The current market scenario is shifting its sentiments from bearish to Bullish, leading the crypto to regain its price. As the market made an Upword correction, it is suggesting a buyzone for major altcoins. Which coins to buy now? This is a major point traders have in mind.
The month of June remained unfavorable for the Crypto market, leading major currencies like Bitcoin, and Ethereum to make a deep correction. Besides these cryptocurrencies, Altcoins like Solana, Dogwifhat, and Matic also experienced a significant Price drop.
Which Coins to Buy Now
Here are some of the coins that can perform outstanding based on the current market scenario.
- DogWifhat
- Solana
- Matic
- Pepe
DogWifhat
Ranked #47 among all cryptocurrencies, WIF is the hottest coin among Altcoins. WIF is currently trading at the $2.04 mark while making a deep correction to the $1.52 mark according to CoinMarketCap data. After witnessing a drop in its price, Wif quickly climbed back and tried to regain its momentum.
The technical indicators are not in favor of the coin, and while considering a 4-hour graph chart, the 50-day moving average is showing a declining trend. The same is reflected in a 200-day moving average.
The RSI indicator is between 30-70, indicating a neutral zone. At this point, the price of digital assets can shift to any side, either climbing to $3 or dropping below the $2 mark.
Solana
A famous meme coin, based on the Solana blockchain, and popular for fast transactions and low fee structure. SOL is ranked #5 in the crypto market with a trading volume of #1.4 billion and a market cap of #62.7 billion.
Sol closed the previous month at $165, and after that, a continuous price drop is seen in the chart. At the time of writing, Solana is trading for $135, down by 1.02% in a weekly chart and 1.47% down in the last 24 hours, as per CoinMarketCap data
While considering a 4-hour graph, the 50-day moving average is sloping downward, and the 200-day moving average is also indicating a weak trend. The RSI is between30-70,0 indicating a neutral zone.
As per analysts’ view, the current market scenario is driving Sol to stay $150 mark however, the previous price history of this coin is outstanding. The coin can be bought if the price crosses the $140 mark.
Polygon Matic
Matic is based on the Ethereum blockchain and is ranked #19 in the crypto world with a trading volume of $183 million and a market cap of $5.4 billion. After hitting an all-time high of $1.2 in mid-March, Matict experienced a continuous price drop and reached $0.5 as per CoinMarketCap data.
Polygon Matic is down by 2% in the last 24 hours and by 7.34% down during the week.
While doing technical analysis, Matich is showing a downward slope in the 50-day moving average, however, the 200-day moving average indicates a slight upward slope. The RSI indicator is between 40-70 indicating a moderate trend.
As the current market sentiments are not in favor of crypto, multiple analysts give predictions on Matic, concluding that if BTC crosses the $65K mark, a new high can be seen from the Matic coin.
PEPE
PEPE, a deflationary meme coin launched on Ethereum, distinguishes itself in the meme coin market by leveraging the legacy of Pepe the Frog, a character with a complex and controversial history. The coin’s burning mechanism underscores its uniqueness, designed to preserve scarcity in the market.
It is ranked #23 among the cryptocurrencies. Pepe is also affected by the declining trend of the crypto market and witnessed a drop of 2.84% in the last 24 hours however, it is up by 2.64% in the last seven days.
PEPE is trading at $0.0000122 price with a market cap of 5.13 billion and a trading volume of $563.88M as per CoinMarketCap data
Pepe closed the last month at $0.00001512 and still struggling to reach that point again. The approval of Ethereum ETF may affect all Ethereum-based coins to boost their price as it will be one step forward to boost Ethereum.
The technical indicators suggest that in a 50-day moving average, the coin is making an upward trajectory and the same is concluded in a 200-day moving average. The RSI indicator is at 60, indicating a buy zone for this meme coin.
Conclusion: Which coin to buy now? As per the market analysis and by considering expert opinion these coins have mostly performed well after they witness the price drop. These coins can be considered for long-term investment.
Disclaimer: The information provided above is based on individual analysis and cannot be considered financial advice. Crypto is a high-risk asset please DYOR before investing.
