The post High Potential Altcoins To Recoil Stronger Next Week appeared first on Coinpedia Fintech News
In the crashing crypto market, the top and trending altcoins are hit by 20% or more correction within a day. As the selling pressure intensifies all over the market, investors are quick to exit such trending and hype-driven coins.
While many retest their crucial support areas, the increasing supply pressure warns of a bearish weekend. However, here are some high-potential altcoins for a quick bounce back next week.
Altcoins To Watch Out: Wedge Breakdown in Notcoin
With a pullback phase in this tap to earn gaming token, Notcoin, registers a low of $0.0091 as it breaks under the $0.010 psychological mark. Further, the gaming token reveals a falling wedge breakdown in the daily chart as the sell pressure intensifies.
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Amidst the ongoing sell-off, the altcoin price has been down by 52% in the last three weeks and has broken under the 61.80% Fibonacci retracement level. As the market crashes, the intraday pullback to the 78.60% level warns of an extended crash.
A breakdown under the $0.0090 mark could result in a 50% decline to the $0.0047 support. However, the intraday candle shows a lower price rejection and offers hope of reversal next week. As per the Fibonacci levels, a recoil in the altcoin price could hit the 50% level at $0.015.
Reversal Flops For FLOKI
As the FLOKI price fails to sustain the Tuesday recovery, a reversal from the 38.20% Fibonacci breaks the 23.60% support. The downfall suspends the range formation and limits the double bottom reversal chances.
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As the altcoin is under intense correction, the 56% drop in four weeks forms a triple black crow formation. With a 30% dip in three days, including the 10.25% intraday drop, the altcoin seems beyond repair.
However, as it approaches the crucial support of $0.000112, buyers are lit with the hope of reversal. A potential turnaround next week can result in a jump to the 38.20% Fibonacci level at $0.0001835.
BRETT Breakout Run Aims 2x Surge This Week
As the meme coins take massive hits, the BRETT price trend witnesses a similar situation. With a quick bearish landslide move, the altcoin is down by 33% in four days to test the crucial psychological mark of $0.10.
Tradingview
Currently, the meme coin trades at $0.10902 with an intraday drop of 16.27%, completing the fourth consecutive bearish candle. Further, the altcoin tests the 50% Fibonacci level, which aligns with the psychological support.
As the lower price rejection in the intraday candle keeps the hope of reversal lit, the broader market sentiment is filled with fear. As fearful investors quickly book their positions, the BRETT price could drop to $0.062 or the 78.60% Fibonacci level.