3 Mid-Cap Cryptocurrencies to Buy if the Market Correction Bottoms

Cryptocurrencies to Buy: Since last weekend, the crypto market has been trending slowly after BTC consolidated above $55,000. The sideways trend in most major coins indicates that the market momentum is stabilizing after the recent correction.

However, the price of Bitcoin is still fluctuating, with the risk of an even greater drop, as German government continues to download more BTC.

According to the latest data from cryptocurrency analytics firm Santiment, Bitcoin sentiment among traders on social media platforms such as X, Reddit, Telegram, 4Chan, and BitcoinTalk has reached the most bearish levels seen in the past year. The firm notes that this extremely bearish sentiment, also known as Fear, Uncertainty, and Doubt (FUD), could be a contrarian indicator, suggesting a potential recovery.

Santiment’s analysis highlights that when the crowd displays FUD of this magnitude, the probability of a price recovery increases significantly, often catching most off guard.

So if the market correction bottoms in July, the top for mid-cap stocks cryptos to buy Chainlink, WIF and Notcoin emerge as possible reversal signals.

Read too: Bitcoin Puell Multiple Flashes BTC Bull Run to Start Ahead in Q3

Cryptocurrencies to buy – Litecoin (LTC)

Litecoin (LTC) is a peer-to-peer cryptocurrency that was created to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.

Litecoin (LTC) | Trading

For the past five years, LTC price has been trading in a sideways trend resonating within two converging trendlines of the triangle pattern. The continuation pattern is known to drive a consolidation trend for traders to regain the prevailing market momentum.

Amid the early July correction, Litecoin’s price dropped from $76.2 to $56.68, recording a 25.4% loss. This drop plunged the asset to the lower trendline — a dynamic support that has acted as a major accumulation point since December 2018.

Currently, the LTC coin is trading at $65.6 billion, while the market cap is $4.9 billion.

If the triangle pattern is true, the Litecoin Price is poised for a major reversal, targeting the upper trendline around $90.

Dog Hat (WIF)

Dog hat (WIF) is a meme coin operating on the Solana blockchain, inspired by the viral meme of a dog wearing a hat. The project leverages the power of community engagement and social media buzz to drive its growth and adoption.

Dogwifthat (WIF) | Tradingiew

Amid the recent market sell-off, WIF price has shown remarkable resilience above $1.47. In three weeks, the meme coin has bounced off this horizontal support twice, revealing the formation of a double bottom pattern.

This chart setup is often seen as a bottoming formation for an asset and provides buyers with a breakout opportunity. The WIF price is currently trading at $1.7, while the market cap remains at $1.701 billion.

Under the influence of this pattern, the WIF price is poised for a 40% surge before a major breakout of the $2.37 neckline. A potential breakout of this resistance will signal an early sign of a trend reversal.

Notcoin (NO)

Notcoin (NOT) is a community-driven cryptocurrency designed to integrate users into the Web3 ecosystem through an engaging tap-to-earn game.

Notcoin (NO) | Tradingview

Defying market uncertainty, NOT price shows a sharp reversal from the $0.0091 support. The bullish turnaround lifted the asset by 79% to trade at $0.0163, the total market cap jumped the asset to $1.67 billion.

Amid this rise, the altcoin made a decisive breakout from the bull flag patternsignaling the end of correction trendline. In theory, the flag setup drives a temporary counter-trend move for market participants to restore the prevailing bullish momentum.

If the breakout holds, Notecoin price could surge another 80% to challenge the $0.029 high again.

Main conclusion

The potential for a prolonged correction continues to worry market performance as Bitcoin witnessed significant selling pressure from the German government. With BTC hovering above the $55,000 support, a potential breakdown could accelerate the selling pressure. However, the pullback offers a discount value for sideways buyers of market reversals.

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Frequently Asked Questions (FAQs)

Mid-cap cryptocurrencies are cryptocurrencies with a market capitalization between $1 billion and $10 billion.

Fear, Uncertainty, and Doubt (FUD) is a term used to describe negative sentiment or widespread misinformation about a specific cryptocurrency or the market in general.

Market capitalization, or market cap, is the total value of all coins in circulation for a specific cryptocurrency.

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