Altcoin
Do you have $1,000? 2 Unstoppable Altcoins to Buy Without Hesitation
Bull runs are periods that bring joy to all investors in the cryptocurrency market. However, for those with a limited budget, it can be difficult to choose which altcoins to buy to maximize profit.
However, we at CoinGape are committed to helping investors boost their investment journeys by pointing them in the right direction. From the underrated best Based on artificial intelligence crypto projects, meme coins and level 1 projects to the Solana ecosystem, there is something for everyone in the cryptocurrency industry.
That said, for investors with just $1,000 to spare and aiming for 5x to 10x returns, it would be advisable to narrow down your choices to altcoins to buy that are backed by solid technology, essential services, and vibrant communities.
Two altcoins to buy fall into this category in June, including Ethena (ENA) and Notcoin (NOT). Although launched this year, both of these tokens boast strong community support amid their vastly expanding ecosystems.
- Ethena (ENA)
Second CoinMarketCap datathe current market cap is around $850 million. The 24-hour trading volume for Ethena is said to be $64 million, reflecting a 12% decrease from the previous period. This metric indicates the overall activity and liquidity of the token in the market.
Meanwhile, Ethena has recently shown a bearish trend, with its value falling below the crucial $0.63 level, signaling a bearish phase. Recent price fluctuations among major alternative coins reflect mixed market sentiments.
A tug of war between bearish and bullish forces is evident, with bearish forces currently dominant. This is underlined by a notable drop in the ENA value. Over the past week and month, ENA has fallen by 11% and 38% respectively, highlighting the bearish trend influencing the cryptocurrency market.
Ethena is currently experiencing a downtrend. If market strength remains insufficient, its value could weaken further. The cryptocurrency may drop to its support level of around $0.56. Persistent bearish pressure could exacerbate the decline, potentially dropping to a lower support level near $0.5 in the near future.
On the other hand, if the bulls can break above the $0.57 resistance, an upside momentum is likely. This surge could push Ethena towards testing a significant resistance at $1. With continued bullish pressure, Ethena price could rise to $2 in the next rally.
2. Notcoin (NOT)
Not money is making great strides in the cryptocurrency industry, recently surpassing the critical value threshold of $0.01543. This price increase is turning heads, especially with the potential for further growth alongside Bitcoin’s upward trajectory.
Notably, Notcoin reached an all-time high of $0.02896 on June 2, 2024, after hitting a low of $0.004605 just a few days earlier on May 24, 2024.
If the uptrend continues, Not the price in money it may soon challenge its resistance level, currently set at $0.016. The rise of this digital currency could push its value to $0.05, potentially reaching $1 by the end of the month.
Conversely, a decline in market sentiment could force Notcoin to retreat to a support level around $0.015. If this negative trend persists, the price could drop to around $0.014, signaling a bearish phase for the currency.
Bottom line
This could be the best way to invest in these 2 altcoins: Ethena and Notcoin considering that they are heavily discounted compared to all-time highs. However, due diligence must be applied as the cryptocurrency market tends to be volatile.
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John is a cryptocurrency expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to providing valuable insights into price trends and market forecasts. With his extensive experience in the cryptocurrency industry, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), decentralized finance (DeFi), centralized finance (CeFi) and of the dynamic landscape of the metaverse. Through his constant reporting, John keeps his audience informed and prepares them to navigate the ever-changing cryptocurrency market.
The content presented may include the author’s personal opinion and is subject to market conditions. Do your own market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.