The post Top 5 Altcoins That May Remain UnImpacted If Bitcoin Price Maintains a Bearish Trend appeared first on Coinpedia Fintech News
The altcoins that were highly susceptible to the top cryptos, specifically Bitcoin and Ethereum, appear to have become more independent. While the tokens within the top 10 like BTC, ETH, XRP, ADD, etc are displaying a huge possibility of heading towards lower support, other altcoins maintain acute strength and are fighting bearish heat. Therefore, the altcoins mentioned below are expected to demonstrate a fine rally once market sentiments change a bit.
Aave (AAVE)
The AAVE price has remained bullish for over a couple of years, regardless of the short-term bearish actions. The bulls and the bears had a strong face-off, which was followed by a massive breakout, which has kept the price elevated since the start of the week. The prices have soared above average levels and are therefore believed to trigger a 20% upswing soon.
The AAVE prices are trading within an ascending parallel channel and have risen above the average levels. While the RSI remains stuck above the ascending trend line and the MACD displays a swelling buying volume, prices are expected to remain inflated. With this, a rise to the upper resistance at $135 could be imminent in the next few days.
BOOK OF MEME (BOME)
Regardless of ongoing price action, the BOME price remains stuck within a bearish pattern. The token is trading within a descending triangle and is approaching the apex. Although the price may face a fresh pullback, which may even mark fresh bottoms, a rebound followed may initiate a strong ascending trend.
As seen in the above chart, the bears are trying to drag the BOME price below the ascending trend line within the triangle. Besides, the RSI & DMI are also bearish which supports the bearish narrative which may cause the price to drop below $0.0085 and if bulls fail to act, then a drop below $0.008 could be imminent. However, a rebound is expected to follow which may hold the levels within the pattern.
Kaspa (KAS)
Kaspa’s price has demonstrated acute strength in the past few months with a 100% jump since the start of the year. The trade setup displays the token to be prone to a massive pullback, but from a wider perspective, the token is assumed to rise above $0.25 in the next few days. However, before marking fresh highs, the KAS price is expected to undergo a minor price crunch.
The price is now heading towards the local support zone between $0.186 and $0.182 after hitting the upper bands of Bollinger. Besides, the DMI is preparing for a bearish crossover which may drag the levels lower. This brings the token towards the lower support of the rising wedge which may cause an extended bearish trend and reach $0.170. After accomplishing a rejection, the bulls could revamp a strong ascending trend and revive a strong upswing towards the upper target.
Mantra (OM)
The Mantra price has been trading within an ascending parallel channel which is considered as bullish in the long term. The bears tried to drag the levels below the average levels but the bulls jumped in action and triggered a fine rebound. Currently, the price is facing some upward pressure, but after a brief consolidation, the OM price is primed to revamp a fine ascending trend.
The MACD shows a drop in the selling pressure, and the levels are preparing for a bullish crossover. Besides, the bulls are regaining their dominance as suggested by the Bull-Bear power which may validate a fine ascending trend. Therefore, the OM price is expected to maintain a healthy upswing and reach the upper resistance of the channel at $.15, forming new highs.
Helium (HNT)
The token had rebounded from the lows during July’s second fortnight, which revived the possibility of a fresh ascending trend. However, the price remains stuck within the decisive phase as the token displays both the possibility of rising above $6 and also plunging back below $3. Hence, the next few days could be extremely important for the HNT price, which may have a huge impact on the next price action.
The Gaussian channel has just flipped to bullish but the RSI is constantly forming lower highs and lows. Therefore, the price may either break out of the formed bull flag or repeat its previous pattern, a huge pullback could drag the levels below $3. However, a drop to the lower support of the channel below $4.5 appears to be fast approaching, but the next price action could be crucial. A continuation may trigger a 30% pullback, while a bounce could attract a 50% upswing.
