Watch Out For Those 5 Altcoins Diving To The Bottoms: These Are Expected Next Week!

In the middle of September 16-23, 2022, some altcoin projects experienced a deep decline. In this article, we will talk about the cryptocurrencies that fell the most in this process and the expectations of analyst Valdrin Tahiri for them. Here are the details…

RVN price could drop to next boost level

The first altcoin on the list is Ravencoin (RVN), which has dropped close to 25 percent on a weekly basis. The RVN has been falling ever since it was rejected by the resistance line of the long-term descending parallel channel on Sept. 14. On the downside, it hit $0.036, the lowest ever recorded on Sept. 21. The low stayed within the horizontal support area of ​​$0.04. Additionally, the daily RSI has dropped slightly below 50. If RVN fails to hold above this area, it could drop to the next reinforcement at real $0.027.

ETC price: Exit soon?

The second altcoin on the list is Ethereum Classic (ETC), down 17.12 percent weekly. ETC has been falling inside a descending parallel channel since reaching $45.36 since July 19. Currently, ETC is trading very close to the channel’s reinforcement line. According to the analyst, the price bounced twice on the channel’s mains line on September 19 and 21, resulting in a possible double bottom pattern.

The pattern is coupled with the bullish divergence on the RSI. It is settled in the area where the mid $27-28 support levels come to a middle. The support is formed at the 0.5 Fib retracement level and a horizontal support area. Therefore, a jump at this level and a retracement of the level in the middle of the channel seems likely. “If this happens, it indicates that a final breakout is likely,” Tahirin says.

Altcoin TON price direction uncertain

The TON, which is down 15 percent on the week, has been moving in the upper truth since it dropped to $0.74 on June 18. The increase reached $2.15 on Sept. However, the price has been falling ever since. Therefore, according to the analyst, the entire previous increase now looks like a corrective one. If this is true, it means that the price will now drop to new lows. However, a bounce could occur in the $1.33 horizontal reinforcement area. An increase in wave C above $2.15 will invalidate this particular wave count.

EOS price may jump

According to the analyst, the action of EOS is very similar to that of ETC. The price has been declining inside a descending parallel channel since reaching $1.95 on August 22. Currently, EOS is trading very close to the channel support line and inside the $1.20 horizontal reinforcement area. Additionally, the six-hour RSI has created a bullish divergence. Therefore, it is possible for a valuable leap to follow. EOS lost 14 percent on a weekly basis.

Next up for CRV price: Altcoin will see big jump

Finally, the CRV has been falling since it reached $1.58 on July 28. The downside move has pointed to $0.83 so far. The decline brought the mainstay as low as $0.76. While not a decisive bullish sign, the six-hour RSI has started to create bullish divergence, so a valuable bounce is possible once CRC reaches the $0.76 support area.

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