Top Altcoins To Stack As The Market Recovers from Recent Correction

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Price Analysis
Top Altcoins To Stack As The Market Recovers from Recent Correction
Author: Sohrab Khawas

Mar 16, 2024 16:35
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Top Altcoins To Stack As The Market Recovers from Recent Correction
With the crypto market participants witnessing a huge increase in supply pressure this week, the sell-off run with profit bookings has begun not just in Bitcoin but also altcoins. Following a couple of weeks of high momentum bull run, the market takes a quick plunge before reaching the highly anticipated $3 trillion market cap.

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With this sell-off coming before the most-awaited Bitcoin Halving in April 2024, the altcoins are under a retest arc. Amidst the falling market of altcoins, some tokens are worth buying at lower levels as they have a high potential to bounce back with the market recovery to scale new heights.

Looking out for such altcoins to outperform the market in the next recovery? Well, we bring to you a list of our Top altcoins to stack as the market recovers from recent correction.

Top Altcoins To Stack
Avalanche (AVAX)

Amidst the market pullback and recovery, the AVAX price trend remains mostly unaffected and continues the bull run. Crossing above the crucial barrier of the 50% Fibonacci level, altcoin sustains its place amongst the top performers. Thus, the altcoin remains one the top choices to to stack ast the market recovers.


Tradingview

As per the weekly chart, the AVAX price shows a bullish reversal with a rounding bottom breakout to surpass the $50 mark. As the buyers reclaim this psychological mark, the possibility of an uptrend in Avalanche increases significantly.

With this breakout rally, the altcoin is ready to hit the $100 mark at the 78.60% Fibonacci level. Hence, the breakout event brings an entry opportunity for sideline traders.

Solana (SOL)

Known for being one of the top blue chip performers in the crypto industry, this altcoin has seen it all. From crashing more than 90% in the 2021 bear market to a remarkable recovery in 2033. With such resilience and a strong network, Solana is on everyone’s list of top altcoins to stack as the market recovers.


TradingView

Upon analyzing Solana’s weekly chart, I noticed that the price has displayed a quick reversal in the last few months. Further, the uptrend remains unaffected under the recent market correction and continues to make a bullish weekly candle with a 36% return.

As the SOL price aims to cross the 78.60% Fibonacci retracement level, the altcoin is closing towards the $200 psychological mark. Upon this breakout, the uptrend can easily reach the $250 mark as the market recovers.

Fantom (FTM)

Being one of the top-performing low-cap coins in the list of Top 100 cryptocurrencies, Fantom is signaling a trend reversal starting in the weekly chart. With a bullish reversal of more than 100% in March 2024, the FTM price is witnessing a huge increase in underlying demand, leading to a bull run.


TradingView

With a minor hiccup on Thursday, the bull run continues in Fantom and crosses the 23.60% Fibonacci retracement level. This increases the bullish gap in the 50W and 200W EMA, post-golden crossover.

Hence, with the rising buying pressure and the breakout event, the FTM price trend is highly likely to reach $2.

PYTH Network (PYTH)

The recently launched PYTH network found a quick rise in demand in 2024, and this year’s bull market contributed to the increase. Rising from the low of $0.21 to its all-time high of $1.15, the PYTH price action displays an excellent uptrend. Hence, this Top altcoin is one to stack as the market recovers.


Tradingview

Breaking above the rising channel pattern, the PYTH price showcased an 86% rise in the last ten days. With this uptrend and breakout event, the sideline traders are hopping on the rising native token’s price.

Further, the altcoin breaks above the 1.618 Fibonacci level, hinting at a bull run extension. Therefore, the PYTH price could surpass the psychological mark of $1.50 in the coming recovery session.

Altcoins Price Analysis
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