The crypto currency market started April with green color. However, behind this rise may be a hidden correction potential. Although investors who have left behind the faint performance of March, it enters April with hope, for some assets, this may only be a short -term breathing. Here are 5 crypto currencies that need to be disposed of before prices fall.
Compound (Comp): Hard profit sales after the rise at the door
Compound experienced a huge 70 %leap with South Korean stock market upbit’s listing news. Although the price sees $ 71 in a short time, it is now traded at $ 46. Most of the investors, the rise following the list of listing, knowing the opportunity to pocket their profits.
In addition, close to 1,400 %increase in daily transaction volume is seen as a sign of short -term speculative movements. According to technical analysis, RSI and volume data show that the pressure pressure may increase.
Bitcoin (BTC): Reverse winds are blowing at the limit of $ 85,000
Bitcoin approached 85 thousand dollars with an increase of 3 %on April 1. However, it is unclear whether this rise will be permanent. The decline in weak US manufacturing PMI data and job advertisements reduces the risk appetite.
On the other hand, the Planning of ASIA COUNTRIES against customs tariffs against the United States is also concerned about BTC investors. The output of $ 93 million from Bitcoin ETFs shows that the acceleration of the rise is weakened.
Ethereum (ETH): The struggle for $ 2,000 continues with weak foundations
Ethereum reached $ 1,900 with a 4 %rise on April 1. However, the sustainability of this movement is controversial. ETH/BTC ratio has decreased to the lowest level of the last five years; This shows that Ethereum has lost its market share.
ETH, which has lost 46 %since the beginning of the year, undermines investor confidence. Technical indicators also show that this rise may be temporary and the risk of further correction is on the table.
Solana (Left): The risk of decreasing in FTX shadow increases
Although Solana has risen at the end of March, FTX’s sales of $ 800 million make investors anxious. The left was rejected from $ 145, and now analysts say that the $ 100 level can be tested.
In addition, the overvaluation of the Memecoins on the Solana network may be a harbinger of large corrections. Resistance levels in technical analysis indicate that sales pressure may increase.
Dogecoin (Doge): The rise like a joke may not be real
Dogecoin rose to $ 0.1720 with an increase of 4 %on April 1. However, there is no strong foundation behind this rise. Elon Musk’s announcement that Dogecoin would not be adopted by the United States frustrated investor expectations.
Technically, the price of the Doga failed to break the falling wedge formation at the end of March. Fake breakage and low volume suggest that this rise is temporary.
