Top 4 Altcoins That Defy The FTX Fiasco
The price action displayed by top altcoins in recent times has yet to be encouraging with the market’s erratic price movement after a cascading effect suffered by FTX led to many altcoins, including the price of Ethereum (ETH), battling for survival. The Domino effect of the FTX saga and other huge investors has left the market at a standstill as the market has yet to make a major move. Still, there have been some great price movements by these top 4 altcoins lately despite the uncertainty surrounding the crypto market, leading to much fear about where the market could be headed. (Data from Binance)
Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and invest only what you can afford to lose.
Top 4 Altcoins- Trustwallet Token (TWT) Price Analysis On The Daily Chart
The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.
The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon.
A standout performer in these times has been TWT as the price rallied with over 100% gains in less than 48hours as the price broke out with strong bullish sentiment above $1, rallying to a high of $2.7 before facing rejection to a region of $3.
The price of TWT trades at $2.1, holding up well above the 50 and 200 Exponential Moving Averages as the price eyes further movement to the upside. If the price maintains its structure and bullish movement, we could see the price rallying to $3.
Price Analysis Of Litecoin (LTC) On The Daily (1D) Chart
LTC’s price has recently outperformed BTC after showing a bullish trend despite the market’s uncertainty due to the FTX fiasco.
Despite facing rejection to a region of $50, the price of LTC bounced off from this area as the price rallied to reclaim the 50 EMA acting as strong support for the price of LTC.
If the price of LTC holds above $60, we could see the price rally to a high of $65-$70 in no time.
Price Analysis Of GMX On The Daily (1D) Chart
The price of GMX was rejected from its resistance of $48 and is currently trading at $39.
GMX has maintained its bullish structure despite the rejection and market turmoil that has affected most crypto projects. The price of GMX needs to hold above the region of $35 to avoid the price going lower.
Top 4 Altcoins- Price Analysis Of Chiliz (CHZ) On The Daily (1D) Chart
The price of CHZ has continued to show bullish trends holding well above the 50 EMA.
Despite the pullback across crypto assets in the market, CHZ has continued to look strong, respecting the bullish trendline.
The price of CHZ broke the resistance at $0.236, a close above this region could send the price to a region of $0.3.
Featured image from zipmex, Charts from TradingView.com