There are cryptocurrencies in the basket of Bitcoin and altcoin enthusiasts in Turkey. In particular, the movements of these cryptocurrencies are closely followed. On the other hand, warnings always attract attention. Now there is such a warning in the graphics. Let’s look at the details.
Warning for 5 altcoins
Altcoin Polkadot (DOT) price dropped to a year low of $4.2. With the subsequent rise, it found support at $5.2. The bulls held this level for 27 days. It has formed a bullish divergence on the daily RSI indicator (blue line). This is a signal that a recovery is possible. However, the price broke below the horizontal support level at $5.2 yesterday, showing the continuation of the previous downtrend. The RSI indicator also fell below the bullish divergence line during this period. An invalidation of a bullish signal often leads to a sharp decline. Therefore, the altcoin DOT price is likely to drop to a year low of $4.2 in the near future.
On the other hand, altcoin Near Protocol (NEAR) has a similar appearance to Polkadot (DOT). However, it is giving further bearish signals. NEAR price settled below the key $1.7 support level. Confirmed as resistance from 8 May to 5 June. This is a bearish development that shows the bears are in control of the market. Indeed, NEAR price broke below the minor $1.55 support level, indicating a continuation of the downtrend. Therefore, the NEAR price is likely to drop to the lowest level of the year at $1.2 in the coming days.
PEPE fell sharply
Pepecoin (PEPE) suffered a significant decline as it dropped to $0.00000102. The token has experienced a significant drop of 14.4% in the last 24 hours. Accordingly, the decline in the last seven days was even more alarming. The decline reached an astonishing 28.4%. Pepecoin had a market cap of over a billion dollars at its peak. However, the recent downturn has caused the token’s market cap to drop below $500 million. Pepecoin’s failure to make a corrective bounce raises questions about the underlying factors contributing to its decline. While there could be many factors, one possible explanation lies in the changing market sentiment towards meme tokens.
cryptocoin.com As we mentioned, these tokens, which have generally gained popularity through viral meme coins and social media trends, have faced increasing scrutiny and skepticism as investors become more selective about their investment choices. As altcoin Pepecoin continues to grapple with its current stalemate, market participants are wondering if the token can regain lost value or whether its decline will be a turning point for meme tokens as a whole.
4% drop in Ethereum price
Ethereum price failed to clear the $1,920 resistance. Accordingly, altcoin ETH started a strong decline below the $1,900 and $1,880 levels. Also, the bears managed to push the price below the key $1,840 support. Conversely, there was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH/USD. The price is down over 4% and traded close to the $1,775 support.
A low was formed at the $1,777 band. However, the price is now consolidating losses. It slowly climbs above the 23.6% Fib retracement level of the downside move from the $1,912 high to $1,777 high. ETH is currently trading below $1,840 and the 100 hourly Simple Moving Average. Immediate resistance is near the $1,840 area. The next major resistance is near the $1,850 level or the 50% Fib retracement level of the downside move from the $1,912 high to $1,777 high. A decent move above the $1,840 and $1,850 resistance levels could send Ethereum towards $1,900. The next resistance is located at the $1,920 band, where altcoin Ethereum could rally to $1,965. Any gain above $1,965, which is the resistance zone, could send the price towards the $2,000 resistance.
Will Altcoin Solana rise?
The price of the once trending altcoin Solana (SOL) has dropped by nearly 50% in a year. It’s also down 95% from the highs it reached last year. On the other hand, it lost just over 8% on a daily basis. This latest price drop means SOL is trading at $19.88. From a technical standpoint, the price of altcoin SOL recently dropped below the key $20.14 support level. As a result, the altcoin’s price could continue to drop to around $19.15 in the next 48 hours. Technical indicators support the thesis that the price of SOL will continue to decline in the coming days. Because the RSI line on the daily chart has fallen below the RSI SMA line in the last 2 days. Also, the 9 EMA lines triggered a bearish flag.
It broke below the 20 EMA line early in today’s trading session. If these bearish technical flags are confirmed, the price of SOL could drop to the next key support level at $18.62. If the price of altcoin SOL drops to the aforementioned $19.15 mark, which is the level of the positive trendline, the bulls can identify this level as a buying opportunity. In such a case, the SOL could rise above the price point that was recently set at $20.14. After that, it can continue climbing. It could also retest the next major resistance level at $22.39.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.