Top Altcoins With High Recovery Potential To Buy This Week
The post Top Altcoins With High Recovery Potential To Buy This Week appeared first on Coinpedia Fintech News
Amidst the highly volatile and bearish crypto market, the crucial support levels for many altcoins are turning weak. Failing to absorb the overhead supply, many top performers are under 30% or more correction in the last few days.
However, despite such an immense supply wave igniting a domino effect, some top altcoins show high recovery potential. With a high likelihood of a bull run continuation in these coins, they could spearhead the next recovery rally in the crypto market.
So, let’s have a closer look at their price analysis for a more confident approach.
ONDO (ONDO)
With a sideways trend in motion, the 4H chart of the ONDO altcoin showcases resilience against the market-wide sell-off. However, the chances of recovery are improving with Bitcoin Halving inching closer and the market sentiment normalizing from fear.
Dominance at the 200 EMA in the 4H timeframe prolongs the consolidation move. Further, the bullish divergence in the daily RSI bolsters the chances of a bullish reversal.
A bounce-back in ONDO price could reclaim the psychological mark of $1 and lead to a new breakout rally. In such a case, the bull run could aim for the 1.618 Fibonacci trend-based retracement level at $1.32.
OKB (OKB)
With a bullish higher low trend in motion, the OKB weekly price chart showcases a wedge formation. The altcoin takes constant support from the 50W EMA and teases a trend continuation for the overhead trendline breakout.
Currently, the OKB price stands at the baseline and the 50W EMA and projects a new upcycle entry opportunity. Further, the crucial support level coincides with the 23.60% Fibonacci trend-based retracement level. Thus, the solid underlying demand bolsters the chances of an uptrend.
If the uptrend breaks above the 78.60% Fibonacci level at $74.5, the bull run could hike the altcoin prices to $100.
Toncoin (TON)
The remarkable uptrend in the Toncoin price chart displays solid demand at the support trendline. Despite the recent correction visible in the 4H chart, the altcoin is shifting gears to prolong the uptrend with a new bounce back.
The TON price has increased by almost 10% in the last 16 hours and teases a rally beyond the $10 psychological barrier. With such immense demand and the high momentum prevailing uptrend, the bull run could reach the $15 mark in the upcoming altcoin season.
Will These Altcoins Continue The Uprend?As the sell-off wave reaches exhaustion in the broader market, the altcoins are picking up pace for a new recovery rally. The above-mentioned altcoins have high potential due to the prevailing uptrend and the underlying demand. Hence, these altcoins could continue the uptrend and spearhead the next bull run if the broader market recovers with Bitcoin Halving.