Correction Phase Continues, Best Coins to Watch for a Technical Bounce

The market is experiencing a downward trend, but several digital currencies show strong potential for a rebound. Readers will discover which coins are poised for a technical bounce, offering a glimpse of opportunities amid the decline. Learn about the most promising options currently on the radar.

Toncoin Holds Steady in Shaky Market, Eyes Potential Surge

Source: tradingview 

Toncoin is currently trading between $1.61 and $1.77, remaining above its support line of $1.56 and just below its next hurdle at $1.87. If the coin manages to overcome this barrier, it could aim for the $2 mark. This would represent a rise of roughly 20% from its current lower range. Recently, Toncoin has seen a 7% spike this month, although it has decreased by over 10% in a week and dipped significantly by half over six months. With a Relative Strength Index near 55 and MACD in positive territory, Toncoin shows a stable but cautious momentum in this unpredictable market.

Chainlink Climbs Amidst Market Volatility

Source: tradingview 

Chainlink's price movement shows a promising upswing, currently sitting between $12.71 and $14.17. Despite a recent slump, losing nearly 12% in a week, LINK appears to be rallying. It's bouncing above its short-term support of around $12.09 and could test the $15.02 resistance soon. If momentum picks up, the $16.48 mark is another target, representing a potential lift of around 20% from current levels. With its RSI hovering slightly above neutral, it's in a reasonably balanced position, making further growth achievable if market conditions remain favorable.

Avalanche (AVAX) Seeks Stability Amid Recent Fluctuations

Source: tradingview 

Avalanche (AVAX) is currently priced between $12.30 and $14.30, trying to find stable ground amid recent market fluctuations. Over the last week, AVAX has faced a steep drop of about 15%, but its monthly change shows stability with almost no loss. If AVAX can break through its nearest resistance of about $15.60, it could potentially climb towards $17.60, indicating a growth of roughly 23% from the lower price range. However, it sits slightly above its simple moving averages of 10 and 100 days, suggesting potential volatility. Investors are closely watching these levels to gauge the coin's next move.

Conclusion

The correction phase presents an opportunity to spot potential rebounds. TON, LINK, AVAX, and are worth tracking for a technical bounce. These coins could see upward movements as the market adjusts. Keeping an eye on their price movements may reveal short-term gains.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.