If you're new to the crypto market and feeling lost in what you should invest in, this article is for you, Just a tip: always #DYOR*
Bitcoin (BTC)
First up is Bitcoin (BTC). As of now, Bitcoin is preparing to break its all-time high, which is around $73,000. If it successfully breaks this resistance, we could see a new historical high, potentially reaching $80,000 to $100,000. Bitcoin has been making higher highs and higher lows since April 30, 2024, maintaining support above $68,000. This consistent upward trend indicates that Bitcoin might soon explode in price, dragging the altcoins along with it.
Ethereum (ETH)
Next, Ethereum (ETH) recently experienced a strong upward movement, building support around $3,200. Ethereum is trying to consolidate a new support level and if it succeeds, it could break above $3,800, potentially reaching $4,000. The intersection of short- and long-term moving averages indicates a bullish trend, suggesting that Ethereum is ready for a significant price hike.
Binance Coin (BNB)
BNB has been performing well, partly due to the increasing investments through Binance Launchpool and MegaDrops. These initiatives are driving more users and liquidity to the platform, thereby boosting BNB's value. BNB is currently holding strong support levels and could break through to new highs if the broader market conditions remain favorable.
Near Protocol (NEAR)
Near Protocol (NEAR) is another promising candidate. It recently dropped to test support around $7.00 but is now showing signs of a strong recovery. Given its smaller market size, NEAR has the potential for higher percentage gains compared to Bitcoin and Ethereum. A successful bounce from this support could see NEAR doubling in value, reaching up to $14.
Toncoin (TON)
Toncoin (TON), associated with Telegram, has been surprising investors with its recent performance. It has established support at $6.40 and is attempting to form a new bullish trend. If Toncoin can maintain its current momentum and break past $7.50, we could see a significant price rise. Setting a stop loss below key support levels ensures you minimize potential losses while capitalizing on upward movements.
Dogecoin (DOGE) and Shiba Inu (SHIB)
Dogecoin (DOGE), the meme sensation, has been maintaining its price above its short-term moving averages. Despite not yet forming a definitive top, DOGE continues to show a bullish trend. As long as it remains above these averages, Dogecoin could see substantial gains.
Shiba Inu (SHIB) With a strong community and ongoing developments in its ecosystem, SHIB has the potential for significant upside. Recent price action indicates that SHIB is attempting to break out of its current consolidation phase. If successful, it could see a notable price increase, making it an exciting prospect for short-term gains.
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