3 Altcoins to Buy If Bitcoin Correction Extends to $50,000

Solana (SOL)

Solana is a high-performance blockchain platform designed for decentralized applications (dApps) and cryptocurrencies. It aims to provide fast, secure, and scalable blockchain solutions.

Following Ethereum, the Solana coin is the next best asset for the potential launch of Exchange-Traded Funds (ETFs). With the recent S-1 filing from large asset management companies for Solana-based ETFs, the SOL price shows active demand pressure at $122.

The horizontal level is close to the support trendline of the triangle pattern formation. The Solana price currently trades at $137.5, while the market cap holds at $63.6 billion.

A potential breakout from the triangle resistance trendline could drive a bullish rally to $210, followed by $326.

Pepe Coin (PEPE)

Pepe Coin (PEPE) is an Ethereum-based meme coin inspired by the popular internet meme character, Pepe the Frog.

The ongoing correction in PEPE price is strictly resonating within two trendlines of flag pattern formation. The pattern is known to drive a short counter-trend move for buyers to regain strength.

Today, the PEPE price rebounded 12.2% from the lower trendline to trade at $0.0000095, while the market cap uplifted to $3.88 billion. If the pattern holds true, the PEPE price must breach the overhead trendline to signal an uptrend continuation.

The post-breakout rally could bolster PEPE buyers to surpass the last high of $0.00001745 and enter a price discovery mode.

Chainlink (LINK)

Chainlink (LINK) is a decentralized oracle network that enables smart contracts on various blockchains to securely interact with real-world data and external APIs. LINK, the native cryptocurrency of Chainlink protocol trades at $12.9, while the market cap holds at $7.86 billion.

Currently, the $12.2 mark stands as the major support for LINK price to prevent a major downfall. A potential reversal from this floor could push the 25.5% up to challenge the overhead trendline at $16.2.