Helium

Render

Arbitrum

Date: Sun, August 04, 2024, 03: AM GMTIn the past week, the cryptocurrency market took a heavy hit with a bearish trend, causing sharp declines in the prices of major cryptocurrencies. Bitcoin (BTC) and Ethereum (ETH) both dropped by over 10%, which in turn triggered significant price dumps in altcoins like Render, Helium, and Arbitrum, each experiencing declines of over 15%.However, today these three altcoins have shown a promising recovery against the bearish market.<ul><li>Render (RNDR): Up by 2.35%</li><li>Helium (HNT): Up by 4.39%</li><li>Arbitrum (ARB): Up by 0.93%</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/28db773702e84833b3461302827e6466.png" />Source: Coinmarketcap<h3 id="will-the-recovery-sustain">Will the Recovery Sustain?</h3>On July 29, Bitcoin had the opportunity to break out from a Bull Flag—a bullish continuation pattern that typically signals further price increases. Despite the optimism, Bitcoin couldn&#39;t break through the crucial resistance level of $71K and instead pulled back to $60,700, missing an upward surge toward $80K. This inability to break through created uncertainty in the market, affecting altcoin prices.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f77a98163af64dc28075f12c24aa98f9.png" />Source: TradingViewFocusing on the Bitcoin (BTC) chart, there&#39;s minor support at $60K, a crucial level. Bitcoin has shown a minor pullback, with the price jumping from a low of $59,839 to the current $60,700. If BTC can bounce back from this support, we might see a recovery. However, if it fails to hold this level, the price could drop to around $53,643, likely causing altcoins to dip further.It will be worth watching market activity closely to see how it unfolds from here. Keep an eye on <a href="https://coinsprobe.com/news/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin </a>levels—if it falls below $59K, we could see another drop in crypto prices.Disclaimer: This article reflects the author&#39;s personal views and interpretations of the current market situation. It is not intended as financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.

Top Altcoins Including Render, Helium, and Arbitrum Make Recovery: Will It Sustain?

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