Altcoins
These altcoins are on the verge of a 30% decline.
Bitcoin has risen to impressive levels, touching $63,000, but a recent analysis by Crypto Banter reveals that it is grappling with significant resistance levels. Despite its elevated position, failure to break above $67,000 casts a shadow on market sentiment.
What will come? Join us as we uncover the details.
Current Altcoin Scenario
Diving deeper into the world of digital currencies, attention turns to altcoins within the broader bull market. Market cycles, including left-translated cycles, right-translated cycles, and double tops, are carefully examined for insights.
Analysis suggests that many altcoins could see a decline of between 30% and 50%. Various altcoins were mentioned, with indications of potential downside moves and support levels. Examples included AI, AGI, GRT, OCEAN, and others. The analysis highlighted that most altcoins were declining from average levels, indicating potential further downside.
Top Altcoins That May Drop Soon
AGI (SingularityNET)
SingularityNET risks a possible 30% pullback, with support around $0.67 indicating further turbulence ahead.
GRT (the graph)
The chart could see a 30% decline, urging investors to be cautious of potential short-term declines.
Ocean Protocol
If Ocean Protocol reverses itself, a 25% decline is looming, prompting investors to monitor support levels for entry opportunities.
AP coin
AP Coin’s trajectory suggests new lows, painting a bearish picture for its future.
AXS (Axie Infinity)
Axie Infinity will face a significant 47% decline if market conditions worsen, requiring a strategic approach from investors.
BLZ (Bluzelle)
Bluzelle’s fate hangs in the balance, with a potential 37% decline looming if mid-range support weakens, prompting investors to prepare for further turbulence.
ELF (aelf)
A deviation from the norm raises concerns about a potential downward spiral, prompting caution among investors in uncertain times.
MANA (Decentralized)
Decentraland’s path is marked by a potential 15% pullback, urging investors to keep an eye on support levels for opportunities.
INJ (injection protocol)
The Injective Protocol is on the verge of a potential 39% decline, with traders advising to remain vigilant for entry points.
RUNE (THORChain)
THORChain will face a 25% decline if it deepens the abyss, prompting investors to monitor price action for potential entry points.
Also check: Top 3 Altcoin Crypto Whales Are Piling Up This May: Should You Buy Now?
Should you take the opportunity?
Altcoins, while robust, find themselves at Bitcoin’s mercy. The looming possibility of a 30-50% decline highlights the need for investors to strengthen their portfolios in turbulent times.
As the correction looms, investors are warned to panic. Instead, the recession is seen as an opportunity to accumulate assets at a discount, potentially paving the way for future gains.
Are you feeling bullish or bearish? Let us know.