Markets
3 cryptocurrencies under $5 to sell before Bitcoin drops below $60K
Investors in the crypto market are trying to keep their heads above water after suffering at the hands of bears for an entire week. With Bitcoin Price Looking ahead to a potential drop to $60,000 this week, more pain could be waiting. Altcoins are similarly languishing in losses, led by Ethereum’s drop below $3,500. If negative sentiment in the market does not abate, investors may want to consider cryptocurrencies sell to avoid further losses.
Rebalancing crypto portfolios is not an easy task. For many, and especially in current market conditions, it means making losses. However, some difficult decisions must be made to safeguard future profits.
Therefore, before Bitcoin drops to $60,000, investors can consider the cryptocurrencies to sell listed below. It is also essential that investors use this as a guide and conduct extensive research before taking any major actions regarding their portfolios.
1. Pepe Coin
Pepe rose a modest 8.5% to $0.00001141 during US trading. The frog-themed meme coin sees an impressive 8.5% increase in market cap to $4.8 billion, ranking 23rd among other cryptocurrencies on the market. CoinMarketCap. Its trading volume is over $1 billion, making it the 11th most traded digital asset in 24 hours.
Pepe Coin price chart | Trading view
Pepe is among the few coins that sustained increases in the second quarter of the year, to the point of reaching a new historic milestone. The meme coin has gradually become a favorite with whales, who buy it in large numbers, creating positive momentum.
Despite the impressive rally this week, Pepe has deviated from its ATH of $0.00001722 traded in May to $0.00001135. Support at $0.00001 holds firm as traders await a breakout of the falling wedge pattern.
A breakout of the wedge pattern could prompt more traders to buy PEPE, thus accelerating the recovery above two key levels – the resistance at $0.000014 and the record high at $0.00001722. It may be wise to move on from Pepe if the decline continues this week. Losing support at $0.00001 could be detrimental for cryptocurrency portfolios.
2. Dogecoin (DOGE)
Dogecointhe largest meme coin, has fallen to multi-month support levels, signaling a crucial moment for a notable recovery or prolonged correction.
O DOGE Price has seen a slow but steady correction trend, rebounding into two descending trendlines over the past three months. Trendlines act as major dynamic resistance and support for this memecoin, developing a bullish continuation pattern called a flag.
Under the influence of this pattern, DOGE price fell from $0.228 to 15-week low of $0.113, recording a loss of 50.4%. However, the price is now stabilizing around $0.12, accompanied by other technical levels such as 50-week EMA, 61.8% FIB, and flag support trendline.
Dogecoin price chart
Dogecoin’s failure to break above the $0.13 resistance and continue above $0.15 could signify a lack of direction. Pressure on support at $0.12 could lead to further losses, with drops below $0.1 likely. Investors should consider whether Dogecoin is one of the cryptocurrencies to remove from their portfolio if no positive progress is made in the coming weeks.
3. Lido DAO (LDO)
According to data from CoinMarketCap, the Lido DAO token experienced significant trading volume, which soared over 31% to reach approximately $309 million. The market capitalization also increased sharply by around 15.83%, standing at around $2.12 billion. This outbreak placed I MAKE in 43rd position in the market capitalization ranking.
LDO continues to trade in the range of $1.82 to $2.39, reflecting increased trading activity. Over the past 30 days, LDO has seen an overall increase of approximately 36%, indicating an upward trend.
Lido DAO price chart | Trading view
Read DAO is experiencing a notable uptrend that could signal the start of a bullish period. If this positive trend persists, it will soon break the $3 resistance barrier. A continued rise could push its value towards the $4 mark, with aspirations of reaching $5 in the next bull cycle.
On the other hand, a change in market dynamics could solidify Lido DAO’s position at a support level of $2.36. If the decline continues, the LDO price could drop to $2, indicating a shift toward a bear market environment. Should this recession intensify, investors could add LDO to cryptocurrencies to sell in June as they eagerly await the next big advance.
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