Ondo

Cryptocurrency

Millions

Sherpa

Pyth Network

<p>Cryptocurrency analyst Altcoin Sherpa warned regarding the potential for heavy capitulation across the altcoin market if key support levels fail.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-avax-chart-signals-broad-market-troubles-strong"><strong>AVAX Chart Signals Broad Market Troubles</strong></h2>
<p>In a <a href="https://x.com/AltcoinSherpa/status/1761038008432648455?s=20" target="_blank" rel="noopener noreferrer nofollow">tweet post</a>, he highlighted Avalanche’s AVAX token as an important chart to monitor, cautioning that a decisive breakdown could spark a crisis of confidence rippling across cryptos broadly.</p>
<p>“It’s going to be important to see where the next overall low is printed for some of these altcoin charts,” he wrote. “Peep coins like $AVAX: If this was a recent lower high and we hit a lower low (see $26 get taken out), I think it could be scary overall.”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="543" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-1024x543.png" alt="" class="wp-image-442958" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-1024x543.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-300x159.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-768x407.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-1536x814.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-2048x1086.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-283x150.png 283w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-660x350.png 660w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885-788x417.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-885.png 1424w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>After hitting ATHs above $140 last November during the heights of the Avalanche network’s growth, AVAX has retraced over 80%. It briefly bounced off the $26 level earlier this month before revisiting that zone this week. According to Altcoin Sherpa, if AVAX drops decisively below $26, it could spark capitulation across the wider crypto market.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-could-decouple-from-floundering-alts-strong"><strong>Bitcoin Could Decouple From Floundering Alts</strong></h2>
<p>However, he explained that Bitcoin could trend higher or chop sideways even with altcoins plunging, a pattern that has played out severally. “You CAN see altcoins go down in USD value even when $BTC is going higher,” he reminded followers, linking to a chart showcasing this effect.</p>
<p>Nonetheless, Altcoin Sherpa believes certain emerging ecosystems like leading <a class="wpil_keyword_link" href="https://captainaltcoin.com/best-ai-crypto-projects/" title="AI" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">AI</a> and Web3 projects may continue posting positive returns regardless of conditions. He cited interoperability upstart Ondo Finance as one such outlier primed to outperform.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Altcoin Sherpa fears the market could be severely impacted if critical support levels collapse. However, he holds a pragmatic long-term bullish outlook on the prospects of cryptocurrencies. Still, he warns that traders concentrated on altcoins apart from Bitcoin may face substantial volatility in the months ahead.</p>
<p>With altcoins hovering at critical technical zones, traders may want to position defensively while keeping a keen interest in market trends. As Altcoin Sherpa noted, profitable opportunities will likely persist for savvy investors willing to take a contrarian stance if fear takes hold.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/ripple-analyst-predicts-5-85-xrp-as-next-target-in-ongoing-bull-run-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">Ripple Analyst Predicts $5.85 XRP as Next Target in Ongoing Bull Run – But There’s a Catch</a></li>
 <li><a href="https://captainaltcoin.com/defi-whale-activity-fuels-spell-tokens-price-explosion-expert-points-to-more-upside-here-is-his-outlook/" target="_blank" rel="noopener noreferrer nofollow">DeFi Whale Activity Fuels Spell Token’s Price Explosion: Expert Points To More Upside – Here is His Outlook</a></li>
 <li><a href="https://captainaltcoin.com/deestream-dsts-potential-could-take-on-pyth-network-pyth-and-cardano-ada-in-battle-for-chart-supremacy/" target="_blank" rel="noopener noreferrer nofollow">DeeStream (DST)’s Potential Could Take on Pyth Network (PYTH) and Cardano (ADA) in Battle for Chart Supremacy</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/as-bitcoin-btc-charges-on-this-avax-metric-may-signal-price-dips-for-altcoins-but-theres-a-catch/" rel="noopener noreferrer nofollow">As Bitcoin (BTC) Charges On, This AVAX Metric May Signal Price Dips for Altcoins – But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

As Bitcoin (BTC) Charges On, This AVAX Metric May Signal Price Dips for Altcoins – But There’s a Catch

目錄

CaptainAltcoin

在 2024年2月23日發表的其他文章

Revolutionizing Smart Contract Development with Accessibility and Security

Educators Pioneer Ethical Co-Creation with AI in Arts Education

New ATH For WIF? Analyst Thinks Dogwifhat Will Go “Turbo Parabolic” Soon

Bitwise, Grayscale Seek SEC Nod for Bitcoin ETF Options

Expanding Web3 Presence: Pudgy Penguins Partners with Unstoppable Domains for Unique .pudgy Domain

Reddit's IPO and Cryptocurrency Ventures Shake Markets

訂閱免費電子報，每天收取加密貨幣最新動態！