The cryptocurrency market‘s total market value is stuck around 2.3 trillion. Recently, the altcoin king Ethereum (ETH) experienced a 7% drop compared to Bitcoin (BTC), while altcoins are testing critical support levels. If 
market conditions improve, some altcoins are expected to gain value rapidly. Here are three altcoins that could surge if the market recovers.
Solana (SOL)
Currently, Solana is challenging a significant supply zone at the $185 level and is in a recovery rally. Ignoring yesterday’s drop, SOL rose by 2.49% today, lighting up bullish candles.
The daily price action is forming a double bottom pattern with a neckline at the $185 level. The high price rejection on July 29 increases the importance of this area. According to Fibonacci levels, the expected breakout could push SOL’s price above the psychological level of $200. With a target level of $223 corresponding to the 1.618 Fib level, SOL stands out as one of the best altcoins to buy during this period.
Chainlink (LINK)
Chainlink continues to stay above the $12 support level despite the downtrend, signaling a potential upward move. Low price rejections from the support zone indicate that the altcoin is seeing resistance from the dynamic 50-day EMA.
If market sentiment improves in the coming weeks, the DeFi altcoin could make a significant breakout. According to Fibonacci levels, $16.75 and $21 are two key resistance points LINK will encounter if it breaks out. Currently in an uptrend, LINK‘s potential makes it one of the important altcoins to buy during this period.
Arbitrum (ARB)
The increasing number of active users in Ethereum Layer-2 protocols indicates a significant bull run potential for Arbitrum. However, after the death cross, ARB’s price continues to remain in a downtrend, unable to surpass the 50-day EMA.
The RSI divergence on the daily chart and the recent turn from the 50-day EMA to the $0.61 support level indicate a possible double bottom reversal. Therefore, with a potential breakout run, ARB‘s price could reach $1.11, corresponding to the 200-day EMA. The potential 63% rise above the psychological level of $1 makes ARB one of the best altcoins to buy during this market downturn.
