Bittime -The crypto world is facing tough times. Global market capitalization shrank to $2.29 trillion after experiencing a 4.59% decline. However, in the midst of this decline, several altcoins are actually showing positive signals and have the potential to recover before the next Bitcoin halving event.
Searching for Hope in the Midst of Correction
Even though the prices of Bitcoin and other crypto assets are experiencing a decline, analysts see a chance of recovery in certain altcoins. Ethereum (ETH), Solana (SOL), Toncoin (TON), Shiba Inu (SHIB), and Cardano (ADA) are said to be the top candidates to rise before the Bitcoin halving.
Ethereum (ETH): Bullish Signal Despite Downturn
The price of ETH was indeed hit with a 15% drop in a week, its value now stands at around $3,081.02. Its market capitalization was also affected with a decline of 4.81%. However, technical indicators such as MACD and Relative Strength Index actually show bullish signals (positive trend) in the long term. ETH is predicted to find support at around $2698.5 before rising again to $3789.7 before the halving begins.
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Solana (SOL): Ready to Rise After Airdrop and Update
Solana, which has slumped over the past month, seems to be getting out of its bearish trend soon. SOL price is currently around $132.47 after experiencing a 24% drop in a week. DEX Drift Solana recently announced an airdrop of 100 Million tokens, which is believed to boost SOL's popularity again. In addition, the v1.17.31 update is predicted to overcome the network congestion problem that has been a problem for Solana.
Toncoin (TON): Potentially Touch ATH Again
Toncoin (TON) is currently trading at $6.12, down 13.29% from last week. Even though the price is experiencing a decline, TON actually just hit its all-time high five days ago. The partnership with the Telegram instant messaging platform is one of the factors driving the increase in demand for TON. Analysts estimate that TON prices have the potential to rise again before the Bitcoin halving, supported by the Bollinger Bands indicator which shows a decrease in volatility.
Also Read How To Buy Crypto:
Shiba Inu (SHIB): Buyer Trend Begins to Emerge
Shiba Inu (SHIB) price showed slight improvement after touching a low of $0.00001927. Currently, SHIB is trading at $0.0000221 with a market cap of $13,029,843,812. The increase in SHIB trading volume by 5.26% is an indication of the strengthening buying trend in the market. The large-scale acquisition of Solana tokens by large investors (whales) also fueled optimism about SHIB.
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Cardano (ADA): Repeating 2020 Tracks?
Cardano (ADA) is currently hovering around $0.4553 after experiencing a 6% drop. Even though the price is under pressure, ADA recorded a recovery from its lowest point of $0.412 on April 14. Analysts see the potential for ADA's movement to the $3 level as happened in October 2020. ADA's price movement pattern in 2020 shows a significant upward trend after touching its lowest point.
Conclusion
The Bitcoin halving event which is expected to occur in mid-April 2024 is believed to trigger a new bull run (increasing price trend) in the crypto market. Even though the market is currently volatile, analysts see opportunities for recovery in certain altcoins. Ethereum, Solana, Toncoin, Shiba Inu, and Cardano are mentioned as top candidates who have the potential to rise before the Bitcoin halving.
How to Buy Bitcoin (BTC) from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Tips for Finding Altcoins that will Rise
What Are Altcoins? Why is it so Important in the Crypto World?
The Influence of Bitcoin Prices on the Fate of Altcoins
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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