Altcoins Trading Below $1: TRX, SEI, and ALGO,
The cryptocurrency market is evolving each year. Investors are consistently looking beyond Bitcoin and Ethereum to discover hidden gems in the vast stack of altcoins. One particular trend that caught crypto enthusiasts’ attention was the emergence of promising altcoins trading below $1. They could offer the potential for significant growth in the near future.
Tron (TRX) Looks Primed for Growth Ahead
A weekly basis analysis of Tron (TRX) crypto reveals an impressive price structure. The recent price action highlights the breakout of the symmetrical triangle upwards.
The crypto asset ranked 12th on the CoinMarketCap at press time. It has unlocked 100% circulation from a total supply of $87.207 billion in TRX.
After the consolidation ended in Feb 2021, the Tron (TRX) jumped 550% by April 2024, which marked a great push for the upside from bulls. After seamless efforts by bears, the bulls did not allow the price to go below $0.050 critical support. They had been trying to surpass the previously formed supply at $0.1439.
SEI Approaching Crucial Support Could Be a Resurgence Spot!
The SEI crypto price has been nearing the resistance, formed support of $0.30 after failing to surpass the $1.0 all-time high level in mid-March 2024, on the weekly timeframe.
The 68th-ranked crypto on CoinMarketCap has a total market cap of $1.039 Billion. It has 30% of SEI in circulation out of the 100% total supply of 10 Billion.
ALGO Circulation Has Crossed 80% of the Total Supply!
Ranked 65th on CoinMarketCap at press time, ALGO touched its all-time high in November 2021, and thereon, it consistently plummeted and formed support at $0.08350 by Aug 2023 on the weekly chart.
The bears could not force the ALGO price to plummet. The bulls got the upper hand, which caused the price to rise from a low to $0.3300 by March 2024 and then fall back to the support price of $0.13500.
