In some previous weeks, the crypto market has seen a major downtrend, leading to a significant drop in major coins—the Mt. Gox creditor payment of almost $1.5 billion in Bitcoin impacted the market the most.
Now the market is back in its recovery phase, signaling a buying zone for multiple coins down from their highest point, after hitting the lowest of $54.5K bitcoin is trading positively at $58.7K with a 3.49% gain in the last 24 hours.
Altcoins like Matic, Cardano, Ripple, and Bitcoin Cash are also trading positively by attracting funds in their pools, Discover the best coin to buy now for a strong future portfolio
Best Coin to Buy
Here are some of the Best coin to buy that can be considered for a healthy portfolio in the future.
Polygon Matic
Launched in October 2017 on the Matic blockchain, which creates a multi-chain blockchain with Ethereum. It works on a proof-of-stake mechanism for processing on-chain transactions.
Polygon Matic is famous for its low transaction fee structure and great efficiency while interpreting a transaction. It can process 7000 transactions in a second, making it one of the fastest blockchains in the crypto ecosystem.
Matic is ranked number 21 among all the cryptocurrencies, with a market cap of $5.1 billion and a 24-hour trading volume of $155 million. After dropping its price to $0.4, the token got back into the recovery phase and now trading at $0.51 as per CoinMarketCap data.
The current RSI of Matic is 52, indicating a buying zone as most users are investing in the coin. The 50-day moving average is sloping upward indicating a strong trend of a token and the same trend is indicated in the 200-day moving average.
In the bullish scenario, the key resistance level is $0.60, $0.65, and $0.68. If the token crosses its major support levels it can aim for a $1 mark.
In a bearish scenario, If the price of the token drops below $0.43 it can make a deep correction of $0.40.
Cardano
Cardano experienced a major price surge in the last 2 hours, seeing a bullish momentum in the market. It is trading at a mark of $0.42, with a market cap of $15 billion, and raked as a number 10 coin in the crypto world.
In the last few weeks, ADA experienced a significant price drop by trading between $0.35 to $0.42 due to the highly volatile market. According to the data published by Into The Block only on July 8, and 9 ADA hit 110 million transactions.
If bullish traders take control, Cardano’s price could smash the $0.45 resistance level. This could boost the token by pushing it towards the $0.5 mark. With sustained bullish momentum, ADA might even reach the $1 milestone in the next market rally.
In a bearish scenario, the token can drop its price if it crosses the key support level of $0.42 and reaches the mark of $0.4.
Ripple
Ripple holds the number 7 rank among cryptocurrencies while making an upward trend with a market cap of $28 billion and a trading volume of $1.8 billion.
XRP reached its all-time high of $3.92 on January 4, 2018, and its all-time low of $0.002802 on July 7, 2014. Since peaking, its lowest price was $0.113268, and its highest price was $1.97793.
Currently, the sentiment for XRP price prediction is neutral, with the Fear & Greed Index at 25.
The recent rumors about the XRP and SEC case conclusion boosted its market dramatically, making a 9.5% spike in its price.
While talking about the technical indicators, XRP RSI is indicating 79.2 which reflects an overbought scenario.
The 50-day moving average is sloping upward indicating a strong market trend and investors’ interest in the token, and the same is reflected in the 200-day moving average. This suggests that the price of tokens can go further higher depending on the current market trend.
In case of a bearish trend, the key support levels for XRP are $0.50, $0.42, and $0.38. If the token cannot hold these support levels, it can make a major deep correlation.
