Markets Dip Into the Red — Best Altcoins to Buy Now With Altseason Still on the Horizon
Cryptocurrency markets are experiencing a downturn, casting a red hue over the charts. Yet, amid the decline, certain altcoins show promise for future gains. With altseason anticipation building, there are specific digital assets poised for growth. This article reveals the top altcoins to consider now, positioning for a potential rebound when the market sentiment shifts.
Ethena (ENA) Shows Potential Despite Recent Drop
Source: tradingview
Ethena (ENA) is trading between sixty and seventy-three cents right now. It has met resistance around eighty-two cents but finds support at fifty-five cents. Even with a twelve percent dip over the past week, ENA has grown almost fifty-eight percent in the last six months, showing strong potential. If ENA breaks the current resistance level, it could climb to ninety-five cents, offering an increase of over thirty percent from its current upper range. Indicators like moving averages suggest stability, and a healthy RSI signals room for growth. Despite the ups and downs, ENA looks promising for future gains.
Pi Network Shows Signs of Stability Amid Market Challenges
Source: tradingview
Pi Network's price hovers between 34 and 36 cents, showing slight stability despite a turbulent market. The coin recently faced a dip, experiencing over a 24% drop in the last week and over a 65% decrease in six months. However, its Relative Strength Index suggests it's not oversold. If the price pushes past the near resistance at 37 cents, it could aim for 39 cents, marking an increase of about 8%. Nevertheless, the coin finds immediate support at 33 cents. It trades above its simple moving averages, indicating potential support for gradual growth if market sentiment improves. The Pi Network community remains hopeful that stability will usher in an upward trend.
Uniswap (UNI) Eyes Rebound Despite Recent Dip
Source: tradingview
Uniswap (UNI) has recently been trading between $8.82 and $9.52. The coin has faced some challenges, with its price dropping about 18% over the last week and nearly 24% in the past month. However, it still shows a positive trend over the last six months with an increase of 28%. Currently, the nearest resistance level is just shy of $10, while support holds around $8.57. If momentum gathers, UNI might aim for the second resistance level at $10.68, marking a potential growth of around 15% from its current highs. Investors are watching closely, as this could set the stage for a significant rally if the market sentiment improves.
Conclusion
The market shows signs of a downward trend, but opportunities remain. ENA, PI, and UNI are strong candidates for investment. These altcoins offer potential for growth as market conditions improve. Investing in them now could be beneficial when the market rebounds.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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