Recovery of Altcoins Post-FTX Crash: A Look at the Top Performers
Altcoins have been on a rollercoaster ride following the collapse of the FTX exchange in November 2022. While the market took a hit, some tokens have managed to bounce back and reach new highs against BTC. Let’s take a closer look at the altcoins that were able to recover from the FTX crash:
1. Render (RNDR)
- Benefitting from the 2024 AI narrative and positive Nvidia reports, RNDR has cleared its peak price above the 0.0001100 threshold.
- The altcoin’s price has consistently made higher lows and remains above the rising trendline.
- RSI and MACD indicators support continued bullish momentum in the RNDR market.
2. SingularityNET (AGIX)
- AGIX has recorded a new peak post-FTX collapse and is consolidating within a falling wedge pattern.
- Technical analysis suggests a potential bullish move with a profit target of 0.00005000.
- The recent ASI token merger signals a significant shift in the decentralized artificial intelligence market.
3. Injective (INJ)
- INJ climbed nearly 590% post-FTX collapse before experiencing a correction.
- The altcoin currently trades at 0.00036 and shows indicators of growing bullish momentum.
- Further upside potential indicated by the MACD histograms and RSI resistance levels.
4. Tellor (TRB)
- TRB price soared post-FTX collapse but has since retraced below pre-collapse levels.
- Possible buy signal indicated by MACD crossover above the signal line.
- A candlestick close above 0.00746 would confirm a bullish outlook for Tellor.
5. Astar (ASTR)
- Astar reached an all-time high but corrected soon after, showing signs of more losses.
- Negative indicators like RSI and AO suggest a bearish outlook for Astar.
- Bearish thesis for Astar can only be reversed with a close above the 0.00000500 level.
6. ssv.network (SSV)
- SSV/BTC pair consolidates within an ascending parallel channel, signaling potential gains.
- Traders advised to wait for RSI confirmation before entering positions on ssv.network.
- A break below the lower trendline could shift sentiment to the bears.
7. Trust Wallet Token (TWT)
- TWT price soared post-FTX collapse but remains within a lull market phase.
- Indicators like RSI and MACD show a lack of bullish momentum for TWT.
- Future price movements depend on market sentiment and external factors.
8. Binance Coin (BNB)
- BNB price reacted positively to the FTX collapse but faced regulatory pressures in 2023.
- Growing bullish sentiment indicated by RSI and MACD trends.
- A bullish outlook for BNB requires a breakout above key Fibonacci levels.
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