChain)
THORChain faces a 25% decline if it plunges into the abyss, prompting investors to monitor price action to find potential entry points.
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Should we seize the opportunity?
Altcoins, although robust, find themselves at the mercy of Bitcoin. The looming possibility of a 30-50% decline underscores the need for investors to strengthen their portfolios during turbulent times.
As a correction looms, investors are warned against panic. Instead, the downturn is seen as an opportunity to accumulate assets at discounted prices, potentially paving the way for future gains.
Are you bullish or bearish? Let us know.