The best time to buy in investment cycles is when the drop is placed. This is because the time we witness this is when prices have lost at least 20% of their value. In this article, let’s look at the analysis for NFT tokens and altcoins that have reached multi-month support levels.
Low value NFT tokens you should follow
Bored Ape Yacht Club (BAYC)
The Bored Ape Yacht Club (BAYC) is one of the most famous NFT collections on the market today. However, for most of 2022, BYAC underperformed. In fact, on some platforms that allow leveraged trading of BAYC NFTs, investors are close to being liquidated. However, after months of downtrend and highest fears, there are analysts who say BAYC is about to recover. This is because volumes in the crypto market are drying up. Also just a few big sales are enough to trigger this.
CryptoPunks
CryptoPunks is another of the most popular NFTs on the market today. For months, CryptoPunks NFTs have been hit as cash flow to the broader cryptocurrency market has dried up. The price is currently moving sideways. This is interpreted as an indication that NFTs may bottom out. CryptoPunks is one of those NFTs that could be quite beneficial for investors in the short term if the broader market rebounds, spearheaded by a potential bullish breakout for Bitcoin.
My Neighbor Alice (ALICE)
After the consolidation between 19 and 23 August 2022, ALICE is gaining upward momentum. It indicates that the bulls are regaining control and ALICE may have bottomed out, according to some analysts. If the current momentum continues, ALICE price will easily regain $3 or more.
Altcoins reaching expected supports
As NFT tokens and collectibles continued to improve, there was also important news from more classic projects. In the second part, let’s take a look at altcoins that are approaching support levels after the last sell-off.
NEXO (NEXO)
NEXO is trading at $0.9944 today. It had recorded its ATH level at $4.07 on May 12, 2021. NEXO then entered a prolonged downtrend. On the downside, it found its bottom price at $0.5543. The first local top it has ever formed from this level is $0.7816. NEXO is currently trading 41% above the HL level of $0.7816 it recorded on July 19. Analyst Milko Trajcevski predicts that the price of NEXO will reach $1.5 by the end of August 2022.
Helium (HNT)
HNT price is trading around $6.76 today. The ATH level was $54.88 on November 12, 2021. Compared to the previous month, HNT had its lowest value point at $8,3461 on July 13. Its highest point was $10.48 on July 20. We could see an increase of $2,1339, or 25%, here. On further targets, the analyst expects $10 in HNT price by the end of August.
Waves (WAVES)
cryptocoin.comAs you follow, Waves (WAVES) is trading at $5.04 on August 25. At the ATH point, it hit a high of $61.30 on March 31, 2022. Looking at how HNT performed in July, it was the lowest on July 13 at $4,497. Its highest point was $6.5763 on July 20. The analyst here expects an increase of $2,0793, or 46%. The analyst’s year-end targets are over $7.
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