Altcoins
3 Best Altcoins Smart Money is Buying This Weekend
Bitcoin drops to close the week in the red with major altcoins like Ethereum (ETH), ZKsync (ZK), XRP, Dogecoin (DOGE) and more. A bullish outcome seemed possible earlier, potentially supported by the American PCE data.
However, bears should manage to get their way, which could trigger a prolonged wave of selling. Nevertheless, in this bearish chaos, opportunities are hiding in plain sight.
Investors face the challenge of sifting through the noise to land on the gems with potential. On the bright side, the team at CoinGape often lists the best altcoins to buy which can serve as a starting point for investors. Further research into these projects is needed to ensure money is invested prudently.
1. Best Altcoins to Buy: Dogecoin
Although signs of a recovery have yet to fully manifest, Dogecoin price is holding above multi-month support and forming a reversal pattern, indicating significant rebound potential.
During the June market correction, the Dogecoin Price experienced a significant decline from a high of $0.165 to a low of $0.113, a loss of 31.6%. Despite this pullback, 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 actively resonates within two trendlines, trying to regain momentum for the dominant trends in accordance with the theory. Dogecoin price is currently trading at $0.127 with an intraday gain of 0.22%, while the market cap stands at $18.4 billion.
With the sense of relief in the crypto market, the DOGE the price attempts to break the immediate resistance at $0.129, coinciding with the close of the 200D EMA. A successful breach could send the asset up 10% before challenging the key downside resistance of the flag pattern.
2. XRP
XRP holders are optimistic that the token held up by a long-running lawsuit between Ripple, the issuing company, and the Securities and Exchange Commission (SEC), could eventually explode toward a new relief reaching $10.
The case, filed in December 2020, finally reached the trial stage, with the SEC reducing its initial penalty proposal from $2 billion to $102.6 million. Ripple’s lawyers had offered $10 million, just under 10% of the regulator’s new figure.
As for investors, an XRP ETF would give the token more legitimacy as a cryptocurrency, along with Bitcoin and Ethereum. VanEck filed a request Solana ETF Thursday, raising the stakes for larger altcoins including XRP, Cardano and Dogecoin.
XRP Price Chart | Tradingview
XRP’s rally to $10 would depend on the overall market sentiment, increased demand, and investor FOMO. It could also take more time to achieve this incredible feat.
XRP’s rebound is expected to accelerate as the relative strength index (RSI) rebounds from the oversold region. Traders would confirm the uptrend after the RSI crossed the descending trendline and the price climbed above the $0.5 resistance.
3. GameStop
GME Token has increased by 26% over the past week, driven by momentum in meme-based cryptocurrency markets. The token is fluctuating between $0.0066 and $0.0093, showing bullish trends.
From a monthly perspective, GameStop soared over 85%, peaking at an all-time high of $0.03207 on June 7. After a brief decline, it is now on the path to recovery. This resurgence coincides with the return of Roaring kittenalso known as Keith Gill, in early May.
His influence has played a significant role in the token’s recent performance, alongside dramatic gains in GameStop shares, which nearly doubled in pre-market trading following his activity.
GameStop Price Prediction
GME is about to break through 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 shortly, or even $1 in a subsequent bull cycle.
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