Bitcoin Below $24000 Mark Threatens Altcoins For Further Correction

Crypto Price Today Feb 26th: Bitcoin, the largest cryptocurrency by market cap, witnessed a significant downfall this week. Thus, the BTC price plunged below the $24000 mark, causing a correction phase in the majority of major coins. However, amid the ongoing downfall, interested traders could grab the pullback opportunity and buy coins at a discounted price.

Stack(STX)

Source- Tradingview

Despite this week’s sell-off in the crypto market, the stack price turned sideways and managed to sustain above the rising support trendline. This trendline being part of an ascending channel pattern, could bolster a slow yet steady rally until just the structure is intact.

By the press time, STX price trades at $0.733 with an intraday loss of 3.8%. However, in theory, this pattern’s most likely outcome is a significant downfall once the pattern breaches the support trendline. Thus, the STX price possible breakdown from the support trend could trigger a significant downfall and discount the market value by 22.7%.

Ankr(ANKR)

Source- Tradingview

Amid the increasing bearishness in the crypto market, the Ankr price rally has recently turned down from the $0.0574 mark. The resulting downfall tumbled the prices by 27.4% and breached below the $0.43 support.

Today, the ANKR price trades at $0.041 with an intraday gain of 2.33%. If the coin price shows sustainability above $0.43 in the coming days. The correction phase will prolong by 12% and revisit the $0.37 mark.

Anyhow, The decreasing volume during this downfall indicated the ongoing correction must be temporary. 

Also Read: What Do You Need To Know About Top NFT Discord Servers?

BinaryX(BNX)

Source- Tradingview

The BinaryX coin has been walking a sideways trend over the past four days, the coin prices continue to wobble between the $1.785 and $1.27 mark, indicating the market sentiment is uncertain.

The area within the aforementioned level can be considered a no-trading for market participants. By the press time, the a trades at the $1.346 mark, and traders looking for an entry opportunity should wait for a price breakout from either side of the range to trigger a significant downfall.

A potential bullish breakout from the $1.785 resistance could push the prices to the following targets of $1.93, $2.12, or $2.3

Lido Dao(LDO)

Source- Tradingview

The Lido Dao coin shows the formation of a rising wedge pattern in the daily time frame chart. The coin price retested the pattern’s trendlines several times, indicating the traders are actively responding to this technical setup.

By press time, the LDO price trades at the $3.086 mark with an intraday gain of 5.19%. As the prices continue to trade within the pattern’s trendlines, the traders could expect a prolonged uptrend.

Anyhow, if the daily candle closes below the support trendline, the sellers could trigger a new correction phase.