As a seasoned crypto investor with a few battle scars from past market cycles, I can’t help but feel a sense of excitement as Bitcoin tapped $70,000 once again. However, the approval of Ethereum ETFs and the subsequent hype have subsided, leaving us in a period of sideways trading. But fear not, fellow investors, for there are still opportunities to maximize returns during this bull market of 2024.
As a researcher studying the cryptocurrency market, I’ve observed that Bitcoin reached an all-time high of $70,000 on Monday following a week of relatively quiet price action. The excitement surrounding the approval of Ethereum Exchange Traded Funds (ETFs) began to wane, resulting in a pullback for both Bitcoin and Ethereum. Bitcoin tested the support level at $67,000 while Ethereum bounced back from $3,700 to trade around $67,300 and $3,830. Despite the seemingly uneventful trading activity, there are still valuable opportunities for investors to capitalize on during the ongoing bull market of 2024. In light of this, I’d like to bring your attention to a few expert-recommended altcoins worth considering: Notcoin (NOT), Pepe, BOME, and Kaspa.
1. Altcoins To Buy – Notcoin (NOT)
During Monday’s American trading sessions, Notcoin’s price remained stable at approximately $0.02143, marking a significant 200% surge over the previous week. A vast majority, around 90%, of CoinGecko users have expressed optimistic views towards Notcoin, whereas only a small fraction, 10%, hold pessimistic opinions.
According to the latest technical analysis, Notcoin’s price is currently surging well above its 50-day and 200-day simple moving averages, signaling a bullish trend for potential investors. At present, the price has pulled back slightly to touch the $0.021 mark, which corresponds to the 0.5 Fibonacci retracement level. This significant retracement point frequently acts as a support base for assets undergoing price exploration.
If we experience a price reversal at this stage, the 0.27 Fibonacci extension level, approximately $0.034, may not be reached by the price. Subsequently, the price movement would trail about 7% behind the previous record high.
The price of NOT, the popular Tap-to-Earn meme coin, has been making significant strides, pushing its way into the top 100 rankings on CoinGecko. Currently sitting at number 58, NOT has climbed an impressive 42 positions in just the past week. As it continues to rise, potential resistance levels for NOT may appear around $0.032, $0.043, and $0.057.
2. Pepe (PEPE)
As an analyst, I’ve observed a remarkable 99% increase in the value of Pepe, the meme coin, within the last month. The cause behind this growth can be attributed to escalating investor attention and a string of advantageous market developments. Consequently, Pepe reached its record high of $0.00001718 on May 27th. This upward trend is primarily fueled by a surge in other meme coins, favorable market circumstances, and heightened anticipation among traders.
Investor sentiment towards cryptocurrencies is generally hopeful but tempered, as the wider crypto market displays promising indications of resilience and revival.
At present, the pivotal resistance level for Pepe lies at $0.000016. Overcoming this hurdle may propel its value to $0.000019. If the positive trend persists, the price of Pepe could ascend to $0.00003 by the end of June. Should bullish forces intensify, the meme coin might surge towards $0.00005 during the subsequent bull market phase.
3. Book of Meme
As an analyst, I’ve noticed that, similar to many prominent altcoins, BOME experienced a rebound following a healthy retracement based on the Fibonacci retracement levels. Specifically, after bouncing back from the 38.2% FIB level, the price saw a jump of approximately 1.4%, reaching a current trade value of $0.013. However, I cannot definitively predict whether BOME’s price will exceed $0.02 in June. The cryptocurrency market is inherently volatile and subject to various external factors, making it uncertain to determine future price movements with absolute certainty.
Despite the ongoing market convergence, BOME’s price took a downturn following its peak at $0.016 the previous week. This bearish shift caused the asset to decline by approximately 20%, reaching a bottom at $0.0127.
As an analyst, I’ve noticed that the sideways price action of this meme coin has kept it on track to reach the ascending support trendline that has been in place since the second week of April. The current recovery momentum is evident in the dynamic support, suggesting that buyers are actively accumulating this asset during market dips.
“This support could revive waning demand and encourage buyers to attempt retaking the $0.016 peak once again. With consistent buying power, the Book of Meme token might aim for a potential price of $0.0186, and later potentially reach $0.0248.”
4. Altcoins To Buy Kaspa (KAS)
As a crypto investor, I’m excited about Kaspa (KAS) because it’s a project dedicated to providing a robust, scalable, and secure blockchain solution. What sets Kaspa apart is its innovative use of the GhostDAG protocol. Compared to traditional blockchains, this technology enables faster block times and greater transaction throughput, making it an attractive option for those seeking improved efficiency in their cryptocurrency investments.
Starting from May’s commencement, the value of KAS coin has witnessed a substantial upswing. Its price has climbed from $0.10 to $0.149, which represents a noteworthy jump of 48%. Furthermore, its market capitalization has expanded impressively to reach a value of $3.552 billion.
If the price breaks through this resistance level, it could be a sign of a significant trend reversal. Buyers may then become more confident and pursue buying opportunities at $0.19, with further targets potentially emerging at $0.22.
Bottom Line
As a dedicated crypto investor, I understand that the most challenging part of reaping rewards in this market is pinpointing the right altcoins to invest in and entering at the opportune moments. At times, this may involve purchasing during a downtrend, close to the bottom. On other occasions, it’s essential to hop aboard before takeoff. For instance, investors who bought NOT and GME prior to their breakouts are now reaping significant profits.
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2024-06-03 21:15