After recording the first monthly decline in April, the crypto market faces strong headwinds, breaking a seven-month bullish streak. After reaching a record of $73,837 based on CoinGecko data, Bitcoin (BTC) price plunged to $56,500 last week, triggering a major sell-off even in altcoins. Investors looking forward to 100x profits in 2024 could consider 2 crypto to buy Toncoin (TON) and Litecoin (LTC).
Why These Crypto To Buy?
Starting a new crypto portfolio, or rebalancing one takes a lot of effort. Some investors hit the bullseye while others completely miss the mark. However, with the right guidance, it is possible to narrow down to the best crypto to buy, thus diversifying a portfolio for minimal risk and maximum gain.
Most crypto portfolios feature Bitcoin and Ethereum as anchor digital assets. Still, investors have to consider key crypto to buy, such as TON and LTC, to achieve the most potential.
Litecoin is one of the oldest cryptocurrencies. It has been through several bull markets and crypto winters while remaining resilient. Toncoin, on the other hand, is a crypto to buy backed by one of the largest social media platforms, Telegram.
1. Litecoin (LTC)
Litecoin hovered at $81, increasing its value by a mere 0.1% in 24 hours, CoinGecko data revealed. A noticeable 6% decline in the trading volume points to the lack of interest among traders. LTC boasts $6.1 billion of market cap, ranking #19 among all cryptos.
Meanwhile, sitting above the Bollinger bands middle boundary affirms the sideways trading structure. However, the overall narrowing of this indicator hints at a potential breakout either up or down. Often the tighter the constriction the larger will be the potential breakout.
Since the Relative Strength Index (RSI) has moved above the midline following a dip into the oversold region at the beginning of this month, a bullish outcome is highly likely.
The RSI must up uphold the uptrend toward the overbought region to keep the bullish thesis in LTC price validated. In the short term, a daily close above $82 will go a long way to reinforce the bullish grip, increasing the chances of testing the huge fundamental barrier around $90.
2. Toncoin (TON)
Toncoin has surged in the cryptocurrency rankings, now boasting a market cap of $20.95 million, placing it ninth globally. Toncoin’s trading volume increased 24% over the last day, reaching $221 million, indicating strong investor interest and belief in its future growth.
This impressive performance places it among the market leaders. The trend indicates growing investor confidence and a bullish future for cryptocurrency in the upcoming days.
If this upward trend continues, the cryptocurrency is expected to breach the $7 resistance level shortly. Success in maintaining this momentum could elevate its value to around or even above $10, with potential targets set at $20.
Conversely, If market sentiment reverses, Toncoin might find stable ground at a $5.95 support level. A decline beyond this point could depress its price to $5, indicating a bearish outlook.
Bottom Line
Investing in crypto to buy like LTC and TON has the potential to unlock massive returns in 2024, especially with investors eying the post-Bitcoin halving rally. However, it is paramount to carry out your research and make the final decision on the digital assets to include in the crypto portfolio.
The post 2 Crypto To Buy On The Cusp Of Turning $100 Into $10,000 In May appeared first on CoinGape.
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