Markets
3 Crypto Tendency to Buy When Bitcoin Moves Sideways
There is no one-size-fits-all solution when it comes to investing in the cryptocurrency market. For many, trial and error is the only way to achieve good results – those who develop crypto to buy wallets between 10 and 100 times.
Bitcoin Price reached a new all-time high after the approval of the spot ETF in the first quarter. This is an unprecedented milestone, breaking the norm of hitting a new high after every halving cycle.
However, Bitcoin recouped gains to the ATH high of $73.8737, CoinGecko according to the data, falling to $56,500 in early May. Besides the obvious profit-taking, the correction has been attributed to rising geopolitical tensions, regulatory pressure and other internal and external uncertainties.
Bitcoin regains momentum after Ethereum ETFs
The recent approval of Ethereum ETF was a positive move by the Securities and Exchange Commission. To a large extent, this development, although unexpected, legitimizes the crypto industry, opening up digital assets to prospects.
Bitcoin’s reaction to the news was remarkable as it rose above $70,000 before suddenly stopping at $72,000. Ethereum climbed above $3,000 and moved closer to $4,000 before returning to $3,760 on Wednesday.
The largest cryptocurrency was hovering at $67,423 during U.S. business hours, maintaining a 0.5% decline in 24 hours. Most altcoins are also in the red amid mixed signals from crypto to buy coins like XRP, SOL and Wireless.
1. Crypto to buy – Solana (SOL)
Over the past week, the price of Solana has declined by more than 5%, indicating a potential downtrend in the market. SOL is trading in a range of $160 to $168, reflecting increased volatility and a sense of caution among investors.
With ETH ETF approval hype and a slight stock market crash, Solana surged 23% last month, demonstrating its resilience in a volatile market. Solana price traded higher, breaking through resistance levels and maintaining strong support despite slight corrections, indicating investor confidence and strong performance of the underlying network.
If the bullish momentum returns, GROUND could reach the $170 level. With increased buying pressure, the price could rise above $180, reaching $200 during the next bull run. This potential move highlights the volatility and dynamic nature of Solana’s market performance.
2. Dogwifhat (WIF)
Dogwifhat (WIF), a cryptocurrency on the Solana blockchain, has seen a remarkable increase in its market value. Since its launch, Wireless soared 2,162%, making it one of Solana’s most successful altcoins this year. This meteoric rise has allowed investors to significantly multiply their investments, with a potential return of 100X.
WIF’s bullish trend has also sparked interest in other cryptocurrencies such as PEPE, BONK, FLOKI, DOGE, and SHIB. Despite broader market corrections, these coins benefited from the positive momentum of the WIF. WIF is trading at $3.83, with a 24-hour increase of over 3%. It ranks 28th on CoinMarketCap, with a market capitalization of $3.7 billion.
3.XRP
XRP price remained below all three short-term exponential moving averages (EMAS), including those at 20, 50, and 200 days on the four-hour chart. Overhead pressure continued to build after the token hit a wall at $0.54 last week.
Two key levels can determine whether XRP Price will see a bullish or bearish result. The first is the lower support limit of the ascending channel and buyer congestion at $0.52. Breaking these two levels would leave XRP defenseless and increase the chances of a correction to $0.5 and below.
A break of the resistance at $0.54 would confirm the growing presence of the bulls in the market. If XRP breaks free from resistance at $0.7, the path of least resistance will reverse upward, paving the way for a larger move towards $1.
Final Thoughts
Investing in cryptocurrencies may require some risk. However, by doing due diligence, investors can identify projects that have the potential to generate massive returns. As Bitcoin finds direction, cryptocurrencies to buy like SOL, WIF, and XRP stand out, promising gains of 10x to 50x.
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John is a seasoned crypto expert renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Forecast Editor for Market Content at CoinGape Media, he is dedicated to providing valuable insights into price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding On-Chain Data Analytics, Non-Fungible Tokens (NFT), Decentralized Finance (DeFi), Centralized Finance (CeFi) and the dynamic landscape of the metaverse. Through his constant reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.