Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs.
What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering worldwide, but it is exactly these kinds of conditions that create opportunities where professional money accumulates and adds to positions.
Let’s take a look at three altcoins that could be positioned for a rebound if the broader market enters a new uptrend.
ADA could be setting up for an 80% surge
Cardano (ADA) has a significantly bullish update coming very soon. The much anticipated Vasil hard fork, which increases performance and adds more Plutus enhancements, is planned for June.
From a price action perspective, ADA is positioned in a strong price range that will likely support any further upside that the broader market experienced. Within…