Analyst Anticipates a 30-50% Price Plunge for These 10 Altcoins, Indicating a Potential Crypto Correction Imminent

Bitcoin Struggles to Break $67,000, Concerns Rise for Crypto Market

Bitcoin has reached new heights, surpassing $63,000. However, Crypto Banter’s recent analysis reveals that the cryptocurrency is facing significant resistance levels and is unable to break past $67,000. This is causing a sense of uncertainty and worry in the market.

Altcoin Market in Focus

Delving deeper into the world of digital currencies, attention is now shifting to altcoins within the broader bull market. Analysts are scrutinizing market cycles, such as left-translated cycles, right-translated cycles, and double tops, in order to gain insights.

According to the analysis, many altcoins could experience a dip of around 30% to 50%. Specific altcoins, including AI, AGI, GRT, OCEAN, and others, were mentioned, with indications of potential downside movements and support levels. The analysis highlights that most altcoins are being rejected from mid-range levels, suggesting the possibility of further declines.

Top Altcoins to Watch Out For

SingularityNET (AGI) is potentially facing a 30% retreat, with support at $0.67 indicating further turbulence ahead.

The Graph (GRT) could experience a 30% descent, urging investors to be cautious during potential short-term declines.

Ocean Protocol may see a 25% downturn if it retraces its steps, prompting investors to monitor support levels for entry opportunities.

AP Coin’s trajectory suggests the possibility of fresh lows, painting a bearish picture for its future.

Axie Infinity (AXS) faces a significant 47% downturn if market conditions worsen, requiring a strategic approach from investors.

Bluzelle (BLZ) is at a crossroads, with a potential 37% downturn looming if mid-range support weakens. Investors are advised to brace for further turbulence.

Aelf (ELF) is raising concerns with a deviation from the norm, signaling a potential downward spiral. Investors are urged to exercise caution during uncertain times.

Decentraland (MANA) could potentially retreat by 15%, prompting investors to keep an eye on support levels for opportunities.

Injective Protocol (INJ) teeters on the edge of a potential 39% downturn, and traders are advised to stay vigilant for entry points.

THORChain (RUNE) faces a 25% downturn if it plunges further, prompting investors to monitor price action for potential entry points.

Seize the Opportunity

Altcoins, while strong, are heavily influenced by Bitcoin. The possibility of a 30-50% decline emphasizes the need for investors to fortify their portfolios during turbulent times.

Although a correction may be imminent, investors are cautioned against panicking. Instead, this downturn should be seen as an opportunity to accumulate assets at discounted prices, potentially leading to future gains.

So, are you feeling bullish or bearish? Let us know.

Tags: Altcoins, Bitcoin, Price Analysis