Bitcoin price remains at $58,400, while several altcoins are experiencing significant losses. This week has proven challenging for the cryptocurrency market, with PEOPLE Coin suffering the most severe decline. The altcoin has dropped over 30% in a single day, making it the biggest loser on Binance. The focus now shifts to the price forecasts for three notable altcoins.
What Is Happening with PEOPLE Coin?
PEOPLE Coin, which surged by 475% until June 9, has now plummeted 62% over the past 25 days. The cryptocurrency has lost around 40% in just the last two days, currently resting at a support level of $0.053. Should it break below this point, it could fall further to $0.0425 and $0.033. A recovery would require reclaiming the $0.0773 level, but if Bitcoin remains weak, the price could drop to $0.0221.
Will SUSHI Coin Find a Bottom?
SUSHI Coin has decreased by $1.48 and is heading towards deeper lows, with the next significant support at $0.6. Currently, it hovers at $0.66 after falling 61% over 86 days. The lack of response to interim gains indicates a lack of investor interest. However, a potential rise in Bitcoin could spur a new wave, potentially targeting $1.9.
Key Insights for Traders
- Monitor PEOPLE Coin’s support level at $0.053 closely for signs of further decline or potential rebound.
- Watch SUSHI Coin at $0.6 support to determine if a new upward trend might emerge.
- For AEVO Coin, keep an eye on the $0.44 support and a possible move towards $0.629 resistance.
AEVO Coin, since its March 13 listing on Binance, peaked at $3.946 by March 28 but has since nosedived by 90% over 98 days. Despite attempts to hold at the $0.44 support level, the coin remains in a severe downtrend. A successful rebound to $0.629 could signal a potential rise towards the $1.86 peak.
In conclusion, while Bitcoin stays stable, the recent performances of PEOPLE Coin, SUSHI Coin, and AEVO Coin highlight the volatility within the altcoin market. Investors should carefully monitor support and resistance levels to navigate these turbulent times.