Markets
Cryptocurrencies to Buy to Make $10,000: June Edition
Investors sighed, relieved by the drop in prices earlier this week, after US inflation data remained stable in May compared to the previous month. Bitcoin quickly climbed to $70,000 but failed to break the barrier, leading to a correction mirrored by altcoins. Amid declines, investors can purchase cryptocurrencies in DCA, taking advantage of discounted prices for maximum gains during the recovery.
According to CoinGape’s analysis, some cryptocurrencies to buy like Bitcoin, Bonk, and Cardano have the potential to grow a portfolio from $1,000 to $10,000 by the end of June.
Why focus on cryptocurrencies to buy amid bloodshed
The fall in BTC price triggered a cascading decline in altcoin prices led by the majors. cryptocurrencies buy like Ethereum (ETH), Solana (SOL), Bonk (BONK) and Cardano (ADA).
The total market value has suffered a significant drop, from $2.55 trillion in 24 hours from the time of writing this article, to $2.42 trillion currently. This decrease amounts to $0.13 trillion, or about 5%.
If the expected US Consumer Price Index (CPI) data turns out to be higher than the expected 3.4%, the sell-off could continue. In addition, the Federal Open Market Committee (FOMC) The meeting on Tuesday and Wednesday could either support the crypto market for a rebound or extend the crash.
Cryptocurrencies to Buy as Bitcoin Plunges
Investors are feeling the weight of the crisis that has dashed hopes of a continuation of the rally beyond the previous all-time high of $73,837, based on CoinGecko data.
All eyes now are on whether the buyer congestion at $66,000 can absorb overhead pressure and spark a rebound. A further drop to $64,000 cannot yet be decided.
As weak hands get shaken up, this could be a good time to focus on some cryptocurrencies to buy. Drawdowns allow investors to accumulate more, which maximizes long-term gains.
Therefore, this could be a good time to buy cryptos like Bitcoin, Ethereum, and Solana, among others. Due diligence must be carried out beyond this article.
1. Cryptocurrencies to buy Bitcoin (BTC)
After losing support at $70,000 last weekend and $68,000 on Tuesday, Bitcoin Price signals an extended trend at the highlighted support at $66,000.
Bitcoin remained below several key indicators and levels on Tuesday, including broken ascending trendline support and exponential moving averages (EMA) like the 20-day EMA, 50-day EMA, and 50-day EMA. 200 days.
The Relative Strength Index (RSI) position in the oversold region at 24 shows strong bearish grip. However, this may signal an imminent trend reversal. As the RSI begins to rebound, traders may want to enter the uptrend early by placing buy orders near the bottom of the short-term downtrend.
Bitcoin Price Prediction Chart | Commercial view
Failure to hold support at $67,000 could lead to further declines below $66,000. In such a scenario, Bitcoin Price Prediction reveals that $64,000 is not out of reach.
2. Bonk (BONK)
According to CoinGecko data, Bonk, a well-known coin in the Solana ecosystem, is in the green after maintaining an increase of 4% in 24 hours to oscillate at $0.00002785.
After climbing to $0.0000444 on May 28, Bonk began to struggle under the influence of investor profits. This slowdown coincided with a general downward trend in the market.
Bonk Price Prediction Chart | Commercial view
The bulls appear to be regaining strength, as observed with the Relative Strength (RSI) as it bounces into the neutral zone above 30. If the RSI uptrend continues towards overbought, the path of least resistance will will reverse upwards.
Bonk is also bound to reclaim his position above the 20-day EMA currently at $0.000028 and push for a daily close. Such a development will help solidify the bullish return and validate the weekend’s uptrend.
3. Cardano (ADA)
ADA fell below the $0.45 resistance level, indicating a bearish trend, with data from CoinMarketCap showing Cardano Price trading at $0.4316, with a decline of 1.72% over the past day.
Over the past week, ADA has seen a decline of over 5%, trading in a range of $0.45 to $0.42. Additionally, the token has faced increased volatility over the past month, with price fluctuations.
Cardano Price Chart
ADA price is currently trading in a downtrend. If the bulls manage to breach the $0.45 resistance, a resurgence of bullish momentum is expected. This upward surge could push the cryptocurrency towards a significant resistance test at $0.75, and if the bulls increase the pressure, ADA Price could reach $1 during the next bull rally.
On the other hand, if market strength remains insufficient, ADA’s value could weaken. It could potentially move down to its support level around $0.4. Continued bearish pressure could exacerbate the downturn, leading to a pullback towards a lower support level near $0.35 for the foreseeable future.
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