3 Altcoins Set to Crash Next Week, Bitcoin (BTC) Correction Intensifies

With the Bitcoin correction growing intense after the Mt. Gox payout linked to supply, the altcoins are under extreme pressure.

As the Bitcoin correction intensifies following the Mt. Gox payout, which is closely tied to supply, altcoins are facing immense pressure. While traders are seeking altcoins to stack, certain coins are encountering difficulties reaching the next support level or are displaying weakness in these market conditions.

To avoid losses during the crypto market crash, traders should be cautious when trading specific altcoins, as they may experience significant drops in the coming week. Here's a list of altcoins with a 10% or greater chance of crashing:

1. ICP Price Faces a 25% Drop Due to Wedge Breakdown

During the pullback phase preceding the Bitcoin crash, ICP's price trend on the daily chart formed a falling wedge pattern. The pullback resulted in a death cross between the 50 and 200 EMAs on the daily chart, as the coin lost the crucial $10 support level.

TradingView Chart: ICP/USD Daily Price Action, Highlighting the Falling Wedge Pattern and Death Cross

With a 62% decline over the last 90 days, the altcoin has been under extreme bearish pressure, indicating a potential for further decline. As BTC's price fell below $60,000, ICP's price dropped beneath the falling wedge, signaling a sharp drop.

The next support level for ICP lies at $5.27, presenting a 25% downside risk and discouraging any bullish positions.

2. Bitcoin SV Doomed for a 20% Downward Spiral

BSV's price breaks below the descending support trendline as the bearish trend continues. Additionally, the 50D EMA serves as dynamic resistance, amplifying the bearish momentum.

TradingView Chart: BSV/USD Daily Price Action, Showcasing the Descending Support Break and 50D EMA Resistance

Over the last three months, the daily chart indicates a triangle breakout for the altcoin, with a 66% drop. As BSV's price drops below the $40 level, the 7% intraday drop anticipates a fall to the next support at $31.

Consequently, the altcoin faces a 20% downside risk and exhibits weakness, with limited chances for a reversal.

3. AI Token APT Might Crash by 25%

A double top formation on the weekly chart reveals another bearish trend for the AI token APT. The altcoin failed to maintain levels above $8, leading to a strong correction phase.

Tradingview Chart: APT/USD Weekly Price Action, Highlighting the Double Top Formation and Correction Phase

Currently, the altcoin trades at $6.27, showing an intraday decrease of 4.70% and a weekly drop of 11%. As it breaks below the $7 mark, the next support level is anticipated around $4.72.

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