Altcoins To Watch Out: Wedge Breakdown in Notcoin, Reversal Flops For FLOKI, BRETT Breakout Run Aims 2x Surge This Week

In the crashing crypto market, the top and trending altcoins are hit by 20% or more correction within a day. As the selling pressure intensifies all over the market

Amidst the market downturn, several promising altcoins are poised for a potential rebound next week. These coins have exhibited resilience despite the selling pressure and present opportunities for quick gains.

1. Notcoin (NOT):

- Notcoin has experienced a significant decline, reaching a low of $0.0091 before breaking below the crucial psychological level of $0.010.

- As the selling pressure intensifies, a falling wedge breakdown is evident on the daily chart.

- With a 52% price drop in the last three weeks and a breach of the 61.80% Fibonacci level, the altcoin is primed for a sharp recovery.

- Intraday price action shows a pullback to the 78.60% level, indicating a potential for further decline.

- A breakdown below $0.0090 could lead to a 50% drop, finding support at $0.0047.

- However, intraday candles show a lower price rejection, offering hope for a reversal next week.

- As per Fibonacci levels, a recoil in the altcoin price could hit the 50% level at $0.015.

2. FLOKI:

- After an initial recovery on Tuesday, the FLOKI price failed to sustain the momentum, leading to a reversal.

- Breaking below the 38.20% Fibonacci level, it fell further to breach the 23.60% support.

- This price action cancels out the double bottom reversal possibility and aligns with the bearish trend.

- As the altcoin experiences a steep correction, the 56% drop over four weeks forms a triple black crow formation.

- With a 30% decline in three days, including the 10.25% intraday drop, the altcoin seems poised for a final downturn.

- However, approaching the crucial support of $0.000112, buyers may介入, hoping for a reversal.

- A potential turnaround next week can result in a jump to the 38.20% Fibonacci level at $0.0001835.

3. BRETT:

- As meme coins take a massive hit, the BRETT price trend follows suit.

- After a quick bearish landslide move, the altcoin has dropped by 33% in four days to test the crucial psychological mark of $0.10.

- Currently, the meme coin trades at $0.10902 with an intraday drop of 16.27%, completing the fourth consecutive bearish candle.

- Furthermore, the altcoin tests the 50% Fibonacci level, which coincides with the psychological support.

- As the lower price rejection in the intraday candle keeps the hope of reversal, the broader market sentiment is filled with fear.

- Fearful investors may quickly book their positions, leading to a potential drop in the BRETT price to $0.062 (78.60% Fibonacci level).

The above is the detailed content of Altcoins To Watch Out: Wedge Breakdown in Notcoin, Reversal Flops For FLOKI, BRETT Breakout Run Aims 2x Surge This Week. For more information, please follow other related articles on the PHP Chinese website!