The post Should You Buy Altcoins Now? APT, PYTH, ENA Target A Recovery Week! appeared first on Coinpedia Fintech News
With the altcoins market, excluding Bitcoin and Ethereum, crashing under $600M, bearish clouds turn darker over crypto. Amid such conditions, a fresh recovery day with BTC hitting $62k shows a relief jump in altcoins.
Further, despite the global tensions heating up, these altcoins are teasing a bounce back next week. Should you be buying altcoins in such conditions? Let’s find out now in Coinpedia’s altcoin analysis.
Top Altcoins Ready For A Price Jump
Aptos (APT)
With a bullish trend reversal in the daily chart, Aptos (APT) price surpasses the 200D EMA. The uptrend sustains dominance above the 23.60% Fibonacci level at $8.11 and teases a golden crossover between the 50D and 200D EMA.
The bullish trend shows a rounding reversal despite the broader market downfall, increasing the possibility of a bull run. Further, the daily RSI line shows a bullish trend approaching the overbought zone.
Based on the Fibonacci levels, the 23.60% Fibonacci level breakout run is heading to the 38.20% Fibonacci level at $10. Further, a boost from broader market recovery could scale to the $15.28 mark.
Also, read our Aptos Price Prediction for future price targets!
Pyth Network (PYTH)
With a trend reversal rally, the PYTH token shows a bullish turnaround from a crucial support of $5. The reversal run shows a triangle breakout run and a local support trendline at play.
Further, the uptrend prolongs the daily RSI heading back from the halfway line. The recovery rally in PYTH is heading towards the 200-day EMA as it sprouts from the 50D EMA.
Based on the Fibonacci levels, an uptrend continuation above the 23.60% Fibonacci level at $0.4489 could target $0.50 or $0.67.
Ethena (ENA)
In the daily chart, the ENA price action shows a consolidation range between $0.20 and $0.37. Further, the underlying shift in sentiments teases an inverted head and shoulder pattern with a neckline at $0.37.
Currently, the pullback phase teases a right shoulder formation as it hangs near the 50D EMA. Based on the price action, the neckline breakout will result in a price jump to the $0.50 psychological mark. Optimistically, an uptrend amid market recovery will put the $0.70 and $0.85 levels on the target list.