Cryptocurrency analytics platform Coinpedia has issued a danger signal for three altcoins in an analysis shared under the title “Bear Market Warning.”

In a crypto market that has dipped below $2 trillion, altcoins are struggling to hold onto key support levels. While mid- and low-cap altcoins are gaining momentum, large-cap altcoins are trading on the brink of a potential bear market.

Cryptocurrency analysts have lost faith in the bull run as Bitcoin (BTC) fell to $52,500. Many analysts believe the market will not recover despite the Fed cutting interest rates.

Analyzing the bearish cryptocurrency market, Coinpedia has identified three altcoins that could fall more than others.

Jasmycoin (JASMY)

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

Stating that investors holding JASMY have achieved a 173.26% return since the beginning of the year, Coinpedia stated that this rate of return could create selling pressure.

In an analysis titled “Altcoins Should Be Sold Before It’s Too Late,” JASMY said the following:

“The RSI technical indicator continues to show a steady sideways trend on the one-day time frame. Additionally, the moving average trend line is showing an increasing downward bias. This suggests that the altcoin buying pressure in the market is weakening. If bears continue to dominate the market, JASMY could drop to the support level of $0.01150. “This decline suggests a potential drop of around 37% for the altcoin.”

Ondo (ONDO)

Ondo (ONDO), which is gaining momentum in the real-world assets (RWA) space, has been included in Coinpedia’s list. It is claimed that ONDO, which is partnered with BlackRock and is among the cryptocurrencies with potential, will not be able to escape the bearish trend.

The analysis in question states the following:

“ONDO has formed a descending channel pattern on the daily timeframe and has continued to trade within that channel since June. The data points to a long-term bearish sentiment for the altcoin. It is worth noting that ONDO is up 255.36% since the beginning of the year.”

Claiming that the ONDO price could test the $0.44390 support level, the analysis identified $0.697 as a potential resistance point. “The simple moving average (SMA) acts as resistance.” Coinpedia concluded: “The SMA suggests a negative outlook for the altcoin in the coming period.” He concluded as follows.

Floki (FLOKI)

Floki (FLOKI), one of the most popular memecoins on the Ethereum blockchain, has been included in the list of “altcoins you should sell before it’s too late.” Coinpedia has issued a warning that the popular memeocin is in a dangerous position.

Memecoins took a big hit as BTC prices dropped to $52,500. Many memecoins saw double-digit drops. Although FLOKI lost 8.29% of its value in the past 30 days, it is up 243% since the beginning of the year.

The following were mentioned in the analysis:

“The RSI and SMA technical indicators both form a bearish sentiment. The data suggests that the altcoin could continue to lose value in the coming weeks. If the downtrend is stronger, FLOKI price will break the $0.000101 support and retreat to lower support. “If the trend reverses, the $0.000155 resistance level could be tested.”

DYOR! #Write2Win #Write&Earn $FLOKI