Two Ultimate Budget Altcoins To Buy For $500

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As an experienced analyst, I believe that the current downturn in the crypto market presents a unique opportunity for investors to buy altcoins at heavily discounted prices. Two promising altcoins that stand out are Notcoin (NOT) and ZkSync (ZK).

As a crypto investor, I’ve noticed a significant drop in value across the board since last week’s downturn. According to CoinGecko data, the total market capitalization has plummeted from $2.8 trillion on June 5 to $2.44 trillion as of now. Even Bitcoin, which was showing potential signs of a rally towards $70,000, couldn’t escape the bearish trend that swept through the market. Sadly, even altcoins that seemed like promising buys in June were not spared from this sell-off.

In simpler terms, the largest cryptocurrency is currently valued below $64,000 due to growing concerns it may further decline to $63,000. Meanwhile, Ethereum, Solana, XRP, and other cryptos display troubled technical indicators. Nevertheless, two notable alternative coins present promising opportunities for recovery.

For investors with a limited budget of $500, consider exploring the following two altcoins with promising prospects: Notcoin (NOT) and ZkSync (ZK). These tokens present attractive discounts relative to their peak prices and exhibit signs of potential for robust bullish rallies.

1. Top Altcoins To Buy: Notcoin

Over the last seven days, the value of Notcoin has dropped by over 4%, hinting at a growing pessimism among investors and a possible bearish trend. The price of NOT has been moving downwards with a fluctuating range between $0.015 and $0.021.

Over the past month, the token has shown a steady upward trend, accumulating around a 130% increase in value.

As a crypto investor, I’ve noticed that Notcoin is exhibiting significant downward trend momentum in this bearish market. Should the market sentiment change and intensify further, I believe Notcoin’s value could potentially find some support around the $0.015 mark.

Two Ultimate Budget Altcoins To Buy For $500

As a researcher studying the trends of Notcoin, I would caution that if the market conditions persist negatively, the price could potentially dip down to around $0.012. This ominous sign underscores a more pessimistic perspective for Notcoin. Should bearish forces grow stronger, there’s a possibility that Notcoin may even descend to $0.01.

If the positive outlook for Notcoin intensifies, it may soon experience a bullish run. The coin could surmount the current resistance at $0.019 if the current trend persists. Its upward momentum implies that its value is approaching the $0.02 threshold and might even reach $0.05 in the near term.

As a financial analyst, I’d interpret the recent development in the Relative Strength Index (RSI) as an intriguing sign. The RSI, which now stands at 27, has dipped into the oversold territory – a region where the asset might be undervalued based on its recent price action. Alternatively, this could also indicate that the sell-off has been overly aggressive and may soon exhaust itself, potentially leading to a price rebound.

2. ZkSync (ZK)

In the past week, zkSync’s price has dropped around 23%, reaching a low of $0.19 and a high of $0.3. This decrease is an extension of a larger trend that has impacted zkSync prices over the last month, resulting in a decline of approximately 22%.

Two Ultimate Budget Altcoins To Buy For $500

ZkSync, freshly introduced on Binance, has encountered a slump in performance. This setback ensued after investors raised concerns over the platform’s initial distribution of ZK tokens through an airdrop. In response, Binance initiated a token distribution program to ease community anxieties, but the value of the ZK token has since dropped post-launch.

On Tuesday, 18th June 2024, I noticed a slight drop of 1.37% in the overall cryptocurrency market, which resulted in a reduced market cap of approximately $2.37 trillion. Intriguingly enough, trading volume experienced a remarkable surge of 98%, amounting to around $96.47 billion. Among all the cryptos, ZkSync’s ZK token stood out as both the most trending and the biggest decliner that day.

As a researcher studying the cryptocurrency market trends, I’ve noticed that the bearish trend for ZK has been gaining strength, with the price approaching a significant support level at $0.21. If this downtrend continues, it could potentially lead to a decrease in zkSync’s valuation down to $0.2, which would indicate a notable change in investor sentiment towards the cryptocurrency. Further selling pressure might even push the price as low as $0.1 in the near term.

In contrast, a renewed burst of bullish energy could lift zkSync back up to $0.25. If buying power remains in control, ZK’s price might soar beyond $0.4, even touching $0.5 during the upcoming bull run. The zkSync market’s erratic and fluctuating nature is evident in these price swings.

Final Thoughts On Altcoins To Buy In June

It can be challenging to determine which altcoins to purchase when their prices dip. However, through careful analysis and well-timed investments, investors have the opportunity to capitalize on significantly reduced costs. Upcoming digital assets like Notcoin and ZkSync may contribute significantly to smaller crypto portfolios in 2024, especially during a potential bull market. Thorough research on these and other altcoins is essential for maximizing returns in the coming months.

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2024-06-18 21:16