😱🩸🚀There is a bloodbath in cryptocurrencies, here are 3 Altcoins with Opportunity Potential
1. TRON
TRON ($TRX ) is a blockchain-based platform designed to host a global digital entertainment system, featuring free content and decentralized applications.
An analysis of the daily chart shows the TRON price riding a steady uptrend since November 2022. A dynamic support trendline has been providing buyers with suitable accumulation during market dips, maintaining buy-the-dip sentiment among buyers.
On June 18th, the TRON witnessed its latest reversal from the ascending trendline, uplifting the price 12.56% to trade at $0.12. Consecutively, the market cap surged to $11.07.
If market supply pressure persists, the #TRX price could plunge 6% to revisit the rising trendline. Until this support is intact, the TRON coin will maintain its bullish trend.
2.BONK
Bonk is a meme coin built on the Solana blockchain, branded as a community-driven “dog coin for the people by the people.”
Amid the recent market correction, the #BONK price fell from $0.000045 to $0.000018, registering a loss of 59%. The price decline halted at an ascending trendline that has supported BONK’s bullish trajectory over the past five months.
Defying the market correction, the $BONK price rebounded from an ascending trendline with an 11% jump to trade at $0.000023, while the market cap jumped to $1.57 Billion. If the support holds, the altcoin could rebound higher and breach the overhead trendline of $0.000027, followed by $0.000035.
Key Takeaway
The selling pressure in the cryptocurrency market intensifies as Bitcoin’s price falls below $60,000, driven by liquidations from Mt. Gox and the German Government. This downward trend has spread to the altcoin market, with several assets dropping to their lowest monthly or annual support levels. Despite the overall bearish momentum, some cryptocurrencies have demonstrated notable resistance, maintaining their positions against the prevailing selling pressures.
