5 altcoins that can turn from stable to strong bitcoin price

Major U.S. stock market indexes continued to decline last week as macroeconomic conditions worsened as fears of a global recession rose. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indexes posted their fifth weekly close in the past six weeks.

Although Bitcoin (BTC) is down slightly this week, it risks closing at its lowest level since 2020. While a new multi-year weekly close is a negative sign, sellers must maintain low levels or become a potential bear trap. The next few days of price action may witness higher volatility as both bulls and bears battle for supremacy.

Daily View of Crypto Market Data. Source: Coin 360

Many investors miss buying opportunities during sharp corrections because they try to catch the bottom. Traders should focus on their favorite projects and accumulate the coins in stages that last for a few weeks or months. Not all coins will go down at the same time, so it is better to focus on individual cryptocurrencies that show strength.

While Bitcoin is nearing annual lows, some altcoins are holding up well. Let’s take a look at the charts of five cryptocurrencies that look interesting in the near term.