Best Altcoins to Stack Amidst the Crypto Crash Today!
As the cryptocurrency market lost its $2 trillion status, top tokens failed to hold values above critical support zones. Following this, Limelight categories have declined significantly in the past few days.
However, the ongoing market turmoil may be a better opportunity for top altcoins than major cryptocurrencies during the upcoming AltSeason rally. Scroll down to find the top 3 gems!
SHIB Memecoin registers a coordinated price action
The memecoin market has seen a sharp drop in the past few days. As a result, the price of Shiba Innu has decreased by 6.23% in the last seven days. Moreover, it has been showing a strong price action since August, which indicates weak market sentiment.
The technical indicator RSI shows a constant flat line in the 1D time frame. Additionally, the average trend line is constantly hovering below the neutral point. This shows weak buying and selling pressure. However, bullying reversals can also occur.
Let's say, the bulls regain their momentum, this time, Shiba Inu price is set to test the $0.0000170 resistance level next time. On the contrary, a bearish move could drag the SHIB coin price to a low of $0.00001175 this month.
Read the Shiba Inu price forecast to find out if SHIB memecoin will reach $0.00005 during this bull run.
The price of BNB failed to break the key resistance level
Due to the increased volatility, the price of Binance decreased by 7.83% in the previous day at $1.756 in trading. Additionally, it fell more than 8 percent last week. This shows uncertainty for altcoin in the market.
The Moving Average Convergence Divergence (MACD) recorded a persistent red histogram, with the averages showing an increasing negative trend. This suggests that the price of Binance coin may continue to lose value this week.
If the market experiences a significant change, the price of the BNB coin is set to retest the important protection zone below $635. Conversely, if the bears continue to dominate the market, the altcoin may drop to a low of $454.5.
Avalanche price will test the critical support.
Despite the recent market volatility, AVAX price has fallen 12.67% over the past week and returned -44.47% year-to-date (YTD). In particular, with a market value of 8.676 billion dollars, this project was ranked 12th.
A simple moving average (SMA) can experience significant convergence in a 1D time frame. Additionally, the RSI indicator showed a steady flat line. This indicates a high probability of recovery in the future.
If the market continues to rise, the price of AVAX is set to test the $31.50 resistance level with a breakout rally. However, a strong bearish action could see it test the $17.30 low this month.
Also, see Avalanche's price forecast for long-term price targets.
