3 Mid-Cap Cryptos to Buy if Market Correction Bottoms

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As a seasoned crypto investor with a keen eye for market trends and technical analysis, I believe that the current market correction presents an opportunity to buy into three promising cryptos: Litecoin (LTC), Dogwifhat (WIF), and Notcoin (NOT).

Based on recent developments in the crypto market, it may be worth considering the following coins for potential investment:

As a crypto investor, I’m keeping a close eye on the unstable price action of Bitcoin. The ongoing selling pressure from the German government could potentially lead to further declines in the market value of my Bitcoins.

Based on recent findings from crypto analysis company Santiment, the sentiment towards Bitcoin among traders on social media outlets such as X, Reddit, Telegram, 4Chan, and BitcoinTalk has hit the most pessimistic marks in the last twelve months. The firm points out that this intense bearish sentiment, often referred to as Fear, Uncertainty, and Doubt (FUD), could potentially signal an upcoming reversal.

As a crypto investor, I’ve noticed an increase in bearish sentiment towards Bitcoin among traders on various platforms like X, Reddit, Telegram, 4Chan, and BitcoinTalk this week. The level of fear, uncertainty, and doubt (FUD) is at its highest point in the past year. However, history has shown us that when the crowd becomes excessively bearish, it often sets the stage for a surprising rebound. Therefore, keeping a close eye on the market and being prepared to take advantage of potential price swings could be a wise move.
— Santiment (@santimentfeed) July 9, 2024

As a researcher studying market trends with tools like Santiment, I’ve observed an intriguing pattern. When the collective sentiment among traders reaches extreme fear (FUD), the probability of a sudden price reversal becomes quite high. This unexpected bounce can easily take many investors by surprise.

As a market analyst, I would identify Chainlink, WIF, and Notcoin as promising mid-cap cryptos to consider for investment if the market correction reaches its bottom in July. These digital assets could potentially signal the beginning of an uptrend.

Cryptos to Buy- Litecoin (LTC)

Litecoin (LTC) is a peer-to-peer cryptocurrency that was created to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology. 

3 Mid-Cap Cryptos to Buy if Market Correction Bottoms

For the last five sessions, the LTC price has moved within a narrow range, sandwiched between two trendlines that are converging to form a triangle pattern on the chart. This triangle pattern typically signals a pause or consolidation in the market trend, providing an opportunity for traders to regain their momentum before the next significant price move.

During the early-July market correction, Litecoin’s price fell from $76.2 to $56.68, resulting in a loss of approximately 25.4%. This decline brought the digital asset down to the lower trendline—a moving support that has served as significant points for accumulation since late 2018.

Currently, the LTC coin trades at $65.6 Billion, while the market cap holds at $4.9 Billion.

Should the triangle formation remain valid, Litecoin’s price may be on the verge of undergoing a significant price shift, potentially reaching a peak near $90 based on the upper trendline.

Dogwifhat (WIF)

The Dogwifhat (WIF) meme coin functions on the Solana blockchain, derived from the popular internet meme depicting a dog donning a hat. This project harnesses the strength of community interaction and social media excitement to fuel its development and acceptance.

3 Mid-Cap Cryptos to Buy if Market Correction Bottoms

In the midst of the latest market downturn, I noticed that the WIF price displayed remarkable strength, holding above the $1.47 mark. Over a three-week span, this meme coin bounced back on two occasions from this horizontal support level, indicating the emergence of a double bottom pattern in its chart.

In simpler terms, this chart configuration is commonly considered a potential base for an asset, offering investors a chance to enter the market during a breakout. At present, the WIF price is valued at $1.7, and its market capitalization stands at $1.701 billion.

As an analyst, I believe that under the current market conditions, the WIF price has strong potential to surge by approximately 40% prior to a significant breakthrough above its resistance level at $2.37. This anticipated breach of resistance could serve as an early indicator for the beginning of a reversal trend in the market.

Notcoin (NOT)

” NOT (Notcoin) is a cryptocurrency initiated by the community, aiming to attract newcomers to the Web3 world via an enjoyable and rewarding tapping game.”

3 Mid-Cap Cryptos to Buy if Market Correction Bottoms

Amidst the market turmoil, I’ve noticed an intriguing development with NOT – the price has made a surprising turnaround from its support at $0.0091. This bullish shift propelled the asset up by an impressive 79%, reaching a new trading price of $0.0163. With this uplift, NOT’s market capitalization has significantly risen to a noteworthy $1.67 Billion.

As an analyst, I’ve noticed an uptick in the market where altcoins have shown a significant breakout from the bull flag pattern. This development suggests the conclusion of the correction trendline. In essence, the bull flag formation is a temporary price movement that entices investors to re-establish their bullish positions and boost the overall market momentum.

If the breakout sustains, the Notecoin price could rise another 80% to rechallenge the $0.029 high.

Key Takeaway

As an analyst, I’m keeping a close eye on the Bitcoin market as prolonged correction remains a significant concern. The German government’s selling pressure has caused a notable drop in price around the $55,000 support level. If this level gives way, it could intensify the selling pressure and potentially lead to further losses. However, the current pullback presents an opportunity for investors looking to buy at a discount and capitalize on any potential market reversal.

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2024-07-10 00:04