With the Bitcoin worth crossing the $67K mark, the general market sentiment reveals a possible rise coming for the altcoins. Nevertheless, the weak point in a number of the altcoins warns of an prolonged correction within the coming week.
Furthermore, because the Bitcoin worth would possibly quickly face resistance of almost $70K, these altcoins would possibly face a significant drop. With the essential assist ranges underneath stress, sideline merchants might discover a promoting alternative in these altcoins.
Let’s look nearer at their worth evaluation for a greater understanding.
Weak spot in HBAR (HBAR) Warns $0.10 Breakdown
With a bullish development within the weekly chart, the rising channel reveals an increment within the underlying demand for HBAR tokens. Nevertheless, the upper worth rejection within the current candles warns of a reversal.
Additional, the declining development within the buying and selling quantity in the course of the restoration rally displays underlying weak point. Therefore, the bullish development could quickly subside underneath the rising provide and crash to the assist trendline.
Therefore, the HBAR worth could quickly crash underneath the $0.10 psychological mark.
BEAM Worth Vs. Resistance Trendline
With a bearish development in movement, the BEAM worth motion reveals a long-coming falling channel. Additional, with the current comeback, altcoin has challenged the overhead resistance trendline.
Because it approaches the trendline, the upper worth rejection and the bearish candles warn of a reversal. If the provision stress spikes, the BEAM worth might crash to the descending assist trendline at $0.0015 if $0.0020 assist breaks.
Render (RNDR) Retest Struggles Beneath Excessive Provide
With the RNDR token showcasing a bullish breakout of the $10 neckline, the continuing retest of the breakout brings an entry alternative. Nevertheless, the rising provide and the current bearish candle warn of a downfall.
Additional, the rising provide stresses the 23.60% Fibonacci stage. The declining buying and selling quantity displays an absence of bullish dedication.
In a bearish case, a downfall underneath $10 will crash the Render token to $7.