The crypto market started the week on a bearish note, with Bitcoin slipping below $98,000 during today’s intraday low. This downward pressure has extended to altcoins, many of which are experiencing significant corrections. However, amid the downturn, opportunities may be emerging.
BeInCrypto has identified three altcoins to watch, as they could present promising opportunities for investors despite the current market conditions.
Celestia (TIA)
TIA has dropped 12% over the last 24 hours, currently trading at $3.96. Despite the decline, the altcoin is managing to hold above the critical support level of $3.88, which remains key to avoiding further downside.
Celestia is working on introducing 8 MB blocks to its mainnet, a feature that has already been live on the Arabica testnet since December 2024. This upgrade aims to enhance data throughput significantly, potentially attracting larger investments and boosting market confidence in the altcoin’s long-term prospects.
If TIA successfully bounces off the $3.88 support, its price could climb toward $4.50. Reclaiming this level would be essential to offset recent losses and reignite investor interest, potentially paving the way for renewed upward momentum in the coming days.
Shiba Inu (SHIB)
Shiba Inu’s price dropped 11% in the past 24 hours, trading at $0.00001776. This decline pushed the meme coin back into a consolidation range between $0.00001961 and $0.00001676. Investors are now watching closely for signs of recovery or further downside.
This price dip presents an opportunity for investors to buy at a low, with the potential for recovery supported by strong market sentiment. If broader market conditions improve, Shiba Inu could climb back toward the $0.00001961 resistance level, potentially marking the start of a new upward trend.
However, if Shiba Inu remains stuck within its current consolidation range, recovery efforts could be delayed. Prolonged stagnation would leave SHIB vulnerable to breaking below $0.00001676, which could further dampen investor confidence and slow any chance of a rebound.
EigenLayer (EIGEN)
Another one of the key altcoins to watch is EigenLayer. EIGEN’s price has dropped nearly 14% on the daily charts, currently trading at $2.41. Despite this decline, the cryptocurrency is managing to hold above the critical support level of $2.35. Investors are closely monitoring whether EIGEN can sustain this support amid ongoing market volatility.
EIGEN is at risk of testing its all-time low of $2.14 if the downward trend continues. However, the upcoming launch of EigenLayer’s Rewards V2 could shift sentiment. This protocol upgrade aims to improve flexibility and efficiency within the ecosystem, marking a significant milestone for the project’s governance.
If EIGEN loses the $2.35 support, a drop to $2.14 becomes likely, delaying any hopes of recovery. Such a move would invalidate the bullish outlook, heightening investor concerns. The coming days will determine whether EIGEN can stabilize or succumb to further losses.
Disclaimer
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