Altcoin season is approaching
With Bitcoin ($BTC) back above $70,000, the cryptocurrency market seems unstoppable ahead of the Bitcoin halving, and many analysts are also predicting that the altcoin market will also usher in a bull market peak around the time of the halving. .
However, among the complex altcoins, there are many currencies with poor trends. Although some of them achieved good results at the beginning of the year, analysts still believe that the prospects of 4 coins are not optimistic and are likely to suffer in the upcoming 4 The month is facing a serious situation.
Celestia ($TIA) could fall back to $8.5
Image source: CoinGecko
Celestia ($TIA), as the main synonym for blockchain modularization, hit an all-time high of $20.77 on February 10. However, it subsequently experienced a sharp correction. As of now, the price of $TIA is $14.4, down from the entire 2024 Year-on-year, the increase was less than 1%.
Analysts pointed out that $TIA’s short-term exponential moving average has fallen, which may indicate that the price will test further downwards. If it falls below the key support level of $13, the downward trend may continue and return to seek effective support near $8.5.
Kaspa ($KAS) could drop to $0.099
Image source: CoinGecko
Kaspa ($KAS) has gained 15% in total market capitalization in 2024, having hit a high of $0.18 in February, with the token trading at $0.1368 at the time of writing, a one-day gain of around 1.6%.
However, analysts pointed out that $KAS's recent technical indicators are showing worrying signals, including the short-term exponential moving average falling across the longer-term line, forming a so-called "death cross", which is often seen as a harbinger of a market decline. , if $KAS fails to break above the overhead resistance, it is likely to fall all the way to $0.099, or even further back to $0.075.
BitTensor ($TAO) price could drop to $430
Image source: CoinGecko
BitTensor ($TAO) benefited from the wave of artificial intelligence at the beginning of the year. It has grown by more than 110% this year alone, from US$274 at the beginning of the year to a record high of US$752.13 on March 7, showing an explosive growth of 174.5%. , $530.92 as of writing.
However, analysts pointed out that the short-term exponential moving average of $TAO has recently fallen below the long-term line, which means that the price may fall further. The key support level currently lies at $524. If it continues to fall, it is likely to return to around $430. Effective support.
Helium ($HNT) price may drop to $4.74
Image source: CoinGecko
Helium ($HNT) has reaped the dividends of the DePin track in the past 2 years and has been very popular since mid-2023. However, looking at the beginning of 2024 so far, the token once reached a high of $10.03 on February 15, but it is relatively Compared with the historical high of $54.81, the outlook for $HNT is still not optimistic. At the time of writing, it was $6.4, a single-day increase of about 6.8%.
Analysts pointed out that $HNT has maintained a downward trend since the "death cross" in which the short-term exponential moving average crossed the long-term line on March 11. If it falls below the key support of $6, it is likely to fall back quickly. Find support near $4.74.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
