Cryptocurrency enthusiasts are keenly observing the altcoin market, which has yet to enter a much-anticipated upward movement. Past instances have shown that even brief rallies can create a false sense of sustained growth, leading many to overlook potential declines. Present market sentiments, however, lean towards caution, suggesting that the desired bullish phase has not yet been achieved. Optimists believe, though, that a peak may be closer than it appears.
What’s Delaying the Market Recovery?
Traders are eagerly waiting for a resurgence in bullish trends that have been absent for an extended period. The altcoin market is currently experiencing one of its longest downturns, with only fleeting price increases. This persistence occurs despite favorable developments in the U.S. crypto landscape.
How Will Key Altcoins Perform?
The delay in market recovery can be attributed to tariffs exceeding expectations and strong comments from political figures. However, positive trade negotiations may soon alter this trajectory. For example, Shiba Coin is anticipated to rebound and potentially surpass the 0.0000152 dollar mark, aiming for a target of 0.0000241 dollars. Conversely, there is a possibility of the price dipping to 0.00001053 dollars, though this seems unlikely.
Turning to Solana (SOL), a surge in May could see it close above 158 dollars, indicating confidence in a greater rally towards 300 dollars. Should the price stabilize in the 202-205 dollar range, significant upward movements are plausible.
Can Chiliz (CHZ) Recover?
As the competitive landscape evolves, Chiliz (CHZ) remains in a challenging position, lacking the momentum of previous years. While it has potential within the fan token market, it hasn’t met current expectations. A sustained bullish environment might prompt significant announcements from Socios, allowing prices to revisit past highs, yet currently, CHZ is considered oversold.
Key Implications:
- Shiba Coin may reach up to 0.0000241 dollars or drop to 0.00001053 dollars.
- For Solana, a closing price above 158 dollars could signal a rally to 300 dollars.
- Chiliz needs strong market support to reclaim ground lost since 2021.
The outlook for altcoins remains uncertain yet hopeful. Traders are watching closely for significant developments that could ignite a market turnaround.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/will-altcoins-make-a-comeback-soon