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Feeling the pressure of this bearish market? Uncertainty hanging over your head like a storm cloud? Well, we’re in the same boat BUT we’re also always hunting for those top-performing tokens.
Yes, even when the market keeps throwing curveballs at us, we’ve got our eyes on the prize, the tokens that still manage to beef up our bag. They don’t happen often and they don’t last for long but they’re not a myth.
You’re in luck because Cryptonary has your back 🤝
We’ve uncovered not just one, but a pair of stellar tokens ready to shine bright…
TLDR 📃
- Even though the altcoins market has hit support, it’s not safe from BTC’s bearish price action. The bottom is unlikely in for those even if a bounce happens from here.
- ETH is treading on thin ice too, sitting at support. We’re keeping a close eye on the market before predicting its next move.
- We’ve got two tokens that are looking better than the rest of the market 👀. We’ll call them the “odd outperformers”. You’ll understand why in a second.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.
Total Market Cap
The Total Market Cap (TOTAL) index represents the entire cryptocurrency market. We track this index to understand where the overall market is now and predict where it will go next.
Altcoins Market Cap
The Altcoins Market Cap (ALTS) index represents the entire valuation of the altcoins market: all coins other than BTC.
The altcoins market is at support ($550B). With BTC on its way to $25,150, chances are we’ll see this index losing support and heading lower.
Bitcoin | BTC
Ethereum | ETH
ETH is approaching support ($1,740). We recommend waiting for more price action to form before starting to accumulate because this level of support can easily be lost. A loss of $1,740 will put ETH on track for $1,420.
Binance | BNB
Cardano | ADA
Dogecoin | DOGE
Polygon | MATIC
Solana | SOL
Polkadot | DOT
The odd outperformers 🧠
Here’s a twist – two cryptocurrencies defying the odds with their performance, despite their poor fundamentals. But hey, in the world of technicals, it’s all fair game!
So, without further ado, let’s get into it.
TRON | TRX
TRX has been on a roll.
Despite the market’s bearish blues, this token managed to rise above. Now, it’s rocketing towards the $0.08 – $0.093 resistance area full steam ahead. In the weeks to come, we’re expecting it to outshine the market, unless the support channel crumbles – that’s our only deal breaker.
Ripple | XRP
Now, let’s dive into the really good stuff. Meet our next potential star performer:
Last week, XRP wrapped up with a bullish engulfing – a two-candlestick dance. Picture this: the first candle is bearish, the second bullish, closing above the opening of the first, and ‘swallowing’ all the selling pressure. It’s a clear sign of high demand knocking on the market’s door.
Here’s a visual to make it even clearer:
Plus, Ripple has been handling their SEC lawsuit like pros as the end draws near. You can catch more details on that here.
With its sights set on $0.51, XRP could outshine many bearish assets. But beware, a BTC-induced price drop could flip our prediction on its head.
Cryptonary’s take 🧠
Although you may now have a glimmer of hope for the short term, it’s important to remain cautious and keep your exposure minimal.
The market can be predictable, but humans… let’s just say – not always. If you make a good play in an overall bear market don’t let it get to your head and think you are the ultimate genius because the market will humble you.
Stay grounded, stay attentive and most importantly: protect your capital.
Action points 🎯
- Wait for BTC to touch support ($25,150) before starting to accumulate. More downside isn’t guaranteed, but it sure as hell is obvious.
- XRP and TRX can perform well in the coming weeks. However, that doesn’t give them an “anti-bear shield”. BTC can bring their prices down.
- Got questions? Join our Discord, we have armies to giga-brains waiting for you!
Thank you for reading! Stay safe out there.
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