Investors in the cryptocurrency market seem stuck between a rock and a hard place. On one hand, the market shows weakness after Bitcoin halving, signaling an upcoming sell-off, on the other hand, a long-term bullish outlook is likely forming. The latter end of the bargain is one of the factors keeping investors steadily holding onto their positions. Whether a crypto portfolio is as small as $1,000 or as big as $1, it is essential to consider the most potential crypto to buy including tokens like Lido DAO (LDO) and Panda Swap (PANDA).
According to most experts in the industry, the ongoing market doldrums are expected after Bitcoin halving. This is the time for investors to rebalance their portfolios by selling some coins, and seeking more exposure on other tokens while holding onto the select crypto to buy assets.
1. Lido DAO (LDO)
Over the past two weeks, the Lido DAO coin price traded sideways struggling to surpass the $2.175 resistance amid Bitcoin’s post-halving correction. The notable price swings in daily charts extending laterally indicate no clear dominance from buyers or sellers. However, this altcoin sitting at a crucial yearly support indicates the buyers have a better potential to retake trend control and initiate a fresh rally.
Under the influence of a downsloping trendline, the Lido Dao coin has witnessed a steady correction in the last two months. This bearish turnaround plunged the altcoin from $3.64 to its current trading price of $2, accounting for a 43% loss.
If the demand pressure at the lower trendline is intact, the LDO price could break above $2.175 as an initial sign of reversal. However, the buyers would need to break out from the overhead trendline to build sufficient momentum to lead a rally beyond $3.
2. Panda Swap (PANDA)
The digital currency PANDA currently boasts a market capitalization of $9 million, securing its position among the top 1111 cryptocurrencies listed on CoinMarketCap. Recently, Panda has seen its trading volume soar by 260%, reaching $4.28 million in the past day. This significant increase in trading activity suggests that traders are actively engaging with the coin’s volatility to optimize their market strategies.
The integration of PANDA into various DEXs is a significant step forward in bolstering its visibility and stature within the digital currency sphere. By adopting an automated market maker (AMM) model that features a centralized limit order book, PANDA ensures swift transactions and consistent liquidity.
This setup is also appealing to those interested in yield farming opportunities. The strong, active community around PANDA has been crucial to its growth and the recent uptick in its market price.
PANDA now encounters a critical resistance level at $0.015. This price point is pivotal for maintaining its upward trajectory, with potential sights set on the $0.02 mark if bullish momentum persists. Conversely, If bearish trends reemerge, the token could dip back to the $0.011 support level.
Technical indicators further bolster the positive outlook for Panda’s price. The Moving Average Convergence Divergence (MACD) remains positive, with the MACD line positioned above the signal line on daily charts, highlighting bullish market conditions.
The Relative Strength Index (RSI) supports this bullish sentiment, standing at a robust 78.97. This figure lies just above the commonly recognized overbought threshold of 70, suggesting that the buying pressure remains strong.
The post 2 Crypto To Buy To Complete $1M Portfolio In May appeared first on CoinGape.
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