Markets
Top Cryptocurrencies to Buy Now as Crypto Market Sees Reversal
Rekindling hopes of a bull market, Bitcoin’s overnight reversal projects a potential recovery in altcoins. With BTC price back at $56,500 and Ethereum above $3,000, the altcoin market is recovering rapidly.
With meme coins and other altcoins quickly recovering from the market crash, the bull run in the recovering tokens is set to pick up. Therefore, as the market gains are set to return to bullish levels, here are the top cryptos to buy now as the crypto market anticipates a reversal.
Dogwifhat (WIF) Cryptocurrency Targets $3
With a 25% jump in 24 hours, the price trend of the meme coin WIF is quickly recovering from the market crash. The crypto is resurfacing above the 61.80% Fibonacci level and is poised to reclaim the psychological $2 mark.
Trading at $1.98 with an intraday gain of 3.54%, the meme coin forms a double bottom pattern with a neckline at $2.43. Since the neckline coincides with the 5% Fibonacci level, a breakout of this level will result in a massive bounce.
With the minor price rejection and the bullish turnaround, the WIF cryptocurrency price suggests a bullish bounce towards the $3 mark.
Shiba Inu (SHIB)
After the market crash, SHIB price action tests the falling support trendline of the falling channel pattern. However, with a bounce back from the crucial trendline, the meme coin is poised for a bullish cycle within the pattern.
SHIB is trading at $0.000015 with an 18% jump in the last 24 hours, reinforcing the morning star formation. With a significant trend reversal pattern at a crucial support area, the price of SHIB cryptocurrency is expected to rise.
According to the daily chart, the price of SHIB may reach the $0.000020 mark in the coming week.
BONK (BONK)
Surviving the market crash, BONK price is holding above the backbone support trendline of the long-term uptrend. With a double bottom formation and minor price rejections, the meme coin’s price is likely to recover in the coming week.
Furthermore, the crypto has support at the 78.60% Fibonacci level and is trading at the $0.000021988 mark. Considering the broader market recovers, the meme coin could reach the $0.00003217 mark in the coming week.