3 Under $5 Cryptocurrencies To Sell Before Bitcoin Crashes Below $60,000

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As an experienced analyst, I’ve seen my fair share of market volatility and turbulence, especially in the crypto space. The current bearish trend has left many investors grappling with losses, and it’s essential to make informed decisions about rebalancing portfolios. While no investment decision is ever easy, selling certain cryptocurrencies could help mitigate further losses.

As a researcher studying the crypto market, I’ve noticed that investors have been battling to stay afloat amidst a week-long onslaught from the bears. The looming threat of Bitcoin dipping down to $60,000 this week adds to their woes, and with altcoins like Ethereum slumping below $3,500, losses continue to pile up. If the pessimistic vibes in the market don’t improve, investors might want to consider offloading some of their cryptocurrencies to minimize further damage.

As a researcher studying crypto investments, I can tell you that rebalancing your portfolio isn’t a simple process, especially during volatile market conditions. For many investors, it may involve taking losses on certain assets to maintain the desired allocation. However, making these tough decisions now could help secure future profits and ensure long-term success in your investment strategy.

Before the price of Bitcoin falls below $60,000, investors may want to consider selling the following cryptocurrencies as a potential strategy. However, it’s crucial that they conduct thorough research before making any major portfolio decisions.

1. Pepe Coin

I’ve analyzed the market trends and noticed that Pepe, the frog-themed meme coin, has experienced a significant increase during the US trading session. The price has climbed up by 8.5% to reach $0.00001141. This growth is reflected in its market capitalization as well, which has surged impressively by 8.5%, reaching a value of $4.8 billion. With this development, Pepe now occupies the #23 position among all cryptocurrencies on CoinMarketCap. Furthermore, its trading volume exceeds $1 billion, making it the 11th most actively traded digital asset in the past 24 hours.

3 Under $5 Cryptocurrencies To Sell Before Bitcoin Crashes Below $60,000

In the second quarter of the year, Pepe is one of the coins that has managed to maintain strong rallies and reach a new peak price – a fresh all-time high. This meme coin has gained popularity among large investors, or “whales,” who have been purchasing it in significant quantities, resulting in a continuous upward trend.

Although Pepe experienced significant gains this week, its price has deviated from its all-time high (ATH) of $0.00001722 reached in May, now sitting at $0.00001135. The support level at $0.00001 remains strong, while traders keep a close watch for the potential breakout of a falling wedge pattern.

If PEPE manages to escape from its wedge pattern, it may attract additional buyers, leading to a faster price increase above the two significant barriers – the resistance at $0.000014 and the historic peak of $0.00001722. Considering this scenario, it might be wise to reconsider holding PEPE if its downward trend persists throughout this week. A potential loss of support at $0.00001 could negatively impact crypto investors’ portfolios.

2. Dogecoin (DOGE)

As a researcher studying the cryptocurrency market, I’ve observed that Dogecoin, the most popular meme coin, has recently plunged to its lowest levels in several months. This significant decline may represent a crucial turning point, potentially leading to a robust rebound or an extended period of correction.

For the past three months, the DOGE price has exhibited a gradual corrective trend, which can be observed between two descending trendlines. These trendlines function as significant dynamic resistance and support levels, contributing to the formation of a bullish continuation pattern in the form of a flag for this memecoin.

The DOGE price took a dive under the influence of this pattern, plummeting from $0.228 to a 15-week low of $0.113, resulting in a substantial loss of approximately 50.4%. Fortunately, the price seems to be finding some footing around $0.12 and is being supported by other key technical indicators such as the 50-week moving average, 61.8% Fibonacci level, and the trendline of the flag.

3 Under $5 Cryptocurrencies To Sell Before Bitcoin Crashes Below $60,000

If Dogecoin fails to surpass the $0.13 resistance and climb above $0.15, this could be a sign of uncertainty for its future direction. The potential weakness at the support level of $0.12 might lead to further losses as prices slide below $0.1. It may be prudent for investors to reconsider their holdings in Dogecoin if there is no improvement on the upside within the next few weeks.

3. Lido DAO (LDO)

Based on CoinMarketCap’s figures, Lido DAO’s token, LDO, saw a substantial increase in trading volume, jumping by over 31% to hit around $309 million. Additionally, the token’s market capitalization rose by roughly 15.83%, amounting to approximately $2.12 billion. This upward trend propelled LDO to rank 43rd among cryptocurrencies in terms of market capitalization.

LDO’s price has been fluctuating between $1.82 and $2.39 lately, signaling brisk trading. Over the last month, there has been a notable surge of around 36% in LDO‘s overall value, suggesting a bullish market movement.

3 Under $5 Cryptocurrencies To Sell Before Bitcoin Crashes Below $60,000

Lido DAO is currently undergoing a significant surge that could be indicative of an impending bull market. If this upward momentum continues, it’s likely that the resistance at $3 will be broken. A prolonged rise could potentially propel its value towards the $4 threshold, with ambitions to reach and even surpass $5 during the next bullish phase.

Alternatively, a change in market conditions might strengthen Lido DAO’s support at $2.36. If the trend worsens, Lido’s price could drop to $2, suggesting a move towards a more bearish market. In this scenario, investors may consider adding LDO to their sell list for June, anticipating the next significant price surge.

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2024-06-19 21:32