Altcoins
Top Altcoins Facing Potential Crash in the Week Ahead
Although the broader market is becoming bullish with Bitcoin rising above $63,000, few altcoins are struggling to make a comeback. This reflects the underlying fear of some altcoins that they could fall in the event of minor market corrections.
Amid altcoins projecting a stronger week, they reflect potential weakness or a volatile pivot, reflecting a dangerous turning point. Will these altcoins manage to pivot bullish or collapse below crucial support levels?
Let’s take a closer look at their pricing analysis for a more confident approach.
SUI Weakness Prevents $1 Split
With a bullish failure to reach the psychological $1.50 mark, SUI price returns from the 38.20% Fibonacci level to $1.42. However, the altcoin price action displays a potential reversal from the double bottom to the psychological $1 mark.
With the divergence of the RSI, the chances of a rebound are possible. However, the bearish candle sequence and the possibility of a deadly crossover warn of a fall.
A bullish comeback could project a bullish run in SUI to reach the $2 mark. However, bearish dominance fracturing the $1 demand zone could prove fatal for the altcoin. In case of breakdown, the next support is at a 30% discount near $0.30, which is the 78.60% Fibonacci level.
The revival of optimism (OP) faces strong resistance
With a bullish recovery over the last three weeks, the price of OPs has increased by 21% to approach the psychological mark of $3. However, the altcoin’s 30D yield remains negative 5% and struggles to surpass the Fibonacci level of 61.80%.
Moreover, the bullish recovery could be a retest of the next deadly crossover between the 50 EMA and 200D. Therefore, price analysis projects that the altcoin is at a pivotal stage.
If the uptrend breaks above the $3 resistance, the uptrend could reach the $5 mark. On the other hand, a reversal from the high supply zone could reduce the altcoin by almost 50% to $1.50.
Celestia (TIA) The Altcoin facing the Death Cross
With a bearish resistance trendline in play, TIA price is forecasting a strong pullback phase. As it faces constant rejection from the trendline and dynamic 50D EMA, the altcoin is showing a lower high trend.
TIA price action shows a potential double bottom forming at $9 demand, coinciding with the 61.80% Fibonacci level. Additionally, the RSI divergence strengthens the possibility of an uptrend and could break above the resistance trendline.
However, the downtrend and increased supply could break the $9 zone if the broader market faces a bearish speed bump. In such a case, a breakdown will cause the altcoin to plunge to $6.
Will these Altcoins survive next week?
As the recovery accelerates across the broader market, the chances of an altcoin recovery increase. However, an underlying weakness in cryptocurrencies could lead to a critical outage. These coins could undergo a massive correction next week with such a tectonic shift.