The cryptocurrency market began the week with a downward trend, as Bitcoin fell below $98,000 in today's trading session. This bearish sentiment has also affected altcoins, leading to significant corrections in many of them. Despite the current challenges, there are potential opportunities arising.
BeInCrypto has highlighted three altcoins that investors should keep an eye on, as they could offer promising prospects despite the prevailing market conditions.
Celestia (TIA)
TIA has experienced a 12% decline over the past 24 hours, currently priced at $3.96. Despite this drop, the altcoin is managing to maintain levels above the critical support of $3.88, which is crucial in avoiding further downside.
Celestia is actively working on integrating 8 MB blocks into its mainnet, a feature already operational on the Arabica testnet since December 2024. This upgrade is expected to significantly enhance data throughput, potentially attracting increased investments and boosting confidence in the altcoin's future prospects.
Shiba Inu (SHIB)
The price of Shiba Inu has decreased by 11% in the last 24 hours, trading at $0.00001776. This decline has pushed the meme coin into a consolidation range between $0.00001961 and $0.00001676. Investors are observing closely for signs of a potential recovery or further downside movement.
EigenLayer (EIGEN)
EigenLayer is another key altcoin to monitor closely. EIGEN has seen a nearly 14% drop on daily charts, currently priced at $2.41. Despite this decline, the cryptocurrency is holding above the critical support level of $2.35, with investors monitoring closely for its ability to sustain this support amid ongoing market volatility.
EigenLayer is facing the 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, aiming to enhance flexibility and efficiency within the ecosystem and signaling a significant milestone for the project’s governance.
In conclusion, the next few days will be crucial in determining whether these altcoins can stabilize or face further losses, ultimately shaping investor sentiment in the market.