21 August 2023 Disclosure
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Crypto traders are always searching for the best cryptocurrencies to buy on any given day – we list some high-potential coins in this post.
The crypto market is recovering, and a few altcoins are leading.Today’s gainers’ list has LTC, XMR, LDO and others closer to the top, while giants cryptos like ETH are also returning from the bearish market.
In the meantime, what are the best cryptos to buy now? As the week unfolds, the potential of many crypto assets is becoming quite predictable.
In this update, we will survey the market to identify the next big tokens on their way to printing big gains.Best Crypto to Buy Now
Today’s article will help investors update their watchlists and provide insight into the crypto market’s performance.Moreover, the post goes beyond the listed cryptocurrencies to explore opportunities in upcoming projects.In that light, Sonik Coin is also featured in this article.
The project’s fundamentals are remarkable, and it may be best for investors to look into it.However, the article covers a summary of the progress so far.Global Crypto Market Cap Chart 1.Litecoin (LTC)
Many are still determining the future of LTC.Since its halving earlier in the month, LTC has lost over 18% of its value.Most traders and investors expected a boost in value after the halving.
However, LTC took a different path, shedding about $47 in less than 21 days.
Most investors are asking now whether LTC has a chance of recovery.
Despite the sudden drop in the token’s price, some signs reveal that LTC may be one of the best cryptos to buy now.Technically, LTC has been on the uptrend before the bearish condition that overtook the crypto market last week.
After the squeeze that forced the asset’s price down from its peak, the token began an upward trend, pushing its price from $63 to its current price of $66.
It’s even more interesting to note that LTC quickly flipped into consolidation after the last week’s bear market.
The overall performance of LTC shows that the market might see a protracted gain.While it is unlikely that the token will produce explosive gains, it might gallop its way up the curve in the coming weeks.
LTC may reach the $78 range as the trend progresses before encountering formidable resistance.
LTC’s RSI and moving averages indicate that LTC might find enough bullish momentum to push its price further up the chart.
2.TRON (TRX)
TRON platform has been printing impressive numbers lately, as seen in the value of its token.
According to information on its official Twitter handle, the platform is one of the few layer 1 blockchains that printed positive TVL output in the second quarter.
Despite recording a significant drop in its price in the past few weeks, TRX is positioning itself for another excellent quarter.
In the last 24 hours, the token price has increased by 3%.Similarly, there’s been an increase of about 30% in its trading volume, which indicates that TRX is enjoying growing interest from the crypto community.
Will TRX be able to sustain its gains for the rest of the months or till the end of Q3? Technically, TRON has several upsides that might increase its chance of breaking new ground.
#Cardano and #TRON were the only L1s with positive QoQ #DeFi TVL growth.
Cardano grew 14% QoQ and TRON grew 7% QoQ and is now up 48% YoY.
— TRON DAO (@trondao) August 20, 2023
Investors should not expect the current spike in the price of TRX to translate into a massive surge.
Nonetheless, it might sustain its growth consistently into Q4.Growing partnership efforts is one of the key performance indicators showing that TRX can print positive performance Q3 price gains.
In the meantime, it’s best to include TRX in the investment watchlist and see how its trend progresses.
3.Lido DAO (LDO)
LDO might be preparing for a reversal, as indicated by its charts.Even though the asset’s price has fluctuated lately, its RSI shows that it might be nearing the overbought range.
The effect is seen in its price action in the last 24 hours, which recorded an increase of about 2% in the early hours of the day, although it reseeded to its downtrend.Ultimately, we might see a pump in the asset’s value in the coming weeks.
While the technical details of LDO may paint a gloomy picture of the assets , its fundamentals show that the token is one of the upbeat cryptocurrencies to watch.
A recent instance is the pump in the TVL, bringing its value to $15.06b.
Similarly, there’s been an increase in staking activities on the network.As time progresses, the price of the LDO token would adjust to reflect the tightening supply and growth in the asset’s value.
Nonetheless, there are downsides to watch out for.Firstly, LDO’s moving average convergence/divergence returns a negative value, revealing that the token may see increased bearish sentiment.
Also, the current price of the token is much below its long-term moving average, an indicator that suggests continued bearish sentiment.
However, LDO has its downsides as well.Investors should note that the relationship between its current price and 200-day moving averages may present a key downside.
Its recent price trades below its long-term moving averages, indicating potential for bearish conditions.4.Monero (XMR)
Regarding privacy in the crypto industry, Monero is the first platform that comes to mind.Not only is it a leading crypto privacy sector, but the token has also entered the top crypto gainers list in the last 24 hours.Its price increased by 3% today, in addition to a trading volume pump of over 40%.While the reversal is quite expected, the surprise is that it came amid a market downturn.
Monero showed the probability of price reversal last week after the token spent a few days in the downtrend.Its RSI indicated the prospect of a bullish momentum, which resulted in its current trend.It is currently trading around the $148 resistance, which might give way before the close of the day.
If XMR breaks above the resistance at that point, it can rally its way up to the $150 range.
Even with this, the chance of Monero ranking in explosive gains before the end of the year is quite slim, as the resistance above $160 might prevent the asset from breaking above.
However, a major shift in the crypto native, especially in the institutional investors getting involved in the industry, might bring the needed rally to push it above.
Investors can also consider XMR one of the best cryptos to buy now for short-term strategy.The token might be too volatile for long-term moves.
5.Sonik Coin (SONIK)
As its name suggests, the Sonik Coin presale is jetting towards its goal with a total fund raised above $260,000 at press time.
The community is gradually coming together, and the vision is almost getting into the fast lane.
Zoom zoom boom, over $200K raised! https://t.co/s1fTdXDQCK pic.twitter.com/M0KmbeCGgS
— SONIK COIN (@Sonikcoin) August 21, 2023
While the goal is still a few steps away, the vibe and the life around the project are becoming quite interesting.
At the time of writing, there are over getting closer to the 1k mark, and the investor waitlist has grown to hundreds.The progress so far reveals the laudable efforts of the team behind the project and its commitment to the success of the project.
The invitation to join the Sonik Coin community is still open.The community is bound together by the SONIK token currently offered on presale.
One of the project’s uniqueness is its boldness to degen investment.It has set a bold target of becoming the fastest cryptocurrency to cross the 100 million market cap.
While the aim appears ambitious, it has a positive side for the community and the project.
Nonetheless, the realisation of the vision rests on the shoulders of the team and the community.
Hence the call for more degen investors to come on board and participate in the boldness.Presently, the token is offered for $0.000014 and will remain at that price until the end of the presale.
Degen inventors know that the most successful shitcoins have a bold vision, committed community, dedicated team and strong fundamentals.A critical review of Sonik Coin revealed it entails all these factors..
