The post Top Altcoins Which May Recover From the Ongoing Bearish Trend appeared first on Coinpedia Fintech News
The crypto space has been extremely volatile in recent times as the top crypto assets have been hitting their resistance and support levels constantly. In the meantime, some of the altcoins appear to be ready for a massive explosion but refrain from it themselves due to the ongoing sluggish market conditions.
Below are the top altcoins that may recover quickly as the BTC price rebounds.
XRP price has displayed significant strength in recent times and has held strong despite the markets being largely dominated by the bears. The price witnessed a sudden drop during the early trading hours, due to which it slipped from $0.3891 to $0.3771. However, the price continues to remain within bullish captivity as it trades along the lower trend line. Although, the RSI is bearish presently, the price is displaying the possibility of a bullish breakout soon.
Polygon has been displaying extensive strength as the price maintained a fine rally toward the higher targets. The MATIC price has recovered the loss incurred due to the market crash in May 2022. The price amid the upswing triggered since the beginning of 2023 and has been maintaining a steep upswing since then. Despite the bearish market trends, the price is believed to rebound quickly with a slight relief from the bearish trend.
Optimism price soared high before the Ethereum Merge and continued to rally high at the beginning of 2023. Presently, the asset has been failing to surge above $3.1 as it is being rejected each time it visits. But the social dominance of the token is rising along with the sentiments. Hence, a fine upswing could be imperative this week.
Shiba Inu (SHIB)
Shiba Inu price was undergoing a parabolic recovery, but the bears restricted the price below $0.000015 as they dragged the price close to $0.000012. Currently, the price is trying to break out from the consolidation and ignite a fine upswing soon. However, the depleting RSI could be a little matter of concern, therefore, a decent pullback could be imminent to find the bottom below $0.000012 before triggering a rebound.