3 cryptocurrencies to buy the dip before exploding 50X

In June 2024, the cryptocurrency market experienced a significant correction, with major digital assets such as Bitcoin plummeting from $71,000 to $64,000. This decline has influenced a broader downtrend among major cryptocurrencies, creating potential opportunities for investors to “buy the dip.”

The significant outflow of BTC spot ETFs reinforces the current sell-off in the market. Recent data from SpotOnChain, a leading on-chain data tracker, highlights a continued trend of net outflows from Bitcoin ETFs, signaling a cautious attitude among investors amid volatile market conditions. Starting June 21, 2024, Bitcoin ETFs recorded a significant net outflow of $106 million, contributing to a total weekly outflow of $545 million.

The net outflows extend throughout the trading week, accentuating a prevailing bearish sentiment in cryptocurrency markets.

Read also: Cryptocurrency Prices Today, June 22: Bitcoin Remains Bearish at $64,000, PEPE and AI Coins Soar

Cryptocurrencies to buy The Dip- Fetch.ai (FET)

Recover.ai (FET) is an innovative project that combines blockchain technology with artificial intelligence (AI) to create a decentralized digital economy. It aims to enable autonomous “agents” to perform tasks, optimize systems and facilitate efficient data exchange in a trustless environment.

Fetch.ai (FET)| Tradingview

Connected to the burgeoning field of artificial intelligence, Fetch.ai (FET) is poised for significant growth. Despite a recent market downturn that saw its price fall from $3.84 to $1.1 (a 68% drop), the coin’s trajectory within two parallel trend lines suggests the formation of a flag pattern bullish.

Recently, FET rebounded from the lower trendline, rising 37% to reach $1.50, while its market capitalization increased to $1.287 billion.

A potential breakout of the pattern’s overall trend line will signal a change in market sentiment. If the pattern holds, the FET price will lead to a prolonged rally to $40.

Read also: Could Japan’s Banking Crisis Trigger Another Bitcoin Rally? Arthur Hayes thinks so

2) TO HAVE

Aave is a decentralized financial protocol that allows users to lend and borrow cryptocurrencies without going through a traditional financial intermediary. In mid-March, this altcoin entered a new correction and collapsed from $145.8 to $79, registering a decline of 45%.

AAVE| Tradingview

According to coinmarketcap data, AVAVE The coin shows a market capitalization of $1,189, while the 24-hour trading volume is $85.8 million.

An analysis of the daily chart shows that this correction is part of a 27-month sideways trend governed by a symmetrical triangle pattern. Under the influence of this model, the AVAILABLE price he is ready to extend laterally before giving a decisive breakout.

Aave has consolidated its leading position in the decentralized finance (DeFi) sector, holding over 60% of the market share in on-chain lending. Earlier this week Satoshi Clubs shared that over $13 billion has been borrowed via on-chain lending protocols, with Aave leading the charge.

Therefore, a potential breakout from the triangle would signal a major trend reversal and chase the initial target of $660.

3) Notcoin (NOT)

Not money (NOT) is a token that initially gained traction through a viral Telegram game, effectively introducing many users to web3 through its “tap to earn” mining mechanic. Along with Toncoin’s growth, NOT price showed an aggressive rally in late May.

Notcoin (NOT)| Tradingview

However, with the recent market correction, the price of NOT collapsed from $0.029 to $0.0114 registering a loss of 50%. Notcoin currently holds a market capitalization of $1.5 billion, taking the position as the 56th largest crypto asset.

The current downward trend in NOT price it is driven by a descending trend line, maintaining a sell-off sentiment on rallies. For buyers to take control, a break above this resistance is essential.

A successful breakout will signal the continuation of the uptrend and push buyers to move above the $0.1 mark in the near term.

Key takeaway

As Bitcoin continues its correction trend into June, retail investors are feeling a sense of panic. However, it is important to note that Bitcoin is only 12% below its all-time high of $73,750. Historical patterns suggest that a 20-30% correction is common before an uptrend resumes. This scenario presents an opportunity for sidelined buyers to “buy the dip” of cryptocurrencies, positioning themselves advantageously ahead of a potential major market reversal.

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