Bitcoin’s surge above $65,000 today triggered a 5% notable increase in the total crypto market value to $2.47 trillion. This bullish move comes after weeks of uncertainties and losses, especially among major digital assets like Ethereum (ETH), Binance Coin (BNB), Solana (SOL), XRP, and more. Meanwhile, as BTC makes the much-awaited return to health, tech-savvy investors consider 3 altcoins to buy including Terra Classic (LUNC), dogwifhat (WIF), and Floki.
Are These Altcoins To Buy Going To Rally In 2024
Bitcoin halving in April 2024 put the crypto market on the path to a parabolic rally. However, weeks after the historical event, Bitcoin is still playing doldrums with little to no signs of a major run incoming.
Investors are on the edge, especially the people who zeroed in on altcoins to buy in Q1 as BTC exploded to a new all-time high. Many weak hands are shaken out of their positions during times of uncertainty.
However, tech-savvy investors understand the psychology of the market after studying historical price movements, especially those hinged on Bitcoin halving. The impact of this event starts several months after the actual date, often due to the gradual reduction in supply and increase in demand for BTC.
Having Bitcoin is paramount for most portfolios. However, tech-savvy investors consider altcoins to buy with the potential to give over 50x return during bull markets. Such value can then be ploughed back into Bitcoin ensuring the long-term value of crypto holdings is retained and sustained.
1. Top Altcoins To Buy – Terra Classic (LUNC)
Based on the prevailing technical structure, the LUNC price prediction affirms a potentially massive bullish outcome in May and the upcoming months.
Terra Classic price has fiercely defended support at $0.0001 as shown on the daily chart. A recovery from this level is gaining strength, with LUNC expected to breach resistance at $0.0001060, highlighted by the 20-day Exponential Moving Average (EMA) (the blue line overlaying the chart).
The Relative Strength Index (RSI) position at 45 and its potential for recovery above the midline, reinforces the growing bullish grip. Should the RSI breach the descending trendline resistance, it could ignite a fire in LUNC paving the way for gains beyond $0.001.
On the upside, a break above the dotted trending might catapult LUNC 66% higher, marking the validation of the double-bottom pattern.
2. Dogwifhat (WIF)
Over the past week, the digital currency WIF has experienced significant price volatility, ranging from $3.30 to $2.70. These fluctuations highlight the inherent unpredictability of digital assets. Notably, WIF saw a rise of over 4% as it entered a bearish phase today.
Since the Solana-based meme coin hit an all-time high of $4.85 on March 31st, bullish and bearish phases have alternated rapidly, reflecting the speculative nature of meme coins and their sensitivity to market sentiment. Despite the recent bearish WIF price, there was a notable surge of 4% over the past month.
A bullish resurgence could see Dogwifhat break the $3.10 resistance level. This breakthrough could propel the value toward a new peak of $4 and potentially to the $5 resistance level.
3. Floki
Amid the post-Bitcoin Halving consolidation, a majority of major cryptocurrencies, including FLOKI coin entered a sideways trend since April 19th. This meme coin in consolidation has been capped within $0.000202 and $0.000127 horizontal levels.,m
However, a look at the daily chart shows the FLOKI price developed fresh higher lows signals the buyers attempt to regain control and actively accumulate at dips. Connecting those lows with a support trend revealed the formation of an ascending triangle pattern.
In theory, this chary setup indicates the building of bullish momentum which is released with the breakout of neckline resistance. If the breakout sustains, the FLOKI coin raises its value to $0.00026 followed by $0.000031.
The post Tech-Savvy Investors Bet On 3 Altcoins To Buy In May For 50X Profit appeared first on CoinGape.
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