Cryptocurrency enthusiasts are increasingly eyeing the next potential breakout stars. This article delves into five undervalued altcoins, each priced below $1, that could be on the verge of significant growth. Discover which promising digital currencies are generating buzz and why they might be poised to deliver substantial returns.
TRON (TRX)
TRON (TRX) is experiencing a steady phase, sticking around $0.15. Despite a recent 2.75% weekly gain, it shows weakness with an RSI of 40, indicating more bearish pressure. Bulls seem cautious, as TRX faces resistance at $0.16. If it breaks through, it might climb another 6% to reach $0.17. However, if bears take control, it could dip to $0.14 or even slide 13% to $0.13. The consistent Simple Moving Average over 10 and 100 days highlights little momentum in either direction. TRX’s slow growth suggests it’s a wait-and-see scenario for traders.
Stellar (XLM)
Stellar’s price is hovering between nine and ten cents. It’s having trouble gaining momentum. The bulls seem to have lost their strength, as the current price is close to recent support levels. XLM needs to break through its first resistance at just over ten cents to show any potential for growth. If it achieves this, it might reach its second resistance level, leading to a rise of about thirteen percent from the lower end of the current range. However, its RSI suggests the market isn’t overly heated. With a slight one-week gain, but a month and six-month decline, Stellar needs a solid push to regain loss ground.
Dogecoin (DOGE)
Dogecoin’s current price is moving between around nine and a half cents to nearly eleven cents. The RSI is just over 52, pointing to neither bulls nor bears having full control. The price change over one week is up by about two and a half percent, but the last six months have seen a drop of over thirty-eight percent. The market shows weak bullish signs as it sits above the 10-day moving average while also nearing the 100-day mark. To solidify an upward trend, Dogecoin needs to break past the nearest resistance level at almost twelve cents, which could show a potential rise of over twenty percent if it reaches the second resistance.
Shiba Inu (SHIB)
The Shiba Inu coin has been on a roller-coaster lately, trading in a narrow range around $0.000013. Recent data shows the bears might be in control since the price is below the 10-day and 100-day averages. SHIB has faced strong resistance at around $0.00001465 and further up at $0.00001583. Meanwhile, it found some support just above $0.000012. The RSI near neutral hints at balanced pushes from both buyers and sellers. Stochastic levels suggest limited short-term momentum, while the MACD shows slight bearishness. With a modest monthly gain of under 5% and a six-month drop nearing 50%, SHIB needs strong bullish action to see significant upward motion.
Kaspa (KAS)
Kaspa (KAS) stands in a tight spot, showing signs of a bearish hold. The coin’s price hovers between fifteen and eighteen cents, struggling to break through the twenty-cent resistance. The recent drop slightly below the ten-day and one-hundred-day simple moving averages points to weak momentum. The RSI is quite low, indicating an oversold condition, while the MACD suggests a bearish trend. In spite of this, the monthly gain hints at the potential for growth. If buyers step up, KAS could climb to twenty-three cents, marking a growth of about thirty percent. However, if selling pressure persists, it might test the support at fourteen cents.
Conclusion
These five undervalued altcoins—TRON, Stellar, Dogecoin, Shiba Inu, and Kaspa—are currently trading below $1 and could offer promising opportunities for investors. While they face resistance and bearish trends, each has the potential to break through key price levels and deliver significant gains. Whether it’s Dogecoin nearing a potential 20% rise, Stellar showing signs of regaining lost ground, or Kaspa eyeing a 30% growth, investors should watch these coins closely for the next big move. With the right market momentum, these altcoins could see substantial returns in the near future.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/09/investors-look-forward-next-big-move-from-these-5-cheap-altcoins-under-1