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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Jul 06, 2024 09:10 UTC
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Top Cryptos To Buy Now As Crypto Market See Reversal
Relighting the hopes of a bull market, the overnight reversal in Bitcoin projects a potential recovery in the altcoins. With the BTC price back to $56,500 and Ethereum above $3,000, the altcoins market is quick to bounce back.
With the meme coins and other altcoins quick to bounce back from the market crash, the bull run in the recovering tokens is expected to surge. Hence, as the market gains are expected to return to bullish levels, here are the top cryptos to buy now as the crypto market expects a reversal.
Dogwifhat (WIF) Crypto Eyes $3
With a 25% jump in 24 hours, the meme coin WIF price trend is quick to recover from the market crash. The crypto resurfaces above the 61.80% Fibonacci level and is ready to reclaim the $2 psychological 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. As the neckline coincides with the 5% Fibonacci level, the breakout of this level will result in a massive quick jump.
With lower price rejection and the bullish turnaround, the WIF crypto price teases a bullish jump to the $3 mark.
Shiba Inu (SHIB)
Following the market crash, the SHIB price trend tests the declining support trendline of the falling channel pattern. However, with a bounce back from the crucial trendline, the meme coin is ready for an upcycle within the pattern.
SHIB trades at $0.000015 with an 18% jump in the last 24 hours, bolstering the morning star formation. With a significant trend reversal pattern at a crucial area of support, the SHIB crypto price is expected to surge.
As per the daily chart, the SHIB price can reach the $0.000020 mark next week.
BONK (BONK)
Surviving the market crash, the BONK price sustains above the backbone support trendline of the larger-term uptrend. With a double bottom formation and lower price rejections, the meme coin price is likely to bounce back next week.
Further, the crypto takes support at 78.60% Fibonacci level and trades at the $0.000021988 mark. Considering the broader market recovers, the meme coin could reach the $0.00003217 mark next week.
Also Read: Crypto News Today: Bitcoin and Altcoins Reversal, Is Market Bottom In?
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