Markets
2 Unstoppable Altcoins to Buy Without Hesitation
Bull periods are periods that bring joy to all investors in the cryptocurrency market. However, for those who are on a limited budget, it may be difficult to choose which altcoins to buy to maximize profit. However, we at CoinGape are committed to helping investors jump-start their investment journey by pointing them in the right direction.
From the best underrated Based on artificial intelligence Crypto projects, meme coins and level 1 projects to the Solana ecosystem, there is something for everyone in the cryptocurrency industry.
That said, for investors with just $1,000 to spare and aiming for 5x to 10x returns, it would be advisable to stick to altcoins to buy that are backed by robust technologies, essential services, and vibrant communities.
Two altcoins to buy fall into this picture in June, including Ethena (ENA) and Notcoin (NOT). Although launched this year, both of these tokens boast strong community support amid their vastly expanding ecosystems.
- Ethena (ENA)
Second CoinMarketCap data, the current market capitalization is approximately $850 million. Around-the-clock trading volume for Ethena is said to be $64 million, reflecting a 12% decrease from the previous period. This metric indicates the overall activity and liquidity of the token in the market.
Ethena price chart
Meanwhile, Ethena has recently shown a bearish trend, with its value dropping below the crucial $0.63 mark, signaling a bearish phase. Recent price fluctuations among major alternative coins reflect mixed market sentiments.
A tug of war between bearish and bullish forces is evident, with bearish forces currently dominant. This is underlined by a notable drop in the ENA value. Over the past week and month, ENA has fallen by 11% and 38%, respectively, highlighting the bearish trend influencing the cryptocurrency market.
Ethena is currently in a bearish trend. If the market strength remains insufficient, its value could weaken further. The cryptocurrency could drop to its support level around $0.56. Persistent bearish pressure could deepen the decline, potentially dropping to a lower support level near $0.5 in the near future.
On the other hand, if the bulls can break above the $0.57 resistance, an upside momentum is likely. This surge could push Ethena towards testing a significant resistance at $1. With continued bullish pressure, Ethena price could rise to $2 in the next rally.
2. Notcoin (NOT)
Not money is making great strides in the cryptocurrency, recently surpassing the critical value threshold of $0.01543. This price surge is turning heads, especially with the potential for further growth in tandem with Bitcoin’s upward trajectory.
Notably, Notcoin reached an all-time high of $0.02896 on June 2, 2024, after hitting a low of $0.004605 just a few days earlier on May 24, 2024.
Notcoin Price Chart
If the uptrend continues, Not the price in coin could soon challenge its resistance level, currently set at $0.016. The rise of this digital currency could push its value to $0.05, potentially reaching $1 by the end of the month.
Conversely, a decline in market sentiment could force Notcoin to retreat to a support level around $0.015. If this negative trend persists, the price could drop to around $0.014, signaling a bearish phase for the currency.
Bottom line
This might be the best way to invest in these 2 altcoins: Ethena and Notcoin considering that they are heavily discounted from their all-time highs. However, due diligence is needed as the cryptocurrency market tends to be volatile.
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