Best Altcoins Under $1 To Invest In Before A New Bullish Period Resumes

Cryptocurrency markets are consolidating as Bitcoin Price plunges below $61,000, sending bearish waves circulating within the markets. Meanwhile, altcoins have also started correcting to some extent, which signals that the token may enter a new uptrend very soon. Here are some of the altcoins that are poised to hit $1 in the upcoming bull run.

Pyth Network (PYTH)

• Pyth Network has attracted a lot of attention as its price has surged over 400% since the beginning of the year, remaining unchanged despite the downtrend that followed.

• The price is moving inside a descending parallel channel and is consolidating in a range of the last two weeks

• The extreme consolidation suggests that bulls may soon gain dominance and push levels up initially to $0.5

• As the selling pressure has intensified over time, it seems that the bulls may renew a steep uptrend as suggested by the bullish-bearish power

• Once PYTH price holds at these levels, the path to $1 could be quite clear without any major hurdles.

Zk Sync (ZK)

• zkSync has just started its trading journey and hence it is believed that it will demonstrate a huge price action in the coming days.

• The RSI has maintained an incremental trend, due to which the price is on the verge of completing the parabolic recovery to reach the neck line.

• The neckline around $0.232 to $0.23 can be considered extremely crucial as the bulls are expected to fall weakly at these levels.

• Meanwhile, if they show some strength at these levels, then the price could trigger a fresh increase to form a new ATH above $0.3

• By that time, market sentiment may have turned bullish, which could trigger a new upward trend, uncovering new highs in the second half of 2024.

Confluence (CFX)

• The recent pullback seemed to be the end of the uptrend as the price dropped after forming a mountain

• However, the possibility of a trend reversal is emerging as the RSI is testing the average range again, aiming to break out of the levels.

• Unfortunately, bears have dominated the markets and as a result, the price may also experience a small pullback.

• After suffering a small decline of almost 18%-20%, CFX price is expected to start a new bullish phase and maintain a strong uptrend to reach the upper resistance zone of $0.21

• Markets are expected to become more optimistic in the final quarter, which could trigger a new upward trend to reach $1 in the final weeks of 2024.

Ethena (ENA)

• Ethena price has been stuck in a strong downtrend since the beginning of its trading journey and has formed highs

• The price has formed new highs near $1.5 and after marking the lows, the token is trying with all its might to recover

• Therefore, the price is expected to regain $0.5 any moment now, which may elevate the levels above $0.65 by the end of the month.

• The RSI that has touched the bottom, could trigger a rebound, validating the bullish trajectory and aiming to reach the upper threshold

• Therefore, ENA price is expected to hold above $0.8, which may pave the way for it to reach $1 in the coming months.

Cloak (MNT)

• MNT price dropped below the crucial ascending trend line and marked lows along the support zone just below $0.8

• The price is consolidating heavily inside the support zone, which should result in a huge breakout very soon.

• Since the RSI has reached the lower threshold, a bounce can be expected, reviving a new upward trend above 50.

• This move could push the price above $1, but it could also reach the upper resistance near $1.5.

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