Bull runs are periods that bring joy to all investors in the crypto market. However, for those with a small budget, it might be difficult to pick the altcoins to buy to maximize profit.
However, we at CoinGape are committed to helping investors jumpstart their investment journeys by pointing them in the right direction. From the best undervalued AI-based crypto projects, meme coins, and layer 1 projects to the Solana ecosystem, there’s something for everyone in the cryptocurrency industry.
That said, for investors with only $1,000 to spare and eyeing between 5x – 10x profit, it would be advisable to narrow to altcoins to buy backed by robust technologies, essential utilities, and vibrant communities.
Two altcoins to buy fit this bill in June including Ethena (ENA) and Notcoin (NOT). Although launched this year, both of these tokens boast strong community backing amid their vastly expanding ecosystems.
- Ethena (ENA)
According to CoinMarketCap data, the current market capitalization stands at approximately $850 million. The 24-hour trading volume for Ethena is reported 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 exhibited a downward trend, with its value falling below the crucial $0.63 mark, 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 dominating. This is underscored by a notable decline in ENA value. Over the past week and month, ENA has dropped by 11% and 38%, respectively, highlighting the bearish trend influencing the crypto market.
Ethena is currently experiencing a bearish trend. If market strength remains insufficient, its value may weaken further. The cryptocurrency could drop to its support level of around $0.56. Persistent bearish pressure could deepen the decline, potentially falling to a lower support level near $0.5 in the near future.
On the flip side, if bulls can overcome the $0.57 resistance, an upward momentum is likely. This surge could push Ethena towards testing significant resistance at $1. With continued bullish pressure, Ethena’s price could climb to $2 in the upcoming rally.
2. Notcoin (NOT)
Notcoin is making notable strides in cryptocurrency, recently surpassing the critical $0.01543 value threshold. This surge in price is turning heads, especially with the potential for further growth paralleling Bitcoin’s upward trajectory.
Notably, Notcoin reached an all-time high of $0.02896 on June 2, 2024, after hitting its lowest value of $0.004605 just days earlier on May 24, 2024.
If the bullish trend continues, Notcoin price may soon challenge its resistance level, currently pegged at $0.016. This digital currency’s ascent could propel its value to $0.05, potentially reaching $1 by month’s end.
Conversely, a downturn in market sentiment could force Notcoin to retreat to a support level of around $0.015. If this negative trend persists, the price may dip to approximately $0.014, signaling a bearish phase for the currency.
Bottom Line
This may be the best to invest in these 2 altcoins: Ethena and Notcoin considering they are heavily discounted from all-time highs. However, due diligence must be applied as the crypto market tends to be volatile.
The post Have $1,000? 2 Unstoppable Altcoins To Buy Without Hesitation appeared first on CoinGape.
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