Altcoins
Top 3 Altcoins Smart Money Will Buy This Weekend
Bitcoin is down to end the week in the red along with the top altcoins Ethereum (ETH), ZKsync (ZK), XRP, Dogecoin (DOGE) and more. A bullish outcome seemed possible earlier, potentially supported by the US PCE data.
However, bears are likely to gain the upper hand, perhaps triggering a prolonged sell-off. However, in this bearish mess, opportunities are hiding in plain sight.
Investors must successfully tackle the challenge of sifting through the noise to land on the gems with potential. The silver lining is that the team at CoinGape often puts together a list of the best Altcoins to buy which can serve as a starting point for investors. More research is needed on these projects to ensure that money is invested wisely.
1. Best Altcoins to Buy: Dogecoin
While signs of recovery have yet to fully develop, Dogecoin price is holding above multi-month support and forming a reversal pattern, indicating the potential for a significant rebound.
During the June market correction, the Dogecoin price recorded a significant decline, moving from a high of $0.165 to a low of $0.113, marking a loss of 31.6%. Despite this decline, the daily chart reveals the formation of a well-known bullish continuation flag pattern.
Dogecoin price chart
Under the influence of this pattern, the coin’s price is actively resonating within two trend lines, trying to regain momentum for the prevailing trends as per the theory. Dogecoin price is currently trading at $0.127 with an intraday gain of 0.22%, while the market cap has boasted $18.4 billion.
With the feeling of relief in the cryptocurrency market, the DOGE The price is attempting to break out of the immediate resistance of $0.129, coinciding with the 200D EMA. A successful breach could see the asset rise by 10% before challenging the major downside resistance of the flag pattern.
2.XRP
XRP holders are optimistic that the token, held back by a long-running lawsuit between Ripple, the issuing company, and the Securities and Exchange Commission (SEC), could eventually reach a new high, rising to $10.
The case filed in December 2020 has finally reached the trial stage with the SEC reducing its initial penalty proposal from $2 billion to $102.6 million. Ripple’s lawyers had proposed $10 million, just under 10% of the regulator’s new figure.
As far as investors are concerned, an XRP ETF would give the token more legitimacy as a cryptocurrency, much like Bitcoin and Ethereum. VanEck filed a request to Solana ETFs Thursday, raising the stakes for larger altcoins including XRP, Cardano, and Dogecoin.
XRP Price Chart | Tradingview
XRP’s rally to $10 would depend on overall market sentiment, increased demand, and FOMO among investors. It may even take longer to achieve this incredible feat.
XRP’s bounce is expected to gain momentum as the Relative Strength Index (RSI) bounces from the oversold region. Traders would confirm the uptrend after the RSI breaks the descending trend line and the price rises above the $0.5 resistance.
3. GameStop
GME token is up 26% in the past week, driven by momentum in meme-based cryptocurrency markets. The token fluctuates between $0.0066 and $0.0093, showing bullish trends.
On a monthly perspective, GameStop has risen more than 85%, reaching an all-time high of $0.03207 on June 7. After a brief decline, it is now on the road to recovery. This resurgence coincides with the return of the Roaring Kittenalso known as Keith Gill, in early May.
His influence has played a significant role in the token’s recent performance, paralleling the dramatic spikes in GameStop’s stock, which nearly doubled in pre-market trading following his activity.
GameStop Price Prediction
GME is ready to break the resistance at $0.0084 if the current uptrend persists. Such a move could push its value towards the $0.01 mark. A further surge could take it to $0.1 in the near future or even to $1 during a subsequent bull cycle.
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