Tech
Tech-savvy investors bet on 3 Altcoins to buy in May for 50X profit
Bitcoin’s surge above $65,000 today triggered a notable 5% increase in the total cryptocurrency market value to $2.47 trillion. This bullish move comes after weeks of uncertainty and losses, especially among major digital assets such as Ethereum (ETH)Binance Coin (BNB), Solana (SOL), XRP and more. In the meantime, how Bitcoin makes long-awaited return to health, tech-savvy investors consider 3 Altcoins to buy including Terra Classic (LUNC), dogwifhat (WIF) and Floki.
These altcoins to buy will gather in 2024
Bitcoin halving in April 2024 put the cryptocurrency market on the path to a parabolic rally. However, weeks after the historic event, Bitcoin is still in the doldrums with little to no sign of a major run coming.
Investors are on edge, especially those who focused on altcoins to buy in the first quarter as BTC exploded to a new all-time high. Many weak hands are shaken from their positions during times of uncertainty.
However, tech-savvy investors understand the psychology of the market after studying historical price movements, especially those related to the Bitcoin halving. The impact of this event begins several months after the effective date, often due to the gradual reduction in supply and increase in demand for BTC.
Having Bitcoin is essential for most wallets. However, tech-savvy investors consider altcoins to buy with the potential to give more than 50x returns during bull markets. This value can then be reinvested in Bitcoin ensuring that the long-term value of the crypto holdings is maintained and sustained.
1. Best Altcoins to Buy – Terra Classic (LUNC)
Based on the prevailing technical structure, the LUNC price forecast affirms a potentially massive bullish outcome in May and the coming months.
Price Terra Classic fiercely defended the support at $0.0001 as shown on the daily chart. A recovery from this level is gaining strength, with LUNC expected to break above the resistance at $0.0001060 highlighted by the 20-day exponential moving average (EMA) (the blue line overlaid on the chart).
LUNC Price Prediction Chart | Tradingview
The position of the Relative Strength Index (RSI) at 45 and its recovery potential above the midline, strengthens the growing bullish hold. If the RSI breaks the descending trendline resistance, it could light a fire in the LUNC, paving the way for gains above $0.001.
On the upside, a break above the dotted trend could catapult LUNC higher by 66%, marking the validation of the double bottom pattern.
2. Dogwifhat (WIF)
Over the past week, the WIF digital currency has seen significant price volatility, ranging between $3.30 and $2.70. These fluctuations highlight the inherent unpredictability of digital assets. In particular, the WIF recorded an increase of over 4% having entered a bearish phase today.
Since Meme based on Solana The coin reached an all-time high of $4.85 on March 31, bullish and bearish phases alternated rapidly, reflecting the speculative nature of meme coins and their sensitivity to market sentiment. Despite the recent bearish price of WIF, there has been a notable 4% increase over the past month.
WIF Price Chart | CoinGecko
We could see a bullish recovery Dogwifhat break the $3.10 resistance level. This breakthrough could push the value towards a new high of $4 and potentially the $5 resistance level.
3. Floki
In the context of Bitcoin’s post-Halving consolidation, most major cryptocurrencies, including the FLOKI coin, have entered a sideways trend since April 19th. This consolidating meme coin has been limited within the $0.000202 and $0.000127 horizontal levels.,m
However, a look at the daily chart shows the FLOKI price the development of new higher lows signals that buyers attempt to regain control and actively accumulate at the lows. Connecting these lows with a supporting trend revealed the formation of an ascending triangle pattern.
In theory, this cautious setup indicates the building of bullish momentum that is released upon breaking the neckline resistance. If the breakout continues, FLOKI coin will increase its value to $0.00026 followed by $0.000031.
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