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 dropped 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) has been testing a critical support line since May 2021, as seen in the chart below. 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)
As we have mentioned in the news of Kriptokoin.com, the price of Algorand (ALGO) seems to be caught in a fall trap and it has reached the levels of March 2021. Additional decreases are expected from the region. 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)
dYdX price is slightly higher than other altcoins as it could spark a recovery long before popular altcoin projects. 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.
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