After Heavy Sell-Offs, Top Coins Traders Add for Portfolio Reset
Crypto markets have faced a storm, with major sell-offs shaking the foundations. Now, savvy traders are making strategic moves, adding new assets to revive their portfolios. Which coins have caught their keen eyes and are poised for a comeback? Discover the insights and potential growth gems that could redefine investment strategies in this evolving landscape.
Solana Shows Potential Despite Recent Dips
Source: tradingview
Solana's price is fluctuating between about $68 and $106. The coin has seen a decline over the past month, falling nearly 41%, and about 55% in six months. However, there's optimism for an upward swing. If Solana breaks the current resistance level of $125, it might aim for the next at $163, which would be a significant jump. The RSI is moderately high, hinting at possible buying interest, and the coin is trading above the 100-day simple moving average. While the recent trend has been downward, the potential for growth, especially if it climbs back to resistance levels, remains strong.
Hedera's Price Holds Steady, Testing Resistance Levels
Source: tradingview
Hedera (HBAR) is currently priced between just over seven and ten cents. It hovers close to its nearest resistance at just above eleven cents. In the past week, its value jumped by nearly fourteen percent. While the past month saw a drop of over sixteen percent, the coin still shows potential. If it manages to break past the eleven-cent resistance, it could aim for nearly fourteen cents. This would mean a rise of about thirty-five percent from the current top price. However, there's crucial support at just over six cents, serving as a safety net. With indicators hinting at potential growth, eyes are on HBAR's next movement.
Algorand Price Bounces Back: Could It Reach New Highs Soon?
Source: tradingview
Algorand's price is moving between just over eight cents and nearly twelve cents. Recent growth is slow, with only a small weekly increase. But a look at the broader picture is less rosy, as it dropped by more than a quarter this past month and over sixty percent in half a year. The current price trades near the ten-day moving average, slightly above the hundred-day mark. The relative strength index shows Algorand is nearing overbought conditions at 70.88. Looking ahead, if momentum builds, it could push toward its first resistance just over twelve cents, marking more than a thirty percent rise. If confidence returns to the market, there's potential to reach around fifteen cents.
Conclusion
SOL, HBAR, and ALGO have emerged as popular choices among traders after the recent heavy sell-offs. These coins are seen as stable choices for a balanced portfolio reset. Their recent performance and adoption boost confidence among investors looking for solid returns. This trend reflects a strategic move by traders to diversify and strengthen their investments in promising cryptocurrencies.
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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