As we progress into the second half of 2024, the cryptocurrency market presents a complex and evolving landscape.
While technical analyses suggest the potential for continued growth, current indicators for market leaders Bitcoin (BTC) and Ethereum (ETH) paint a more cautious picture.
Bitcoin currently trades at $60,509 and has dipped 3.95% in the last 24 hours, showing a bearish trend and strong resistance ahead. Ethereum, which also dropped by 4.23% in the last 24 hours, as per CryptoNews data, mirrors Bitcoin’s bearish sentiment.
Experts are optimistic about the market’s long-term trajectory despite these bearish indicators. Read more from our Bitcoin price prediction.
Some analysts have argued that Bitcoin’s technical analysis already indicates a strong bullish trend overall. BTC trades above key moving averages and is experiencing high trading volumes during price increases.
Some market observers believe Bitcoin must break current resistance levels and surpass its all-time high (ATH) to reach new heights, however .
From a Technical Analysis perspective $BTC has to first break current resistance and prev. ATH of $73k before breaking to higher-highs such as this
$120k target bull market price towards the end of this year. https://t.co/i2fhn4CQhm
— Max Milko (@MaxMilko) June 16, 2024
Until then, investors are increasingly looking beyond Bitcoin and Ethereum for potential opportunities, seeking alternative cryptocurrencies to capitalize on when these blue chip assets overcome their current challenges.
Here are some of the best cryptos to buy now with potential for growth in the current market conditions.
Cardano ($ADA)
Cardano ($ADA) is the native cryptocurrency of the Cardano blockchain and may very well be one of the best crypto to buy now, a third-generation proof-of-stake (PoS) platform designed to be more efficient and scalable than its predecessors.
Developed by a team of academics and engineers, Cardano seeks to provide a sustainable, scalable, and transparent blockchain for running smart contracts and decentralized applications.
The utility-driven nature of $ADA makes it an attractive investment opportunity. At press time, $ADA trades at $0.4063, 2.2% away from this morning’s high of 0.4172, according to CoinMarketCap data.
It looks like the rotation from Bitcoin and Ethereum to Cardano $ADA may have finally begun. pic.twitter.com/wL5O5ekzvc
— Carda Nostra (@cardanostra) July 2, 2024
Although $ ADA has increased 4.54% in the last seven days, it is still 86.66% below its all-time high of $3.10, reached in 2021.
Cardano has come a long way and has matured for a blockchain. In Europe, the Cardano Foundation joined forces with the Crypto Carbon Ratings Institute (CCRI) to release a set of sustainability indicators in compliance with EU’s MiCA rules.
Analyzing its recent performance, data from Coinalyze seems to suggest excitement among Cardano investors. The open interest (OI) on $ADA, which tells us how many contracts are active in the market, has grown by 3.6% in 24 hours.
$ADA Falling Wedge Breakout is finally Confirmed after long Consolidation..
Expecting +70% Bullish Rally in Coming days..
#Crypto #ADA #Cardano #ADAUSDT pic.twitter.com/MO5pTnOkZh
— Captain Faibik (@CryptoFaibik) July 2, 2024
Another positive aspect of Cardano’s recent price action is the percentage of long positions, which is 70% long from investors, while only 30% have taken short positions. Investors can learn more about $ADA’s price action from our Cardano price prediction guide.
Pyth ($PYTH)
Pyth ($PYTH) is the native token of the Pyth Network, an oracle solution built on the Solana blockchain. The Pyth Network was created at an incubator program run by Jump Crypto to be a highly accurate and efficient oracle for feeding crypto price data into DeFi protocols.
The $PYTH token reached a daily high of $0.3394, is currently down by 4.3%, and trades at $0.313. Its market cap is $1.13 billion, reflecting growing interest in oracle solutions.
Technical indicators, including the 14-day Relative Strength Index (RSI), are at 42.53, up from 37.99, suggesting movement from a bearish sentiment to a neutral market sentiment.
Damn, there's some charts that look so ridiculously good for real.
There's one thing I know for sure, it's Solana season and maybe banana season.
Find the strongest coins and get some exposure, there's so much opportunity.$PYTH
pic.twitter.com/LaY6loPaRJ
— CBas
(@Crypto_CBas) July 2, 2024
This indicates the potential for further price increases as the DeFi ecosystem continues to expand and demand for reliable oracle services grows.
Recent developments, such as partnerships with major financial data providers and integration with various DeFi protocols, have also strengthened $PYTH’s market value proposition. As such, PYTH could be the best crypto to buy now.
Tron ($TRX)
Tron ($TRX) is the native cryptocurrency of the Tron network, a blockchain-based decentralized platform that seeks to build a free, global digital content entertainment system using distributed storage technology.
Founded by Justin Sun, Tron has positioned itself as a major player in Web3.
After a challenging June, where most tokens were affected by the $BTC price drop, two tokens stood out and weathered the storm
$TON saw an impressive increase of 22.70%
Which tokens will you be keeping an eye on in July? pic.twitter.com/uium9OxQju
— Blockchain.com (@blockchain) July 2, 2024
$TRX is currently trading at $0.128 and has experienced a 0.34% increase in price over the past 24 hours.
While it’s still below its all-time high of $0.3 reached in January 2018, the token shows a strong market presence with a 24-hour trading volume of $308 million and a market cap of $11.18 billion.
$TRX Has one of the best HTF structures amongst alts rn
will be paying attention going forward
Love him or hate him J Sun does know how to put the pump on a coin pic.twitter.com/2tYbcvRiPF
— schmosby (@schmosby_xbt) July 2, 2024
Tron’s ecosystem has grown remarkably, with the platform hosting a wide range of dApps, DeFi protocols, and even its own stablecoin, USDD. It could thus be the best crypto to buy now.
As the demand for scalable blockchain solutions for content creation and distribution continues to grow, $TRX could be an attractive investment option for those looking to capitalize on the future of decentralized digital entertainment.
Unlock the Potential of Presale
The crypto market offers opportunities where a modest investment of $20 can potentially yield up to $1,000 with the right trading strategy. Altcoins have historically been popular for delivering these sorts of returns, sometimes exceeding 100X.
Their price gains are often short-lived due to a lack of utility, however, which hinders sustainable growth.
With over a hundred thousand crypto assets available, identifying the best investment choices can be challenging for any trader. Analysts at CryptoNews have taken the time to identify, analyze, and curate the top presales with strong use cases and growth potential.
15 Best Crypto Presales to Invest In
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