Along with the coronavirus epidemic in the world, increasing inflation and economic crises, the recent war tension has created a heavy burden on all money markets. Especially as of March 5, 2022, the decrease of around 5% in Bitcoin made the red color dominant in the entire market.
Bitcoin (BTC), struggling at $ 39,000 at the time of writing, also directs the altcoin markets. Expert analysts commented on LTC, CRO, HOLO and XRP units, especially AVAX.
Avalanche is among the coins that have had its share of the uncertain course of the market lately. With the recent decline, AVAX is at risk of returning to $57. AVAX, which is at $ 76.58 at the time of writing, is very close to seeing new lows in 2022, according to analysts.
If AVAX had closed at $91.50 daily, it could have experienced an almost ideal rise on Tuesday. However, due to the pressure of the sellers, AVAX started to move in the negative direction. The bears could take control if the AVAX price closes below the Ichimoku cloud on Saturday or Sunday, at $74 or below. In this case, it could push the AVAX price down from the $57 level to the 38.2% Fibonacci level.
Litecoin is priced at $103 at the time of writing. It is considered a final support area for LTC price. However, it stands out that participation and purchasing are weak. LTC has wiped out almost most of the over 80% increase it has experienced in the last few months. According to analysts, LTC is seen as the biggest leader in the cryptocurrency market when it comes to losing.
If the silver version of Bitcoin, LTC, fails at the last support area, the next target will be determined by the bears and the 100% Fib. It can see its expansion around $70. Buyers can close the price at or above $132.50 on the Ichimoku Cloud to avoid the drop, triggering the Ideal Bullish Ichimoku Breakout, invalidating any dip for now.
For ETH's trailing CRO, $0.446 is the strongest resistance area. If there is a candle close below $0.40, the CRO could fall as low as $0.33.
The CRO must maintain its price above $0.446 to avoid this scenario. This will be a very difficult task, according to analysts.
Holo is hovering around $0.0041 at the time of writing. HOT, which is trading below 85% of ATH, has too negative conditions to determine a rise in the near future. If a new rally occurs in the market, it could push the $0.01 area depending on BTC.
According to analysts' comments, XRP may rise to $5 this year. However, it is suggested that for this situation, the litigation process with the SEC should be concluded within 2022. With the conclusion, it seems likely that buyers will turn to XRP again and pull the price from $0.73 to $5.