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Experts Say Market Downturn is Short-Lived: When Will the Bulls Take Over?

The crypto market faces a price drop triggered by a decline in Bitcoin's value. Altcoins, though currently at low prices, show potential for sudden growth.

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Experts maintain that this market downturn is a temporary phase. Enthusiasts and investors await the next bull run with bated breath. As Bitcoin continues to influence market sentiment, altcoins remain poised for explosive growth. The timing of this anticipated surge piques curiosity and offers hope amid the current slump. This article delves into expert opinions on when the bulls might return and which altcoins are primed for significant gains. Find out more about which coins could be the next big movers and shakers in the crypto space.

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Injective (INJ) Poised for Breakout as Altcoin Season Dawn Approaches

Injective (INJ) is currently in a price range of around $20.53 to $25.32, after a recent dip. Despite the recent downturn, bulls are showing signs of strength as the price nears a critical resistance level at $27.18. If breached, INJ could aim for the next target at $31.98, potentially rising by over 50% from the lower end of its current range. With oversold conditions indicated by an RSI of about 30.54 and a Stochastic value near 24.24, momentum might soon swing upwards. Keep an eye on these levels; if the market rallies, INJ could be one of the standout performers.

Render (RNDR) Poised for Comeback Amid Market Slump

Render (RNDR) has faced a sharp drop, with prices now hovering between $6.96 and $8.17. Despite the dip, the bulls are not out of the game yet. The coin's 6-month growth of almost 62% hints at its potential to bounce back. Investors eye $8.65 as the first resistance level, and a breakthrough here could push RNDR towards $9.86, marking a strong recovery. If the coin climbs to this second resistance, it would be a rise of around 21% from its current high. With the right market conditions, RNDR might be set for an impressive bull run akin to 2021 patterns.

Hashflow (HFT): Bears Take the Lead, But Bulls Are Poised for a Comeback

Despite Hashflow facing a sharp 50% monthly decline, falling to a range between $0.1914 and $0.2322, the bullish potential is far from over. Bears have been strong this season, but the RSI of 23.36 indicates the coin is highly oversold. The nearest resistance at $0.2519 could be the first breakout target for bulls. If momentum shifts, HFT may even aim for the $0.2927 resistance level, marking a potential rise of over 30%. This year mirrors 2021 patterns, suggesting a comeback could be on the horizon.

Jito (JTO) Could Surge Despite Recent Setback

Jito (JTO) is facing a bearish trend with a current price range of $2.10 to $2.75. Over the past week, it dropped by close to thirty percent, and for the month, it’s down over fifty percent. However, it has shown resilience with a six-month increase of about two percent. Bulls currently appear weak, but with an RSI near thirty, it suggests Jito is oversold. If it can break the nearest resistance at $3.07, the next target is $3.72. That means it could potentially rise by over forty percent from current levels, aligning with past bull run patterns in the crypto market.

Conclusion

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