Analyst Warns: “Buy These Altcoins Before It’s Too Late!”

Cryptocurrency analysis platform Coinpedia has given a red flag to three altcoins in its analysis titled “Bear Market Warning.”

Altcoins are trying to hold on to important support levels in the cryptocurrency market that has fallen below $2 trillion.

#Jasmycoin (JASMY), which gained significant momentum at the beginning of the year, has been on a downward trend lately. JASMY has lost nearly 20 percent of its value in the past month.

Coinpedia, which reported that investors holding#JASMYhave returned 173.26 percent since the beginning of the year, noted that the profitability rate in question could create selling pressure.

In the analysis titled “Altcoins to Sell Before It’s Too Late,” the following was said about JASMY: “The technical indicator RSI continues to display a flat, flat line on the 1-day timeframe. Additionally, the average trend line is recording an increase in the downside movement. This indicates weak buying pressure for the altcoin in the market. If bears continue to dominate the market,#JASMYcould drop to the support level at $0.01150. This decline indicates a potential decline of around 37 percent for the altcoin.”

Ondo (ONDO), which is gaining momentum in the real-world asset (RWA) space, has been listed on Coinpedia. Some have claimed that ONDO, which has partnered with BlackRock and been featured among potential cryptocurrencies, has been unable to break out of the downtrend.

“ONDO has formed a descending channel pattern on the daily timeframe and has been trading within the channel since June. The data indicates a long-term bearish sentiment for the altcoin. It is worth remembering that#ONDOhas increased by 255.36 percent since the beginning of the year.”

#Floki ($FLOKI), one of the most popular cryptocurrencies on the Ethereum blockchain, has been included in the list of “altcoins to sell before it’s too late.” Coinpedia has issued a warning that the popular cryptocurrency memeocin is in a dangerous state.