Price Analysis

Top 5 Low-cap Layer 1 Altcoins To Focus on in 2024

With a growing bearish influence over the crypto market, Bitcoin and other layer-1 Altcoins are under correction. While the intensity of the correction phase differs for each project, the overall performance is under pressure. 

However, the crypto market anticipates a bull run in the coming months. These tokens could skyrocket multiple times, with Bitcoin potentially surpassing $73K. Further, with the altcoin season approaching the crypto market doorstop, the bull run in the Layer-1 tokens is about to begin soon. 

So, here are the top 5 Low Cap Layer-1 Altcoins to buy in 2024 for massive returns. 

The Top 5 Low Cap Layer 1 Altcoins

Radiant (RXD)

Radiant is a peer-to-peer digital asset system allowing direct value exchange without a central authority. Like Bitcoin, it uses a minimal structure and timestamps transactions into a continuous, proof-of-work chain.

Tradingview

Radiant (RXD) is currently priced at $0.000716, up 8.99% in the last 24 hours. The market cap of this Layer-1 token is $7.971 Million, with a 117.89% increase in the 24-hour trading volume.

Radiant’s all-time high was $0.009245 on April 15, 2023, down 92.24% from that peak. The all-time low was $0.0004307 on February 13, 2023, showing a 66.46% increase from that low.

Despite a falling channel in the weekly chart, the RXD Layer 1 altcoin is ready for a bull cycle from the support trendline. An upcycle can result in a jump to $0.0024, a 250% upside potential. 

Chromia (CHR)

Chromia is a blockchain platform developed by ChromaWay, aimed at simplifying the creation of decentralized applications (DApps). ChromaWay, active since 2014, is also known for developing colored coins representing various assets on a blockchain.

Tradingview

Chromia (CHR) is currently priced at $0.2407, up 4.27% in the last 24 hours. The market cap is $195.5 Million, with a 381% surge in the 24-hour trading volume. Further, the Layer 1 altcoin is down by 84% from its all-time high of $1.50. On the flip side, the bull run from the all-time low of $0.008525 marks a remarkable 2705.75% increase.

As per the trend-based Fibonacci levels, a price jump from $0.21 can top the 1.618 level at $0.8435.

Injective Protocol (INJ)

Injective is a blockchain platform designed to revolutionize the finance sector through its advanced Layer 1 infrastructure. Amid the recent market recovery, the INJ price showcased a notable reversal from the combined support of $18.6 and 100W EMA.

Source: Tradingview

The bullish reversal uplifted the asset 20% to trade at $22.4, while the market cap surged to $2.077 Billion. If the bullish momentum holds, then the buyers could challenge the overhead trendline around $27.

The potential breakout could offer a better trend reversal signal and bolster the Layer 1 altcoin, INJ, buyers to chase the $53 target.

Dione Protocol (DIONE)

Dione Protocol (DIONE) is a blockchain project focused on creating a sustainable and eco-friendly digital economy by leveraging renewable energy sources.

Tradingview

While the supply pressure from the broader market eased, the DIONE price correction managed to stabilize above the 38.2% Fibonacci retracement level. The healthy pullback indicates the long-term trend remains bullish for DIONE remains bullish.

A recent reversal from 38.2% FIB at $0.0071 has uplifted the asset 16.4% to trade at $0.0082, while the market cap surged to $77.6 Million.

With sustained buying, this altcoin could flip the 200D EMA into potential support, resorting to the bullish sentiment among traders. The post-breakout rally in this Layer 1 altcoin could hit $0.0134, followed by $0.0165.

DUSK (DUSK)

Dusk Network (DUSK) is a privacy-focused blockchain protocol designed to bring institutional-grade financial services to the blockchain while ensuring compliance with regulatory standards.

Tradingview

DUSK coin witnessed a notable outflow in the June market correction as its price fell from a $0.51 high to a $0.27 low, projecting a loss of 47%. However, the falling price faced a fresh wave of demand pressure at $0.285, a horizontal support zone intact since February 2024.

The coin rebounded from this support, indicating a crucial accumulation zone for buyers to launch a counterattack. By the press time, the DUSK coin trades at $0.284 and maintains a market cap of $119.8 Million.

If history repeats, the DUSK price could rebound sharply and pierce the combined resistance of $0.327 and 200D EMA. The potential breakout will intensify buying momentum in this Layer 1 altcoin to target the $0.5 mark.

SOURCE

Leave a Comment

bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd bcd