Altcoins
These Altcoins Could Crash Heavily in the Week Ahead
As bearish influence has led to a huge crash in the crypto market over the past 36 hours, FUD sentiments are on the rise. The drop is leading many to take profits in their own right, putting further pressure on weak altcoins.
With the broader market anticipation of a bullish return of major coins, some altcoins could see a prolonged decline in the coming week. So here is a list of altcoins to trade with caution, as they could crash sharply next week.
HBAR Price Prevents EMA 200D Outage
Amidst a falling market, the HBAR price trend shows a strong moving momentum downtrend. The altcoin is trading below the 50D EMA and testing the 200D EMA as well as the long-term support trendline as it loses the psychological support of $0.10.
As the bullish confluence is under pressure, the dynamic support at $0.094 may break soon. Therefore, the upcoming week in HBAR price trend could be extremely bearish and fall as low as $0.073.
VET Price Warns of Trendline Breakout
With a downward support trendline in play, the falling VET price puts further pressure on the demand line. Additionally, the 200D and 50D EMAs are about to experience a bearish crossover.
Down 7.92% last night, the bearish engulfing candle undermines the previous sideways trend, revealing a negative trend. Additionally, the altcoin’s 2.03% intraday decline warns of a bearish breakout.
A crackdown below the trendline will cause the altcoin price to plunge to the $0.026 support level.
ALGO
With a drop of 6.20% last night, the price of Algorand undermines the weekly recovery and warns of a break of $0.16. Additionally, the merged 200-day and 50-day EMAs signal a death crossover, cementing the downtrend reversal.
Additionally, given the resistance trendline in play, the bearish influence is extremely high on the daily chart. A breakdown below $0.16 will cause a massive drop in Algorand. In such a case, the price of the altcoin could fall as low as $0.10.