Altcoins With Downside Risks To Avoid In This Crypto Market Crash
The post Altcoins With Downside Risks To Avoid In This Crypto Market Crash appeared first on Coinpedia Fintech News
With the Bitcoin correction growing intense after the Mt. Gox payout linked to supply, the altcoins are under extreme pressure. While the market is looking for altcoins to stack, some are far away from the next support or quite weak in these market conditions.
With a threat of extreme downtrend continuation, here’s a list of altcoins with 10% downside chances to avoid in this crypto market crash. So, here’s a list of altcoins to trade carefully, as they might crash heavily next week.
Wedge Breakdown To Plunge ICP Price By 25%
Amid the pullback phase prior to the Bitcoin crash, the declining ICP price trend formed a falling wedge in the daily chart. The pullback led to the death cross in the daily 50 and 200 EMAs as it lost the $10 psychological mark.
With a 62% fall in the last 90 days, the altcoin price is under extreme bearish pressure and warns of an extended fall. As the BTC price dropped under $60K, the altcoin price broke below the falling wedge, signalling a nosedive.
With the next support level at $5.27, the 25% downside risk warns against a bullish position.
Bitcoin SV, The Altcoin With A 20% Downside Fate
With the declining trend at play, the BSV price breaks below the descending support trendline. Further, with the 50D EMA acting as the dynamic resistance, the bearish trend gains momentum.
In the daily chart, the 66% drop in the past three months leads to a triangle breakout in the altcoin. With the BSV price dropping under the $40 mark, the 7% intraday drop warns of a downfall to the next support at $31.
Hence, with a downside risk of 20%, the altcoin is quite weak, with minimal reversal chances.
The AI Token APT Might Slip 25% To $4.72
With a double top formation in the weekly chart, the AI token APT price action reveals another bearish trend in motion. With the altcoin failing to sustain above $8, the correction phase grows intense.
Currently, the altcoin trades at $6.27 with an intraday fall of 4.70% and a weekly drop of 11%. As it breaks under the $7 mark, the downfall could find the next support at the neckline of $4.72.
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