The cryptocurrency market has regressed with the declines in Bitcoin last week. Leading crypto experts pointed to these declines and stated that 5 altcoin projects could rise in the bear market! In this process;
- Kava (KAVA) price increased by 11.61 percent
- Bitcoin SV (BSV) price increased by 7.23 percent
- FLOKI (FLOKI) price increased by 5.06 percent
- Aragon (ANT) price increased by 4.50 percent
- UMA (UMA) price increased by 3.43 percent
These 5 altcoin projects can explode in a bear market!
Kava (KAVA)
The price of the popular altcoin KAVA, which has been on the rise in the bear market, has rallied ever since it dropped to $0.66 on May 8. For KAVA, the increase was crucial for two reasons. First, the price retraced the $0.76 horizontal area. This is a very important support area and the price has fallen below this before. Thus, its recovery is often a bullish sign that leads to sharp upward moves. Next, the price broke out of a descending resistance line and supported the possibility of a correction complete.
If the upside continues for the popular altcoin KAVA, the next resistance will be $0.96. However, if the rally loses momentum, KAVA could drop back to the horizontal support area of $0.76. Instantly, KAVA is trading at $1.03.
Bitcoin SV (BSV)
BSV price, ranked second on the list, broke out of a descending resistance line on May 12. Previously, this line stood in place since August 2022. The breakout is therefore a sign that the correction is over, according to experts. Currently, the price is in the process of confirming the line as support (green icon).
If successful, it could rise to the next resistance level at $48. However, if the price drops below the resistance line, it could slide as low as $28.
FLOKI (FLOKI)
In the current bear market, the price of the popular altcoin FLOKI has been trading inside an ascending parallel channel since March. These channels often contain corrective structures, meaning that an eventual break out of the channel will likely be. Additionally, the price is trading at the bottom of this channel, further strengthening this possibility.
If FLOKI breaks down, it will drop to the next support at $0.00002. However, if it regains its footing, it could rally to the resistance line of the channel at $0.00005.
Aragon (ANT)
The price of popular altcoin Aragon (ANT) broke above the $3 resistance area at the end of March and hit a new year high of $3.97 the following month. Although the price has declined, it is still trading above the $3 horizontal area.
If the increase continues, ANT could move towards the next resistance at $4.20. However, if ANT closes below $3, there could be a drop to the ascending support line at $2.50.
UMA (UMA)
Another project on the list, altcoin UMA price broke out of the $2.30 resistance area on May 5, but bounced back on May 12. It is possible for the price to confirm the region as support.
cryptocoin.com According to the comments of the experts we quoted, the jump or fall of the UMA price can determine the future trend. A bounce could lead to an increase towards $3, while a breakdown would likely take the price to the $2 high support line.
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