Three altcoins to consider as crypto fear and greed index hits 85
The crypto fear and greed index has climbed to an extreme greed level of 86, signaling potential gains in the near term.
Similarly, the altcoin season index has risen to 85, as most altcoins continue to underperform Bitcoin. Below are some of the top altcoins to consider buying and holding.
Chainlink
Chainlink (LINK) is the largest oracle in the crypto space, supporting major networks like AAVE, Compound, and Spark by bridging off-chain data to on-chain platforms. Its total value secured has surpassed $38 billion, with whales steadily accumulating the token.
Chainlink price has strong technicals as it has just moved above the upper side of the cup and handle pattern. It has also formed a bullish pennant pattern, which is made up of a long vertical line and a symmetrical triangle pattern. In most cases, this pattern often leads to a strong bullish breakout.
LINK has formed a golden cross on Nov. 22, as the 200-day and 50-day Exponential Moving Averages flipped positively. With these indicators, LINK’s next target could be $40, representing a 73% increase from its current level.
Shiba Inu
Shiba Inu (SHIB) is another altcoin to watch amid heightened market greed. The token has moved above a critical resistance level at $0.00002942, completing a cup and handle pattern.
SHIB has also formed a golden cross, suggesting further upside potential. It has broken above the first support of the Schiff pitchfork, while the MACD indicator is above the zero line, and the RSI stands at 65.
These technicals indicate that SHIB could rise further, with a target of $0.000045, up by 45% from its current level.
Pepe Coin
Pepe Coin (PEPE), another popular meme coin has also done well and could continue rising this year. It has formed numerous positive patterns like a bullish flag, a falling wedge, and a cup and handle.
Pepe is also attempting to move above the year-to-date high at $0.000026, its highest swing on November 14. By measuring the distance between the upper and lower side of the cup, there are signs that the coin will jump to $0.00002860 in the near term.
