Chiliz

Solana

Pepe

Bitcoin

Million

Top Altcoins: The cryptocurrency market has experienced a <a href="https://coingape.com/crypto-prices-today-bitcoin-plunges-to-41k-as-sell-the-news-rout-deepens-ether-pepe-extend-decline/" rel="noopener noreferrer nofollow">downward correction</a> for more than a week, primarily triggered by a lack of momentum in Bitcoin price despite the much-anticipated launch of a Bitcoin ETF. This downward trend was exacerbated as Grayscale began to unload its Bitcoin assets in reaction to its investors selling off shares of the GBTC ETF.
Nevertheless, the market has seen some stability over the weekend, with Bitcoin striving to maintain its position above the critical $40,000 mark. Amid this period of relative calm, a renowned crypto analyst, <a rel="noopener noreferrer nofollow" href="https://x.com/thescalpingpro/status/1748337271634325694?s=20">@thescalingpro</a>, brought attention to an important development in the altcoin sector
<blockquote>
 The Altcoin Markecap is out of the Wyckoff’s bear market Accumulation phase.
 According to this pattern, the current consolidation should be the final sideways choppy price action before Alts go parabolic
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-175708" src="https://coingape.com/wp-content/uploads/2024/01/GENWganaMAExYhl.jpeg" alt="Altcoin marketcap" width="1128" height="818" srcset="https://coingape.com/wp-content/uploads/2024/01/GENWganaMAExYhl.jpeg 1128w, https://coingape.com/wp-content/uploads/2024/01/GENWganaMAExYhl-300x218.jpeg 300w, https://coingape.com/wp-content/uploads/2024/01/GENWganaMAExYhl-768x557.jpeg 768w, https://coingape.com/wp-content/uploads/2024/01/GENWganaMAExYhl-150x109.jpeg 150w" sizes="(max-width: 1128px) 100vw, 1128px">
If the theory is corrected, altcoins like Solana (SOL), Graph (GRT), and Chiliz (CHZ) can offer a lucrative opportunity for bullish traders to acquire their favorite coins at a discount.
Here are the <a href="https://coingape.com/best-crypto-to-buy/" rel="noopener noreferrer nofollow">best crypto to buy</a> today-
<h2 id="b-chart-pattern-hints-bottom-formation-for-solana-sol-price-b">Chart Pattern Hints Bottom Formation for Solana (SOL) Price</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/u/uNJS91ox.png" alt="Solana (SOL) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Solana (SOL) Price| TradingView Chart
 </figcaption>
</figure>
<a href="https://coingape.com/markets/solana-price-prediction-will-market-correction-push-sol-below-60/" rel="noopener noreferrer nofollow">Solana</a>, currently the fifth-largest cryptocurrency, has recently faced a downturn in the volatile crypto market, seeing a 22% decrease from a high of $126.36 to $98.95 over three weeks. This decline, however, appears to be part of a larger bullish reversal pattern known as ‘cup and handle’ on the daily chart, a formation often seen as a bottoming signal indicating investor accumulation at lower prices.
Currently trading at around $92, the <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">Solana price</a> is attempting to hold above the crucial $85 level. If the pattern persists, the price is expected to rebound from this support, potentially increasing by 36% to approach the $125 neckline resistance.&nbsp;
A successful breach of this resistance could signal a major trend reversal, potentially spurring buyers to target a significant 103% increase to around $255.&nbsp;
<h2 id="strong-graph-grt-price-at-a-make-or-break-scenario-strong">Graph (GRT) Price At a Make-or-Break Scenario</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/d/DVYe27uv.png" alt="Graph (GRT) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Graph (GRT) Price| TradingView Chart
 </figcaption>
</figure>
Amidst the ongoing market correction, Graph coin (GRT) is showing signs of a bearish reversal pattern known as a <a href="https://coingape.com/education/head-and-shoulder-pattern-how-to-identify-it-on-a-crypto-chart/" rel="noopener noreferrer nofollow">head and shoulders</a>. This pattern, typically emerging at market peaks, has led to a significant decline in the GRT price, falling from $0.225 to $0.16 over the past three weeks, marking a 28.8% loss.
However, over the recent weekend, as the market sell-off eased, GRT experienced a modest rebound, gaining 4.7% from the neckline support of this pattern. If GRT fails to sustain this bullish momentum and consolidate its position at this new support level, there’s a risk that sellers might initiate a breakdown, further solidifying their control over the asset.
In such a scenario, the <a href="https://coingape.com/price/the-graph/" rel="noopener noreferrer nofollow">Graph price</a> could breach the 50% Fibonacci retracement level, potentially leading to an extended decline towards $0.076. Conversely, if the bullish reversal from the neckline support successfully overcomes the downward-sloping trendline (marked in black), it could provide the necessary momentum for buyers to initiate a rally, possibly revisiting the $0.225 high
<h2 id="b-renewed-recovery-in-chiliz-chz-price-set-a-beyond-0-13-b">Renewed Recovery in Chiliz (CHZ) Price Set a Beyond $0.13</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/2/2bpwxIyN.png" alt="Chiliz (CHZ) Price " width="1946" height="937">
 <figcaption class="wp-caption-text">
 Chiliz (CHZ) Price| TradingView Chart
 </figcaption>
</figure>
In a previous analysis by Coingape, it was noted that the <a href="https://coingape.com/price/chiliz/" rel="noopener noreferrer nofollow">Chilliz (CHZ) price</a> successfully broke out from the neckline resistance of a ‘cup and handle’ pattern. Although a mid-week sell-off in the broader cryptocurrency market initially caused the price to fall below this resistance level, CHZ has since reclaimed its position, signaling strong buyer conviction.
Currently, <a href="https://coingape.com/markets/chiliz-price-prediction-as-buyers-pursue-0-13-target/" rel="noopener noreferrer nofollow">CHZ</a> has seen an impressive intraday increase of 16%, forming a long bullish engulfing candle on the daily chart. Trading at $0.104, if Chiliz can maintain this upward trajectory and hold above the neckline resistance, it sets the stage for potential further growth.&nbsp;
The buyers might aim for the $0.135 mark, which would represent a 30% increase from its current value.
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The post <a href="https://coingape.com/markets/top-altcoins-to-buy-january-21-sol-grt-chz/" rel="noopener noreferrer nofollow">Top Altcoins to Buy January 21: SOL, GRT, CHZ</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Top Altcoins to Buy January 21: SOL, GRT, CHZ

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