Analyst Warns: "Buy These Altcoins Before It's Too Late!
Crypto analysis platform Coinpedia has issued a cautionary signal for three altcoins in their report titled "Bear Market Warning." According to the analysis, these altcoins are struggling to maintain key support levels as the cryptocurrency market has dropped below $2 trillion.
#Jasmycoin ($JASMY ), which saw substantial gains earlier this year, has recently been in a downtrend. In the past month, JASMY has lost nearly 20% of its value. Coinpedia noted that investors holding #JASMY have achieved returns of 173.26% since the start of the year, but this profitability may lead to selling pressure. The report stated that the RSI technical indicator has been flat on the daily chart, while the average trend line indicates increasing downward movement. This suggests weak buying pressure for JASMY. If bearish sentiment continues, #JASMY could drop to the $0.01150 support level, signaling a potential 37% pullback.
Ondo (ONDO), gaining traction in the real-world assets (RWA) sector, was also mentioned in the report. Despite its partnership with BlackRock and being highlighted as a cryptocurrency with potential, ONDO has struggled to break free from the bear market trend. According to Coinpedia, ONDO has formed a descending channel pattern and has been trading within this channel since June, signaling long-term bearish momentum. However, it's important to note that #ONDO has still increased by 255.36% since the beginning of the year.
#Floki ($FLOKI ), one of the most popular memecoins on the Ethereum blockchain, was also included in the "Altcoins to Sell Before It’s Too Late" list. Coinpedia warned that this popular memecoin is in a risky position, and investors should be cautious.
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