Altcoin
Do you have $1,000? 2 Unstoppable Altcoins to Buy Without Hesitation
Bull periods are periods that bring joy to all investors in the cryptocurrency market. However, for those who have a limited budget, it may be difficult to choose which altcoins to buy to maximize profit.
However, we at CoinGape are committed to helping investors jumpstart their investment journey by pointing them in the right direction. From the best undervalued Powered by 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 at their disposal and aiming for a profit of between 5 and 10 times, it would be advisable to stick to altcoins to buy supported by robust technologies, 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 booming ecosystems.
- Ethena (ENA)
Second CoinMarketCap datathe current market capitalization is approximately $850 million. The 24-hour trading volume for Ethena is reported to be $64 million, reflecting a decline of 12% from the previous period. This metric indicates the overall activity and liquidity of the token in the market.
Ethena pice chart
Meanwhile, Ethena has recently shown a downtrend, with its value falling below the crucial $0.63 mark, signaling a bearish phase. The recent price fluctuations among major altcoins reflect mixed sentiments in the market.
There is a clear tug-of-war between bearish and bullish forces, with bearish forces currently dominating. This is underlined by a notable decline in the value of ENA. Over the past week and month, ENA has fallen by 11% and 38% respectively, highlighting the bearish trend affecting the cryptocurrency market.
Ethena is currently in a bearish trend. If the market strength remains insufficient, its value could weaken further. The cryptocurrency could drop to its support level around $0.56. Persistent bearish pressure could deepen 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 an all-time low of $0.004605 just a few days earlier on May 24, 2024.
Notcoin Price Chart
If the uptrend continues, Notcoin price could 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 of 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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