Bitcoin’s $30,000 test failed once again. Bottom expectations continue in the altcoin market. Crypto investors are undecided due to the 80% drop from peak prices. In these conditions, a popular cryptocurrency analyst predicts that altcoins will see an additional 50% to 70% drop from current levels.
In anticipation of a bear market bottom, DOGE and SOL altcoin will shine in the bear market
according to DonAlt, a well-known crypto expert explains his top cryptocurrency picks. You can find the hit predictions of the crypto analyst nicknamed DonAlt here. In a recent YouTube post, DonAlt predicted that altcoin prices could drop 50 to 70% from current levels. As Bitcoin (BTC) begins to show signs of recovery, the analyst says he will look at a number of other altcoin projects:
I believe Solana is a safe choice. It will be a great investment to take the position. To be honest, I think Dogecoin will go up a bit too. Not at these levels. I expect everything to be lower, like me, but eventually it will bottom out, I just don’t believe it will surpass the previous peak.
In the same video, another crypto strategist, Cred, explains why DonAlt chose Solana (SOL) and Dogecoin (DOGE) as their cryptocurrency choices and is more into cryptocurrencies.
I believe there are two reasons why we still see bidding, or at least recovery, in earlier cycle cryptocurrencies: familiarity and liquidity. That is all. They don’t stand out in any way. A hype doesn’t seem to be reviving. I think when they regroup they will do the same in the next cycle. These are all assumptions in my opinion.
Meanwhile, the analyst adds the exchanges’ local cryptocurrencies to the list. Global crypto exchange Binance’s token BNB and FTX’s cryptocurrency FTX Token (FTT) are two of the most popular cryptocurrency exchanges on the market.
BNB Coin lost $290; Can it expect a bounce in the next two days?
In his recent on-chain analysis, Akashnath, who updated his BNB forecasts, says that BNB Coin is under heavy selling pressure. BNB found some support at $295 over the past few days and managed to climb $312.
Over the past two weeks, BNB has traded between the support and resistance levels of $295 and $337, respectively. However, it dropped decisively below $295 soon after and the previous lows of $290 (with red dots) were also undefended.
On the technical side, the RSI on the hourly chart has dropped below the 40 level to show strong bearish momentum. In the last few days, this level has acted as support. The Awesome Oscillator was also well below the zero line but appeared to form a green bar on the hourly chart to signal a possible bounce.
In conclusion, Akashnath says that BNB Coin remains bearish:
If Bitcoin finds some support at $28.7K and sees a bounce, then BNB is likely to bounce back from the $275 demand zone. However, its short-term trend remains bearish.
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