With another surge in supply, Bitcoin price takes another dip to the $60,000 demand zone. Amidst such conditions, the altcoin sector plunges with the altcoin market cap clings to $1 trillion.
Nevertheless, the institutions are bullish in the long term with the anticipation of Bitcoin hitting $100,000 in 2024. Hence, a dip under the $60,000 zone will bring a great opportunity to stack altcoins at lower prices. So, let’s take a closer look at some high-potential coins to buy if BTC slips under $60,000.
Toncoin (TON)
With a bullish trend in motion, the TON price shows a rising wedge in the daily chart. Further, the altcoin sustains dominance above the 50D EMA and is up by 53% in the last two months.
However, the increasing overhead supply forms a resistance trendline that completes a rising wedge. Further, the MACD and signal lines on the verge of a bullish crossover bolster the uptrend chances.
With a breakout rally, the TON price can surpass the $10 psychological mark and potentially reach the $13.26 level. In case of a breakdown under 50D EMA, the altcoin could test the $6 mark, a suitable spot to buy the dip.
Tron (TRX)
With a bullish breakout rally of a triangle pattern, the TRX price reveals an uptrend in motion. Further, the bull cycle completes a rounding bottom reversal to avoid death cross between the 50D and 200D EMA.
Currently, the TRX price trades at $0.12 with an overnight jump of 1.16%. Further, the altcoin has been up by 15% in the last 35 days, leading to a positive trend of MACD and signal lines surpassing the zero line.
With the rounding bottom break, the TRX price tests the 61.80% Fibonacci level and teases a bull run to the $0.14 mark. In case of a crypto market dump, the altcoin can test the $0.12 or $0.10 mark before reinstating a fresh bull run.
Conflux (CFX)
With a falling wedge similar to other altcoins, the CFX price trend is under a bearish influence in the short term. As the bull cycle gains momentum, the altcoin prepares for a breakout rally.
However, the breakout rally will face multiple resistances like the 50D EMA, 200D EMA, $0.20 resistance, and 23.60% Fibonacci. Hence, a sideways trend is possible close to the overhead supply zone.
As the bullish crossover of the MACD and signal lines gains momentum, the CFX price could land the 50% Fibonacci at $0.28.
This article was originally published by a coinpedia.org . Read the Original article here. .
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. BitcoinNews.best does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
