Bitcoin (BTC), while the cryptocurrency market continues to sell, hit the bottom of 2022 with $32,813.31 on May 9th. Solana, Terra and 2 altcoins may have hit bottoms in the current market crash, according to analyst Sahana Vibhute.
Amid the crypto crash, these 4 altcoins may have hit bottoms
Solana (SOL)
Solana (SOL) price It broke below a critical support level of $77.50. Now the bears are pulling the SOL price towards the $65.45 support. However, a small upside bounce could be seen in the company of fresh buyers just below $70. According to the analyst, this scenario could push the SOL price back to $77.5. Therefore, the gradual rise below $100 is expected to result in a parabolic recovery to $100 again. The technical view is as follows.
Terra (LUNA)
Terra (LUNA), as seen in the graphic below, has been a critical hit since May 2021. testing the support line. If the price breaches this support line, the bears’ next target will be $50 and lower, extending to the 0.6 FIB levels. Specifically, a drop to $48.67 could be seen. At the same time, this region is expected to attract new buyers. A possible upside reaction from the region would suggest the price regain momentum above the trendline and make a quick rally to around $75. The following technical chart can be followed for the coming days.
Algorand (ALGO)
Algorand (ALGO) price appears to be caught in a fall trap, and further declines are expected from the region where it reached March 2021 levels. After the $1 zone is rejected, the bulls are struggling to recover the price from lower levels but the door to $0.5 may be open after finally breaking $0.67. At this stage, he thinks ALGO price could retake $1 if the bulls can reach the top of the falling wedge.
dydX (DyDX)
The price of dYdX is slightly higher than other altcoins as it could spark a recovery long before popular altcoin projects on the rise. The price after reaching the top of the consolidation broke out of the descending consolidation but is finally currently being retested. Therefore, a retest could pull the price towards the low support near $3 and ignite a reversal that could aim higher towards the 2-digits in the coming days.
