Hey Binance Square fam! 👋
The market's showing signs of weakness again, and altcoins are flashing warning lights. While some might still be hopeful, the charts suggest we could be headed for a bigger drop — especially if key support zones fail. Let’s break it all down!
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🔍 Altcoin Dominance Chart Signals Danger
The OTHERS.D chart (altcoin market cap excluding top 10) recently failed to breach the 0.38 Fibonacci level, which is a typical resistance point. Combined with bearish divergence and a weakening Awesome Oscillator, it hints at a potential -7.5% drop ahead.
If this plays out, many altcoins could tumble hard — unless bulls step in quickly.
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📉 Altcoins Testing Critical Support Levels
Here’s the latest status of 5 major altcoins and what to watch:
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1. $XRP
Current Price: $2.33
Support Zone: $2.10 – $2.15
Next Support Target: $1.95
Indicators: RSI oversold, bearish MACD
Summary: A breakdown from current support could take XRP to $1.95.
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2. Chainlink ($LINK )
Current Price: $15.87
Support Zone: $13.50 – $13.80
Next Support: $12.70
Indicators: EMA crossover forming bearish trend
Summary: If LINK closes below $13.50, expect more downside.
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Current Price: $176.27
Support Zone: $170 – $175
Next Major Support: $155
Indicators: Lower highs forming, momentum slowing
Summary: A breakdown could drag SOL to $155 or lower.
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4. Hedera (HBAR)
Current Price: $0.1888
Support Zone: $0.17 – $0.18
Resistance: $0.20
Indicators: Trying to break from descending trendline
Summary: Caution needed. Below $0.17, downside could accelerate.
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5. Telcoin (TEL)
Current Price: $0.00458
Support Zone: $0.0045 – $0.0047
Next Major Support: $0.0042
Indicators: Deep in oversold territory
Summary: If current support breaks, TEL could retest $0.0042.
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📊 Suggested Trade Setup (For Shorts)
Entry: Current price (based on chart confirmation)
Stop-Loss (SL): 5% above entry
Take-Profits (TP):
TP1: 2%
TP2: 4%
TP3: 6%
TP4: 8%
TP5: 10%
Always DYOR and follow risk management!
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⚠️ Final Words
This isn’t the time to go all-in blindly. With altcoins flirting with key supports and market sentiment shifting, staying cautious can protect your capital.
Be prepared. Be informed. Be strategic!
Disclaimer: This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before making any trading decisions.
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