Amidst the highly volatile and bearish crypto market, many altcoin Important support levels for are weakening. Unable to absorb the oversupply, many top players have corrected 30% or more in the past few days.
However, despite such a massive supply surge sparking a domino effect, some top altcoins are showing high recovery potential. Since the bull run in these coins is likely to continue, they could lead the next recovery rally in the crypto market.
So, let’s take a closer look at price analysis for a more confident approach.
ONDO
With a horizontal trend in motion, ONDO The altcoin’s 4H chart shows resilience to the market-wide sell-off. However, with Bitcoin Halving approaching and market sentiment normalizing from fear, the chances of recovery are increasing.
The dominance of the 200 EMA in the 4H time frame is prolonging the consolidation move. Moreover, the bullish divergence in the daily RSI increases the chances of a bullish reversal.
A rebound in ONDO price could reclaim the $1 psychological mark. In this context, it could lead to a new breakout rally. In such a case, the bull run could target the 1.618 Fibonacci trend-based retracement level at $1.32.
OCD (OCD)
OCD The weekly price chart displays a wedge formation with an uptrend high low trend. The altcoin is gaining sustained support from the 50W EMA, providing a trend continuation for the overall trend line breakout.
Currently, OKB price is stalled at the baseline and 50W EMA, anticipating a new bullish entry opportunity. Additionally, the important support level coincides with the 23.60% Fibonacci trend-based retracement level. Hence, solid underlying demand supports the chances of an uptrend.
If the uptrend breaks the 78.60% Fibonacci level at $74.5, the bull run could push altcoin prices to $100.
Toncoin (TON)
toncoin The notable uptrend on the price chart demonstrates solid demand at the support trend line. Despite the recent correction seen on the 4H chart, the altcoin is shifting gears to extend the uptrend with a new bounce.
TON price is up almost 10% in the last 16 hours and is teasing a rally beyond the $10 psychological barrier. With such huge demand and high momentum dominating the uptrend, the bull run could reach the $15 mark in the coming altcoin season.
Will These Altcoins Continue Their Uptrend?
As the selling wave reaches exhaustion point in the general market, altcoins are gaining momentum for a new recovery rally. The above-mentioned altcoins have high potential due to the current uptrend and underlying demand. Therefore, these altcoins could continue their uptrend and lead the next bull run if the broader market rebounds from Bitcoin Halving.
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