3 Mid-Cap Cryptos to Buy if Market Correction Bottoms

Cryptos to Buy: Since last weekend, the crypto market has projected a sluggish trend following the consolidation in BTC above $55000. The sideways trend in most major coins indicates the market momentum stabilizing after the recent correction. 

However, the Bitcoin price still wavers at the risk of further downfall as the German government continues to offload more BTC. 

According to the latest data from crypto analytics firm Santiment, Bitcoin sentiment among traders on social media platforms like X, Reddit, Telegram, 4Chan, and BitcoinTalk has reached the most bearish levels seen in the past year. The firm notes that this extreme bearish sentiment, also known as Fear, Uncertainty, and Doubt (FUD), could be a contrarian indicator suggesting a potential rebound.

Bitcoin sentiment among traders on X, Reddit, Telegram, 4Chan, and BitcoinTalk are showing the most bearish narratives this week in a year. When the crowd shows FUD at this level, the chances of a rebound to catch the majority off guard is at its peak. pic.twitter.com/JLOhNB77n7

— Santiment (@santimentfeed) July 9, 2024

Santiment’s analysis highlights that when the crowd exhibits FUD at this magnitude, the likelihood of a price bounce increases significantly, often catching the majority off guard.

Thus, if the market correction bottoms in July, the top Mid-cap cryptos to buy Chainlink, WIF, and Notcoin emerge as potential reversal signs.

Also Read: Bitcoin Puell Multiple Flashes BTC Bull Run to Start Ahead in Q3

Cryptos to Buy- Litecoin (LTC)

Litecoin (LTC) is a peer-to-peer cryptocurrency that was created to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology. 

Litecoin (LTC)| Trading

Over the past five, the LTC price traded in a sideways trend resonating within two converging trend lines of the triangle pattern. The continuation pattern is known to drive a consolidation trend for traders to recuperate the prevailing market momentum.

Amid the early-July correction, the Litecoin price dropped from $76.2 to $56.68 registering a loss of 25.4%. This downfall has plunged the asset to the lower trendline— a dynamic support that acted as major accumulation points since December 2018.

Currently, the LTC coin trades at $65.6 Billion, while the market cap holds at $4.9 Billion.

If the triangle pattern holds true, the Litecoin price is poised for a major reversal, targeting the upper trendline around $90.

Dogwifhat (WIF)

Dogwifhat (WIF) is a meme coin operating on the Solana blockchain, inspired by the viral meme of a dog wearing a hat. The project leverages the power of community engagement and social media buzz to drive its growth and adoption.

Dogwifhat (WIF)| Tradingiew

Amid the recent market sell-off, the WIF price showed notable resilience above $1.47. Within three weeks, the meme coin rebounded twice from this horizontal support revealing the formation of a double bottom pattern.

This chart setup is often viewed as a bottom formation for an asset and provides buyers with a breakout opportunity. The WIF price currently trades at $1.7, while the market cap maintains at $1.701 Billion. 

Under the influence of this pattern, the WIF price is poised for a 40% rise before a major breakout from the $2.37 neckline. A potential breakout from this resistance will signal an early sign of trend reversal.

Notcoin (NOT)

Notcoin (NOT) is a community-driven cryptocurrency designed to onboard users into the Web3 ecosystem through an engaging tap-to-earn game.

Notcoin (NOT)| Tradingview

Defying the market uncertainty, the NOT price shows a sharp reversal from $0.0091 support. The bullish turnaround has uplifted the asset 79% to trade at $0.0163 whole market cap jumped the asset to $1.67 Billion.

Amidst this upswing, altcoin gave a decisive breakout from the bull flag pattern, signaling the end-of-correction trendline. In theory, the flag setup drives a temporary counter-trend move for market participants to restore prevailing bullish momentum.

If the breakout sustains, the Notecoin price could rise another 80% to rechallenge the $0.029 high.

Key Takeaway

The potential for prolonged correction continues to concern market performance as Bitcoin witnessed significant selling pressure from the German government. With BTC wavering around above $55000 support, a possible breakdown could accelerate the selling pressure. However, the pullback offers a discount value for sideways buyers of market reversal.

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