Markets
3 Cryptocurrencies Under $5 to Sell Before Bitcoin Falls Below $60,000
Investors in the crypto market are trying to keep their heads above water after suffering at the hands of the bears for an entire week. With Bitcoin Price Looking ahead to a potential drop to $60,000 this week, more pain could still lie ahead. Altcoins are also losing steam, due to Ethereum falling below $3,500. If negative market sentiment does not subside, investors will want to consider cryptocurrencies sell to avoid further losses.
Rebalancing crypto portfolios is not an easy task. For many, and especially in current market conditions, this means making losses. However, difficult decisions must be made to preserve future profits.
Therefore, before Bitcoin drops to $60,000, investors might consider selling the cryptocurrencies listed below. It is also essential that investors use this as a guide and conduct thorough research before making any key actions regarding their portfolio.
1. Pepe piece
Pepe is up slightly by 8.5% to $0.00001141 during the US trading session. The frog-themed meme coin is seeing an impressive 8.5% increase in market cap to $4.8 billion, ranking 23rd among other cryptocurrencies on the market. CoinMarketCap. Its trading volume exceeds $1 billion, making it the 11th most traded digital asset in 24 hours.
Pepe Coin Price Chart | Commercial view
Pepe is one of the few plays that sustained rallies in the second quarter of the year to the point of reaching a new record milestone. The meme coin has gradually become a favorite of whales, who buy in large numbers, creating bullish momentum.
Despite this week’s impressive rally, Pepe has moved away from its ATH of $0.00001722 traded in May to $0.00001135. Support at $0.00001 remains firm with traders eyeing a falling wedge breakout.
A breakout of the wedge pattern could prompt more traders to buy PEPE, accelerating the recovery above two key levels: resistance at $0.000014 and the all-time high $0.00001722. It might be prudent to let go of Pepe if the slump continues this week. Losing support at $0.00001 could be detrimental to crypto wallets.
2. Dogecoin (DOGE)
Dogecointhe largest meme coin, fell to multi-month support levels, signaling a pivotal moment for a notable recovery or extended correction.
THE DOGE Price has seen a slow but steady correction trend resonate in two descending trendlines over the past three months. The trendlines act as major dynamic resistance and support for this memecoin developing a bullish continuation pattern called a flag.
Under the influence of this trend, DOGE price fell from $0.228 to 15, its 15-week low of $0.113, registering a loss of 50.4%. However, the price is now stabilizing around $0.12, accompanied by other technical levels such as the 50-week EMA, 61.8% FIB, and the flag support trendline.
Dogecoin Price Chart
Dogecoin’s inability to break above the $0.13 resistance and continue above $0.15 could signify a lack of direction. Pressure on support at $0.12 could lead to more losses, with declines below $0.1 likely. Investors should consider whether Dogecoin is one of the cryptocurrencies to remove from their portfolio in case no upward progress is seen in the coming weeks.
3. Lido DAO (LDO)
According to data from CoinMarketCap, Lido DAO’s token saw significant trading volume, which soared over 31% to approximately $309 million. The market capitalization also increased sharply by around 15.83%, standing at around $2.12 billion. This push placed YES at 43rd position in the market capitalization ranking.
LDO continues to trade in a range between $1.82 and $2.39, reflecting increased trading activity. Over the past 30 days, LDO has seen an overall increase of around 36%, indicating an uptrend.
Lido DAO Price Chart | Commercial view
Lido DAO is experiencing a notable uptrend that could signal the start of a bullish period. If this positive trend persists, it will soon break the $3 resistance barrier. A continued rise could push its value towards the $4 mark, with aspirations of reaching $5 during the next bull cycle.
On the other hand, a change in market dynamics could consolidate the Lido DAO’s position at a support level of $2.36. If the decline continues, the LDO price could drop to $2, indicating a move towards a bear market environment. If this downturn deepens, investors could add LDO to cryptocurrencies for sale in June, while looking forward to the next major breakthrough.
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