Altcoins
High Potential Altcoin to Rebound Stronger Next Week
In the cryptocurrency market crash, top and trending altcoins are correcting by 20% or more in a day. As selling pressure intensifies across the market, investors are quick to exit these trending and hype-driven coins.
As many retest their crucial support areas, rising supply pressure warns of a bearish weekend. However, here are some altcoins with high potential for a quick bounce next week.
Altcoins to Watch: Wedge Breakdown in Notcoin
With a pullback phase in this tap to earn Gaming Tokens, Notcoin records a low of $0.0091 while breaking below the psychological limit of $0.010. Furthermore, Gaming Token reveals a breakout of the descending wedge on the daily chart as selling pressure intensifies.
Amid the ongoing sell-off, the altcoin price has fallen 52% in the past three weeks and has broken below the 61.80% Fibonacci retracement level. As the market tumbles, the intraday pullback to the 78.60% level warns of a prolonged decline.
A break below the $0.0090 mark could result in a 50% decline to the $0.0047 support. However, the intraday candlestick shows a lower price rejection and offers hopes of a reversal next week. According to Fibonacci levels, a recoil in the altcoin price could reach the 50% level at $0.015.
Reversal flop for FLOKI
As FLOKI price fails to sustain Tuesday’s recovery, a reversal from Fibonacci 38.20% breaks the 23.60% support. The fall suspends the range formation and limits the possibility of a double bottom reversal.
As the altcoin is in a severe correction, the 56% decline in four weeks forms a triple black crow formation. With a 30% decline in three days, including a 10.25% intraday drop, the altcoin seems irreparable.
However, as it approaches the crucial support of $0.000112, buyers are fired up with hopes of a reversal. A potential turnaround next week could see a jump to the 38.20% Fibonacci level at $0.0001835.
BRETT Breakout Run Aims to Double This Week
As meme coins take a massive hit, BRETT’s price trend is witnessing a similar situation. In a swift bearish move, the altcoin dropped 33% in four days to test the crucial psychological level of $0.10.
Currently, the meme coin is trading at $0.10902 with an intraday decline of 16.27%, completing the fourth consecutive bearish candle. Furthermore, the altcoin is testing the 50% Fibonacci level, which aligns with the psychological support.
While the rejection of the lower price in the intraday candle keeps the hope of a reversal alive, the broader market sentiment is filled with fear. As fearful investors quickly book their positions, the BRETT price could fall to $0.062 or the 78.60% Fibonacci level.