As an experienced analyst, I believe that for small budget investors seeking substantial returns in the crypto market during a bull run, it is essential to carefully consider altcoins backed by robust technologies, essential utilities, and vibrant communities. In June 2024, two such altcoins are Ethena (ENA) and Notcoin (NOT).
For individuals with limited investment budgets in the crypto market, selecting the optimal altcoins during bull runs to amplify profits can pose a challenge.
As a dedicated crypto investor, I’m always on the lookout for promising opportunities that can help boost my investment portfolio. At CoinGape, we share this passion and are committed to supporting newcomers in their investment journey. From undervalued AI-driven cryptocurrency projects and meme coins to potential layer 1 gems, and the vast Solana ecosystem, our team is dedicated to uncovering a diverse range of investments tailored for various investor profiles.
As a crypto investor with a budget of just $1,000 and aiming for profits between five-fold and ten-fold returns, I’d recommend focusing on altcoins that are supported by strong technological foundations, offer essential utilities, and have active and engaged communities. By doing so, you increase the chances of investing in projects with significant growth potential.
In the realm of cryptocurrencies, two noteworthy altcoins emerged as promising investments in June: Ethana (ENA) and Notcoin (NOT). Despite their relatively recent inception this year, they have gained significant traction due to their robust community support and rapidly expanding ecosystems.
- Ethena (ENA)
Based on information from CoinMarketCap, the present market value is around $850 million. The trading volume for Ethana over the past 24 hours is stated to be approximately $64 million, representing a 12% decrease in comparison to the preceding period. This figure represents the overall market activity and liquidity of the token.
Lately, Ethena’s value has been declining, dropping beneath the significant price point of $0.63. This shift indicates a bearish trend for the coin. The unpredictable price swings among leading altcoins illustrate conflicting market attitudes.
As a crypto investor, I’ve noticed a fierce battle between optimistic and pessimistic forces in the market, with the bearish camp currently holding the upper hand. This is clearly reflected in the downward trend of ENA‘s value. To be more specific, over the last week, ENA has seen a 11% decrease, while over the past month, its value has plummeted by an alarming 38%. These statistics underscore the bearish sentiment that’s been sweeping through the crypto market lately.
currently, Ethena is showing signs of a downturn in the market. If the market fails to regain strength, its value may decrease even more. The cryptocurrency might slide down to its support level of roughly $0.56. Prolonged bearish pressure could lead to a steeper decline, potentially reaching a lower support level around $0.5 in the near term.
From a contrary perspective, if bulls manage to break through the $0.57 barrier, it’s probable that Ethena will experience a strong uptrend. This upward thrust could potentially lead Ethena to challenge significant resistance at $1. If the bullish pressure persists, Ethena’s price may even reach as high as $2 during the upcoming rally.
2. Notcoin (NOT)
As a cryptocurrency analyst, I’m observing an impressive advancement in Notcoin’s value. It has recently breached the significant barrier of $0.01543. This price surge is generating considerable attention, given the possibility of additional growth that could mirror Bitcoin‘s upward trend.
As a researcher studying the cryptocurrency market, I’ve noticed an intriguing trend with Notcoin. On June 2, 2024, this digital currency hit its peak value of $0.02896. This was quite a remarkable turnaround as it had only recently plummeted to its lowest point of $0.004605 on May 24, 2024.
As an analyst, if the bullish trend persists for Notcoin, I anticipate that its resistance level, presently set at $0.016, may be breached imminently. The upward trajectory of this digital currency could potentially push its value to reach $0.05 within the month. With continued momentum, there’s a possibility that Notcoin’s price might even surge towards the significant milestone of $1 by the month’s end.
In contrast, if the market mood turns sour, Notcoin could be pulled back towards the support level of about $0.015. Should this downward trend continue, the price might slide further to around $0.014, suggesting a bearish trend for the cryptocurrency.
Bottom Line
Considering their significant price drops from their all-time highs, investing in Ethena and Notcoin could potentially yield good returns. Nevertheless, exercise caution as the cryptocurrency market is known for its volatility. Thorough research is essential before making an investment decision.
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2024-06-27 22:02