Sohrab Khawas
With another surge in supply, Bitcoin price takes another dip to the $60,000 demand zone. Amidst such conditions, the altcoin sector plunges with the altcoin market cap clings to $1 trillion.
Nevertheless, the institutions are bullish in the long term with the anticipation of Bitcoin hitting $100,000 in 2024. Hence, a dip under the $60,000 zone will bring a great opportunity to stack altcoins at lower prices. So, let’s take a closer look at some high-potential coins to buy if BTC slips under $60,000.
Toncoin (TON)
With a bullish trend in motion, the TON price shows a rising wedge in the daily chart. Further, the altcoin sustains dominance above the 50D EMA and is up by 53% in the last two months.
However, the increasing overhead supply forms a resistance trendline that completes a rising wedge. Further, the MACD and signal lines on the verge of a bullish crossover bolster the uptrend chances.
With a breakout rally, the TON price can surpass the $10 psychological mark and potentially reach the $13.26 level. In case of a breakdown under 50D EMA, the altcoin could test the $6 mark, a suitable spot to buy the dip.
Tron (TRX)
With a bullish breakout rally of a triangle pattern, the TRX price reveals an uptrend in motion. Further, the bull cycle completes a rounding bottom reversal to avoid death cross between the 50D and 200D EMA.
Currently, the TRX price trades at $0.12 with an overnight jump of 1.16%. Further, the altcoin has been up by 15% in the last 35 days, leading to a positive trend of MACD and signal lines surpassing the zero line.
With the rounding bottom break, the TRX price tests the 61.80% Fibonacci level and teases a bull run to the $0.14 mark. In case of a crypto market dump, the altcoin can test the $0.12 or $0.10 mark before reinstating a fresh bull run.
Conflux (CFX)
With a falling wedge similar to other altcoins, the CFX price trend is under a bearish influence in the short term. As the bull cycle gains momentum, the altcoin prepares for a breakout rally.
However, the breakout rally will face multiple resistances like the 50D EMA, 200D EMA, $0.20 resistance, and 23.60% Fibonacci. Hence, a sideways trend is possible close to the overhead supply zone.
As the bullish crossover of the MACD and signal lines gains momentum, the CFX price could land the 50% Fibonacci at $0.28.
