Cardano

2024

Filecoin

Polkadot

Axie Infinity

<p>The post <a href="https://coinpedia.org/news/top-analysts-says-4-altcoins-you-should-avoid-at-all-costs/" rel="noopener noreferrer nofollow">Top Analysts Says 4 Altcoins You Should Avoid at All Costs!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As the altcoin market value surpasses $276 Billion, driven by Bitcoin’s surge above $66,000, investors are eyeing altcoins for potential gains. Renowned crypto analyst CryptoBulle warns against blindly investing in all altcoins amidst this bullish trend. Despite the bullish trend, the market remains susceptible to corrections.</p>
<h2 class="wp-block-heading" id="altcoins-unlikely-to-break-ath">Altcoins Unlikely to Break ATH</h2>
<p>CryptoBulle suggests that altcoins still between the 0.382 and 0.236 Fibonacci levels are unlikely to break their 2021 all-time highs.</p>
<p>“Draw the Fibs from top to bottom. The ones still between 0.382-0.236 likely won’t make it above their 2021 highs,” CryptoBulle tweeted, highlighting weak coins in this category.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Which <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoin</a> will break the ATH and which one will not <br><br>Draw the Fibs form Top to Bottom. The ones that have already tested the 0.618 Fib (or even 0.786) level will definitely make a new ATH (strong coins). <br>Examples: <a href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$NEAR</a> <a href="https://twitter.com/search?q=%24AR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AR</a> <a href="https://twitter.com/search?q=%24METIS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$METIS</a> <a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AVAX</a> <br><br>The ones that are still between… <a href="https://t.co/VeMIkI8NvF" rel="noopener noreferrer nofollow">pic.twitter.com/VeMIkI8NvF</a></p>— CryptoBullet (@CryptoBullet1) <a href="https://twitter.com/CryptoBullet1/status/1791167515206222305?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Polkadot ($DOT):</strong> Despite its robust ecosystem and innovative technology, Polkadot’s current Fibonacci levels suggest it may struggle to reach its previous ATH.</p>
<p><strong>Filecoin (FIL):</strong> While offering a decentralized storage solution, <a href="https://coinpedia.org/price-prediction/filecoin-fil-price-prediction/" rel="noopener noreferrer nofollow">Filecoin’s market shows significant</a> volatility on a daily chart. Unfortunately, Filecoin has emerged as one of the biggest losers in the market, having dropped 30% in the past week.</p>
<p><strong>Axie Infinity (AXS):</strong> Known for its play-to-earn model, Axie Infinity has experienced substantial growth. However, its current position suggests potential challenges in reaching new highs. As of now, AXS is trading at $7.3 with a market cap of $1 billion.</p>
<p><strong>Cardano (ADA):</strong> Cardano a popular Proof-of-Stake blockchain, has recently been facing a bearish trend. As of early May 2024, ADA’s price hovered around $0.48, <a href="https://coinpedia.org/price-analysis/cardano-price-records-bearish-signals-ada-price-to-retest-0-41/" rel="noopener noreferrer nofollow">reflecting a 25% decline</a> over the past five months. Analysts suggest that ADA might either break down further or continue moving sideways.</p>
<h2 class="wp-block-heading" id="caution-for-investors">Caution for Investors</h2>
<p>These altcoins are at risk of further price drops and may not offer a profitable entry point for investors at this time. CryptoBulle’s analysis underscores the importance of strategic investment decisions based on technical indicators like Fibonacci retracement levels.</p>
<p>On the flip side, CryptoBulle even has <a href="https://coinpedia.org/news/top-analysts-predict-these-4-altcoins-will-shatter-all-time-highs-in-2024/" rel="noopener noreferrer nofollow">identified four top altcoins</a> that should be included in your investment portfolio. These altcoins have the potential to break their all-time highs in the upcoming altcoin season.</p>

Top Analysts Says 4 Altcoins You Should Avoid at All Costs!

Table of Contents

CoinPedia News

Other articles published on May 17, 2024

Microsoft Build 2024: Date, Key Highlights, and What To Expect

100X Profit Alert: These Cryptos Are on a Crypto Whale’s Watchlist

Ready for the Next Rally? Here Are 3 Memecoins To Shortlist This Month

Here’s How This Solana Trader Made $200K with $1.5K In 5 Mins

Kraken considers dropping USDT in Europe ahead of new regulations

Hong Kong Embraces Digital Yuan: What Does This Mean for Global Currency Dynamics?

Join our free newsletter for daily crypto updates!