Price Analysis

Top Altcoins Below $1 To Invest Before the Revival of a Fresh Bullish Spell

The crypto markets are consolidating as the Bitcoin price plunges below $61,000, circulating bearish waves within the markets. Meanwhile, altcoins have also begun to correct to some extent, which signals that the token may undergo a fresh ascending trend very soon. Here are some of the altcoins which are poised to reach $1 in the upcoming bullish spell. 

Pyth Netwrok (PYTH) 

  • Pyth Network gained huge attention as the prices soared above 400% since the start of the year which remained unaltered regardless of the bearish trend that followed
  • The price is trading within a descending parallel channel and is consolidating within a range from the past fortnight
  • The extreme consolidation suggests the bulls could soon gain dominance and elevate the levels to $0.5 initially 
  • As the selling pressure has intensified over time, it seems that the bulls may revamp a steep ascending trend as suggested by the bull-bear power
  • Once, the PYTH price sustains at these levels, then the path to $1 may be pretty clear without major hindrance

ZkSync (ZK) 

  • zkSync has just begun its trading journey and hence is believed to demonstrate huge price action in the coming days
  • The RSI has maintained an incremental trend, due to which the price is on the verge of completing the parabolic recovery to reach the neckline
  • The neckline around $0.232 to $0.23 can be considered extremely crucial, as the bulls are expected to fall weak at these levels
  • Meanwhile, if they display some strength at these levels, then the price could trigger a fresh rise to form a new ATH above $0.3
  • By then, market sentiments may have turned bullish, which could trigger a fresh ascending trend, discovering new highs in the latter half of 2024

Conflux (CFX) 

  • The recent pullback appeared to be the end of the bullish trend as the price dropped after forming a mountain 
  • However, the possibility of a trend reversal emerges as the RSI is again testing the average range, aiming to surpass the levels
  • Unfortunately, the bears have dominated the markets and as a result, the price may also face a minor pullback 
  • After undergoing a small drop of nearly 18% to 20%, the CFX price is expected to initiate a fresh upswing and maintain a steep ascending trend to reach the upper resistance zone at $0.21
  • During the last quarter, the markets are expected to become more optimistic, which may trigger a fresh ascending trend to reach $1 in the last few weeks of 2024

Ethena (ENA) 

  • The Ethena price has been stuck within a steep descending trend ever since it started its trading journey and formed the highs
  • The price formed new highs close to $1.5 and after marking the bottoms, the token is trying hard to rebound 
  • Therefore, the price is expected to regain $0.5 anytime from now, which could elevate the levels above $0.65 by the end of the month
  • The RSI which has bottomed, may trigger a rebound, validating the bullish trajectory, and aiming to reach the upper threshold
  • Therefore, the ENA price is expected to sustain above $0.8, which may pave the way to reaching $1 in the next few months

Mantle (MNT) 

  • MNT price has dropped below the crucial ascending trend line and marked the bottoms along the support zone just below $0.8
  • The price is consolidating heavily within the support zone, which is expected to result in a massive outbreak very soon
  • As the RSI has reached the lower threshold, a rebound may be expected, reviving a fresh ascending trend above 50
  • This move may cause the price to rise above $1 but it may also reach the upper resistance close to $1.5. 

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