3 Trending Crypto To Buy When Bitcoin Is Moving Sideways
There is no one-size-fits-all-all as far as investing in the cryptocurrency market is concerned. For many, trial and error is the only way to get successful results—those that grow crypto to buy portfolios by between 10X and 100X.
Bitcoin price rallied to a new all-time high after the approval of the spot ETF in Q1. This was an unprecedented milestone, breaking the norm of achieving a new record high after every halving cycle.
However, Bitcoin clawed back the gains to the ATH high of $73,8737, CoinGecko data shows, falling to $56,500 in early May. Besides the obvious profit-taking, the correction was attributed to mounting geopolitical tensions, regulatory pressure, and other internal and external uncertainties.
Bitcoin Regains Momentum After Ethereum ETFs
The recent approval of Ethereum ETFs was a positive gesture from the Securities and Exchange Commission. To a large extent, this development although unexpected, legitimatises the crypto industry, opening digital assets to prospects.
Bitcoin’s reaction to the news was remarkable as it breached $70,000 before suddenly stopping at $72,000. Ethereum climbed above $3,000 and closed in on $4,000 before pulling back to $3,760 on Wednesday.
The largest cryptocurrency hovered at $67,423 during US business hours, maintaining a 0.5% decline in 24 hours. Most altcoins are also in the red amidst mixed signals from crypto to buy coins like XRP, SOL, and WIF.
1. Crypto To Buy – Solana (SOL)
Over the past week, the Solana price has decreased more than 5%, indicating a potential bearish trend in the market. The SOL has been trading in a range of $160 to $168, reflecting increased volatility and cautious sentiment among investors.
With ETH ETF approval hype and a slight market crash, Solana surged by 23% last month, showcasing its resilience in a volatile market. The Solana price has been trading bullish, breaking through resistance levels and maintaining strong support despite slight corrections, indicating investor confidence and robust underlying network performance.
If bullish momentum returns, SOL could rise to the $170 level. With increased buying pressure, the price might surge above $180, reaching $200 in the next bullish run. This potential movement underscores Solana’s market performance’s volatility and dynamic nature.
2. Dogwifhat (WIF)
Dogwifhat (WIF), a cryptocurrency on the Solana blockchain, has seen a remarkable surge in its market value. Since its launch, WIF has skyrocketed by 2,162%, establishing it as one of Solana’s most successful altcoins this year. This meteoric rise has allowed investors to significantly multiply their investments, with the potential for 100X returns.
WIF’s bullish trend has also sparked interest in other meme cryptocurrencies such as PEPE, BONK, FLOKI, DOGE, and SHIB. Despite broader market corrections, these coins have benefited from WIF’s positive momentum. WIF is trading at $3.83, with a 24-hour increase of more than 3%. It holds the 28th position on CoinMarketCap, with a market cap of $3.7 billion.
3. XRP
XRP price hovered below all three short-term Exponential Moving Averages (EMAS), including the 20-day, 50-day, and 200-day on the four-hour chart. Overhead pressure has continued to intensify after the token hit a wall at $0.54 last week.
Two key levels may determine if XRP price will see a bullish or bearish outcome. The first is the ascending channel’s lower support boundary and the buyer congestion at $0.52. Breaching these two levels would leave XRP defenseless and increase the chances of a correction to $0.5 and below.
A breach of resistance at $0.54 would affirm the bulls’ growing presence in the market. Should XRP break free of resistance at $0.7, the path of least resistance will flip upward, paving the way for a larger move to $1.
Final Thoughts
Investing in cryptocurrencies requires may require an element of risk-taking. However, with due diligence investors can identify projects with the potential to achieve massive returns. As Bitcoin finds direction, crypto to buy like SOL, WIF, and XRP stand out, promising 10x to 50x gains.
The post 3 Trending Crypto To Buy When Bitcoin Is Moving Sideways appeared first on CoinGape.