Altcoin
The best cryptocurrencies with high recovery potential to buy this week
As the bear market continues, key support levels for many altcoins are weakening, failing to absorb the overall supply. Top performing stocks have remained below 30% or have undergone severe corrections in recent days. Despite selling pressure triggering a domino effect, several high-end altcoins signal high recovery potential.
Top choices include KANG, ONDO, OKB, TON and ARB. Their price action signals the continuation of a bull run and could drive the market’s next recovery rally. In this article, we explore why crypto whales are accumulating these altcoins.
KangaMoon on the Crypto Whales radar: is it worth buying?
While other altcoins struggle to correct prices during the market decline, KangaMoon (KANG) presale continues to record new heights. First, the KANG token has raised over $6.5 million in funding and has seen an ROI of more than 400% in terms of price value. As a result, crypto whales are hoarding the gem on presale for potentially lucrative returns.
Basically, KangaMoon is set to launch a vibrant community where meme coin enthusiasts interact, participate in fun challenges and tournaments, and ultimately earn rewards and prizes. This unique blend of Play-to-Earn concept and SocialFi elements, and high growth potential, attracted new savvy investors to its pre-sale.
Remarkably, the altcoin has accumulated over 6,000 holders and over 20,000 registered members, reflecting the overall market confidence in the altcoin. Unlike other altcoins, the KANG token offers actual utility, serving as an in-game currency for its ecosystem. Users of the KangaMoon ecosystem will use the native token to access exclusive games, upgrade characters, and purchase in-game items on the marketplace.
Currently priced at $0.025 in pre-sale phase 5, KangaMoon could reach astronomical heights in the coming days. With the possibility of a Level 1 CEX listing in the second quarter, experts suggest that KANG’s price will increase 50 times to rise to $0.5. Additionally, KangaMoon is strategically set to enter the P2E gaming industry, which is expected to grow in value to $885 million by 2028.
The move could push KANG’s price further as it opens up this market to investors. With this view, they believe KangaMoon is worth buying for potentially profitable returns.
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Arbitrum’s upward trajectory: will it maintain its momentum?
While the rest of the market is facing a price correction, the Arbitrum coin is on the rise, registering a 0.60% bounce on its intraday charts to trade at $1.01, according to CoinMarketCap data. The recent surge is attributed to the whales’ activities on the net. Additionally, Arbitrum Crypto will unlock a token event on May 16, 2024.
Therefore, various traders are accumulating the Arbitrum coin in anticipation of a price pump. Surprisingly, the strategic accumulation of Arbitrum coin will cushion the impact of the increase in circulating supply, which has stabilized the price of Arbitrum around the $1 mark.
With this view, many experts are making bullish predictions on the price of Arbitrum, suggesting that the price could reach $2.04 in May 2024 due to the excitement surrounding the May token event.
Ondo price remains bearish: will it be able to regain the psychological level of $1?
Ondo Finance has had a great start to the year. The DeFi platform aims to bring tokenized treasury products onto the chain. With the current market decline, the price of Ondo has seen substantial declines, recording a 19% decrease in value over the past week, according to CoinMarketCap data.
However, Ondo’s price action shows resilience against selling pressure. The possibility of Ondo price recovering would depend on the market sentiment changing from Fear to Greed. Furthermore, Ondo coin’s dominance at 200 EMA has blocked the chances of a consolidation phase.
In any case, the Ondo coin’s daily RSI shows the possibilities of a bullish divergence. If the price of Ondo were to recover and regain the psychological area around the $1 value, the DeFi coin could explode into a rally. Therefore, the next bull run could push the Ondo coin near the 1.61 Fibonacci level to the $1.32 level.
Toncoin Cryptocurrencies Attract Whale Transactions: Will They Trigger a Price Pump?
The Toncoin cryptocurrency has been making headlines recently, gaining traction among large investors and sparking speculation about Telegram’s impending IPO. Amid the decline in the broader market, the Toncoin cryptocurrency has continued to attract whale investments, further solidifying its market position and reflecting on Toncoin’s long-term growth prospects. Surprisingly, Toncoin price shows strong demand at the support level.
With this in mind, Toncoin price is preparing for a prolonged rally with a new rebound. In any case, Toncoin price has seen a significant outflow in value, recording an 18% drop on its weekly charts, according to CoinMarketCap data.
However, many experts are still optimistic about Toncoin’s price upside, suggesting that the altcoin could reach the $15 mark in the next bull cycle.
Could OKB price rise above $100 in the next bull cycle?
The native coin OKB of the renowned cryptocurrency exchange OKX has seen a significant downtrend over the past week amid the broader bear market. Over the past seven days, OKB coin has seen a 13% decline while trading between $55.44 and $48.23, showing a wedge formation, according to CoinMarketCap data.
Notably, the OKB price struggles to consistently support the 50W EMA. If this trend continues, the OKB coin may break the trend line. OKB price is trading at the base level and projects a new opportunity to enter the upcycle. Furthermore, the key support levels of the OKB coin align with the retracement level based on the Fibonacci trend.
Therefore, the indebtedness underlying the demand for OKB cryptocurrencies can support an uptrend in the coming days. With this view, various experts have made bullish predictions on the price of OKB, suggesting that if the upcoming uptrend breaks above the 78.60% Fibonacci level around the $74.5 mark, the next bullish cycle could push the price of OKB to $100.
In summary
As the market dynamic continues to change, the above altcoins have the potential to offer a blend of innovation and opportunity. While Arbitrum, OKB, Toncoin and Ondo prepare for price recovery, KangaMoon stands out with its robust presale performance.
Stable and monumental milestones, just a few weeks on the market, suggest a strong signal for KANG’s future performance growth. Now is the optimal time to join the KangaMoon community.
Discover exciting KangaMoon (KANG) presale opportunities today!
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