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The post Will Ether.Fi and SLERF Be Top Altcoin Performers In March? appeared first on Coinpedia Fintech News
Amidst the broader market correction as Bitcoin falls 8% to break under the $64,000 mark, the altcoins are taking a critical hit. With the immense sell-off in the crypto market, Coinglass displays a huge number of long positions liquidating, accounting for $349.26M in the last 12 hours.
As the sellers are trying to take over the larger market, some newly launched coins are finding a niche-focused rally. With a bull run turning in a short-term range, these coins are preparing for their next surge. Will they manage to sustain the uptrend and swim against the broader’s bearish wave?
Will ETHFI Price Give A Bullish Break?
Following the jump from $0.230 to the $3.96 mark, the ETHFI price undergoes a short-term consolidation range in the 15 mins chart. As the altcoin is newly launched, the volatility is suspected to peak with the range breakout.
Hence, the sideline traders expect the bullish range breakout to propel the altcoin’s price higher above the $5 mark. As per the Fibonacci levels, the range is forming between the 50% and 100% Fibonacci level, and the breakout of either level will set the tone for future price trend.
If the ETHFI price breaks above the $4 mark, the Fibonacci levels predict the next junction at $6.628. On the flip side, the bearish breakdown could result in a plunge in altcoin to the $2 mark.
Can Triangle Breakout Fuel This Altcoin’s Rally?
With a bullish breakout of the triangular pattern in the 15-minute chart, SLERF, the newly launched token, shows a rising trend in play. As the altcoin shows a jump from $0.10 to the $1.19 mark, the bulls are maintaining trend control.
Currently, the SLERF price shows a retest in action as it reverses from the $1.19 mark. This pullback is a retest of the triangle breakout and approaches the 50% Fib level at $0.68. Thus, the price action shows increased bounceback chances.
If the buyers manage to regain the uptrend, then the altcoin price can break $1.19 to $1.87. On the flip side, the meme coin could plunge to $0.40.
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