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The crypto market is dumping immensely following in the Bitcoin price footsteps as it sinks below $40,000. Since the spot BTC ETFs went live in the US, it has been a massacre for the largest crypto and the top altcoin alike.

Somebest crypto-to-buymajors like Ethereum, Solana, and XRP took a significant hit, plunging to $2,212, $80, and $0.5, respectively.

Often downturns in markets offer previously sidelined investors a chance to dollar-cost average (DCA) and book cheaper positions, which had been missed during previous rallies.

Some of the top altcoins standing out on January 23 like Chainlink (LINK), Shiba Inu (SHIB), and Terra Classic (LUNC) could offer once-in-a-lifetime opportunities, considering the growing expectations of a bull run in 2024 and 2025, courtesy of the upcoming halving.

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Chainlink has always been a big contender among altcoins bolstered by its role as the most prominent Oracle provider. The crypto project is also having a blast supportingReal World Assets(RWAs) a new sector with great potential in the future as crypto becomes mainstream.

However, like many of its peers, Chainlink price tumbled from highs recently achieved slightly above $17 to $13.6 due to the widespread drawdown in the market.

With support at $14 turning into an immediate resistance, the downtrend is expected to carry on.

Already bulls seem overpowered due to falling Chainlink below two key moving averages; the 20 EMA (blue) and 50 EMA (red). LINK also risks breaking out of the rectangle pattern and adding to the sell-off.

On the bright side, these dips can serve as potential entry positions as LINK has exhibited resilience and the ability to recover even after extensive pullbacks. Support could come in handy at $13 (rectangle support), the 200 EMA at $11.52, and if push comes to shove at $10.

The second-largest meme coin has not mirrored the spectacular rally in 2021 that saw it hit a new all-time high of $0.000086. With recovery becoming elusiveShiba Inu, movements were confined between resistance at $0.000018 and $0.000006 for about two years.

This ongoing sell-off is exerting pressure on key support areas within the range, for instance, $0.000008, considering SHIB is trading at $0.0000084 at the time of writing.

If the negative outlook is not handled andShiba Inu pricebegins to roll back up again, it would not be prudent to rule out a further decline to support areas $0.000007 and $0.000006, respectively.

Employing a DCA strategy with these key levels, investors can identify key buy-the-dip opportunities and capitalize on them as the crypto market generally recovers.

Terra Class performed commendably well in Q4 2023, rising from $0.000055 in October to $0.00027 in early December. In addition to the generally bullish crypto market during this period, the ecosystem voted to pass key proposals seeking to improve the outlook of tokens such as LUNC andUSTC.

This supplied both the tokens with liquidity to sustain the rally, hence the spike in Q4.

Now that the path of least resistance has shifted downwards withTerra Classicbleeding to $0.000089, it could be a good time to look out for possible trend reversals as key support areas like $0.00007, $0.00006, and $0.000055.

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Which Top Altcoin To Buy For The Bull Run Today: LINK, SHIB, LUNC - CoinGape