Markets
3 Altcoins to Sell Amid Crypto Market Correction
The crypto market saw slight corrections with altcoins and meme tokens moving sideways. Broader losses are driven by a loss of sentiment after Bitcoin’s price fell below $70,000. Bitcoin is trading at $66,991, down 1.1% in the last 24 hours, taking weekly outflows to 6%. This fall from previous resistance levels above $70,000 has affected investors in the market.
Altcoin outflows have reduced the crypto market value to $2.44 trillion as the weekly position plummets into the red zone. Altcoin leaders made gains in the last 24 hours, but a number of other assets maintained outflows. Although bulls project a recovery, short-term losses have slowed asset growth. Here are altcoins to sell amid market losses.
Cardano (ADA)
Dubbed community Ethereum Killer has seen outflows this week as daily losses continue. ADA is down 2.3% in the last 24 hours and a further 14.53% this week. The asset’s daily trading volumes plummeted 32% as sentiment fell. Cardano price trades at $0.4127, with bulls trying to push the asset past the $0.5 resistance level. ADA’s consistent outflows place it among the altcoins to sell amid short-term losses.
Ripple (XRP)
Ripple lost momentum in the first quarter of 2024, although there are many prospects for the asset. Daily losses continue to mount for XRP following the altcoin market decline and regulatory issues with the Securities and Exchange Commission (SEC). The asset is down 1.9% today, trading at $0.478, while daily volumes are 14% in the red zone. Ripple bulls are also looking for a short-term boost above $0.5 and a long-term rebound above $1 if market sentiments change.
Solana (SUN)
Solana it trades at $144.98, falling 3.2% in the last 24 hours and 15% this week. Daily trading volumes are also down 23% as short-term corrections are stronger. This week, Solana reclaimed the $150 mark before falling below the resistance level. Known for outperforming altcoins in recoveries, bulls express optimism for long-term growth, but short-term losses put the asset in the red zone.
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David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and keeps an eye on the latest news. Staying up to date with trends, David has reported on various niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from financial markets, David rides his bike and horses.