The cryptocurrency market has experienced a major hit this week, with top tokens recording a significant correction in their respective valuations. Moreover, the BTC price has recorded a low of $68,779, indicating rising uncertainty in the crypto space.
With the ongoing turmoil in the cryptocurrency market, is this a good time to invest in the altcoin market? In this article, we have covered the top 3 altcoins that have the potential to record a strong bullish reversal in the coming time.
Worldcoin (WLD)
Despite dropping 8.24% over the last seven days, the Worldcoin price has displayed a sideways trend. Further, it has added ~19% during the past month. This highlights a long-term bullish sentiment for the altcoin in the market.
The Simple Moving Average (SMA) is acting as a resistance to the price chart in the 1D time frame. Moreover, with MACD indicator displays a neutral price trend in the Worldcoin price chart. This suggests uncertainty in future price action.
If the bulls regain momentum, the WLD coin price may retest its resistance level of $3.30. On the flip side, if the bears dominate the market, the altcoin may retest its crucial support level of $1.350.
Also, read Worldcoin (WLD) Price Prediction!
Cat in a dogs world (MEW)
After recording a drop of 11% in the past seven days, the MEW memecoin has added 4.96% in the past 24 hours with a trading volume of $132.70 million. This highlights increased price action for the meme coin in the crypto space.
The Relative Strength Index (RSI) has held itself above the neutral point with its average trendline around the overbought range in the 1D time frame. Moreover, the SMA indicator shows a negative outlook, suggesting a mixed sentiment.
Suppose, if the bulls overpower the bulls, the Cat in a dogs world price may retest its upper resistance level of $0.0120. On the contrary, if the bearish sentiment intensifies, the MEW price may retest its lower support level of $0.00700.
Celestia (TIA)
With a jump of 4.68% in the past 24 hours with a trading volume of $224.301 million, the TIA price has recorded a strong bullish recovery. Moreover, with a market capitalization of $1.934 billion, it has successfully claimed the 46th position.
The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram with its averages experiencing a negative sentiment. Moreover, the EMA 50-day acts as a resistance, suggesting that the price may continue losing value this week.
If the market favors the bulls, the Clestia price could push its value toward the resistance level of $7.430. Conversely, a negative setback could pull the price toward its crucial support level of $3.925 during the upcoming time.
Also, read Celestia (TIA) Price Prediction!
