Altcoin
Best Altcoins to Buy If Bitcoin Falls Below $60,000
With another surge in supply, Bitcoin price drops back towards the $60,000 demand zone. Amid such conditions, the altcoin sector is collapsing with the altcoin market cap clinging to $1 trillion.
However, institutions are bullish in the long term with Bitcoin anticipating hitting $100,000 in 2024. Hence, a dip below the $60,000 zone will bring a great opportunity to accumulate altcoins at lower prices. So, let’s take a closer look at some high-potential coins to buy if BTC slips below $60,000.
Toncoine (TON)
With an uptrend in motion, TON price is showing a rising wedge on the daily chart. Furthermore, the altcoin is maintaining its dominance above the 50-day EMA and is up 53% in the past two months.
However, the rising supply above forms a resistance trendline that completes an ascending wedge. In addition, the MACD and signal lines on the verge of a bullish crossover reinforce the possibility of an uptrend.
With a breakout rally, TON price can surpass the psychological $10 mark and potentially reach the $13.26 level. If it breaks below the 50D EMA, the altcoin might test the $6 mark, which is a good point to buy the dip.
Trunk (TRX)
With a bullish breakout rally of a triangle pattern, TRX price reveals a moving uptrend. Also, the bull cycle completes a rounded bottom reversal to avoid a death cross between the 50D and 200D EMA.
Currently, TRX price is trading at $0.12 with an overnight jump of 1.16%. Furthermore, the altcoin is up 15% in the last 35 days, leading to a positive trend in MACD and signal lines breaking above the zero line.
With the breakout of the rounded bottom, TRX price tests the 61.80% Fibonacci level and teases a bull run to the $0.14 mark. In case of a cryptocurrency market crash, the altcoin can test the $0.12 or $0.10 mark before resuming a fresh bull run.
Confluence (CFX)
With a falling wedge similar to other altcoins, the CFX price trend is under bearish influence in the short term. As the bull cycle gains momentum, the altcoin is preparing for a breakout rally.
However, the breakout rally will face multiple resistances such as the 50D EMA, 200D EMA, $0.20 resistance and Fibonacci 23.60%. Hence, a sideways trend is possible near the overhead supply zone.
With the acceleration of the bullish crossover between MACD and signal lines, the CFX price could reach the 50% Fibonacci level at $0.28.