Bittime - Crypto prices are experiencing their worst decline in 2024. Global market capitalization plunged to $2.29 trillion after experiencing a 4.59% decline. However, there are 5 altcoins that have the potential to rise before the 2024 Bitcoin Halving.
Global trade volume jumped $117.92 billion after a 3% increase. Some altcoins have managed to bounce back, while others are waiting for momentum before the Bitcoin halving event.
This article discusses the top 5 altcoins that may recover before the Bitcoin halving.
Altcoins That May Recover Before Bitcoin Halving
Several altcoins such as Ethereum, Solana, Toncoin, Shiba Inu, Cardano, and others show the potential for price increases.
Check Today's Crypto Market:
Ethereum (ETH)
ETH price has seen a major decline, currently sitting around $3,083.46 after dropping 13% in a week. The impact of the price drop was seen in the market capitalization which fell 0.52% to $370,383,967,029.
Also read: Ethereum History Story: How Ethereum Became Popular
Even though the price is falling, the MACD and Relative Strength Index indicators show a bullish signal (uptrend) in the long term. Based on that, Ethereum is expected to find support around $2,698.5 before rising to $3,789.7 before the halving begins.
Solana (SUN)
Solana is entering a bearish trend, but it will end soon. Solana price has been falling for almost a month and is currently trading around $140.10 after a 19% drop in a week.
The market capitalization was also negatively impacted by around 12.88% with a current value of around $59,334,478,313.
DEX Drift Solana announced an airdrop of 100 Million tokens in the coming days. Solana is already known for its involvement in the most profitable tokens, and this announcement has Solana buzzing once again.
Additionally, Solana's v1.17.31 update will play an important role in increasing token prices as it addresses network congestion issues due to high demand for Solana.
Toncoin
Toncoin is trading at $6.12 after experiencing a 13.29% decline. Market capitalization was also pressured by bearish market conditions. When this article was written, Toncoin's market cap was at $21,248,635,304.
Toncoin is 19% below its all-time high set just five days ago. The price drop was followed by Toncoin, but analysts expect a price increase before the Bitcoin halving.
Also Read How To Buy Crypto:
Recently Toncoin became the talk of the town because of its partnership with Telegram. The partnership made Toncoin a payment partner for the messaging platform, leading to an increase in demand for altcoins in the market.
The Bollinger Bands indicator also shows a decrease in token volatility, leading to stability with price fluctuations.
Shiba Inu (SHIB)
The price of Shiba Inu has started to rise from previously dropping to the lowest level of $0.00001927. Currently, the price is up to $0.0000221 with a market cap of $13,029,843,812, although it is down 5%.
However, Shiba Inu trading volume was at $1,109,046,857 after a 5.26% rise. The increase shows an increase in demand for altcoins in the market.
Also read: Shiba Inu Burn Token Makes Shiba Inu Market Cap Soar Sharply
Cardano (ADA)
Cardano is currently trading at $0.4553 after dropping 6%. Market capitalization also fell 6%, with a value of around $16,213,490,059. Likewise, its trading volume fell to $661,243,887 after a 16% decline.
Despite the current low price, ADA's value recovered slightly from April 14 data, when the price fell to a low of $0.412.
Crypto analysts expect the price to rise to $3 as it did in October 2020. A similar pattern was seen on Cardano's chart in 2020, where the price rose to a high of $3 after recovering from a price drop to $0.10.
Conclusion
The Bitcoin halving will probably start a bull run (uptrend) immediately after this correction period. This could take months, but for now, the crypto market is experiencing constant price fluctuations.
Analysts expect some altcoins to recover from this decline and enter an outperformance zone before the halving begins. However, it will be necessary to see how the altcoin behaves in the next few days to recover from the losses.
Check Crypto Prices Today:
It is important to remember that the crypto market is highly volatile and there is no guarantee that these altcoins will recover. Investors should always do their own research before investing in crypto.
Dear Beli Crypto 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:
5 Altcoins Have a Chance to Rise 1000% when Bitcoin Falls? This is the Altcoin List
Tips for Finding Altcoins that will Rise
3 Most Potential Altcoins This Week
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.
Comments
0 comments
Please sign in to leave a comment.