These Cryptos Below $1 May Be the Best Buy Before the Markets Flip From the Bearish Well

The post These Cryptos Below $1 May Be the Best Buy Before the Markets Flip From the Bearish Well appeared first on Coinpedia Fintech News

The crypto markets are undergoing a roller coaster ride, with the Bitcoin price forming lows below $60,800 and also rebounding to reach highs above $64,300. Although the volume remained relatively low, the bears influenced the rally only for a few hours. 

This enabled significant price action, which triggered a strong recovery in no time. In the meantime, some of the popular altcoins that are priced below $1 appear to be more promising as they tend to go along with the next bullish spell. 

Polygon (MATIC) 

• The Polygon price broke above the decisive symmetrical triangle just before reaching the apex, which suggests a bearish pullback could materialise

• After marking the yearly high above $1.2, the price faced a pullback and began to consolidate, which suggests the traders could be waiting for the token to enter the triangle

• However, the buyers are utilizing all their strength to defend the lower support and the technicals also appear to be in their favour

• The DMI appears to have entered a bearish trap but the ADX maintains an ascending trend, suggesting that strength prevails within the rally

• Therefore, MATIC price appears to be pre-programmed to reach $1 any time from now, while the upper targets for the month remain around $1.5

Fantom (FTM) 

• The Fantom price has been trading within a rising wedge ever since the rally flipped from the 2023 lows

• By rising by more than 400%, the FTM price has reached the upper resistance of the wedge, which may indicate a rejection

• The RSI has surpassed the upper threshold, which indicates the price has reached the local highs and may fall into a correction very soon

• On the other hand, the MACD is bullish as it has raised within the bullish range for the first time since early 2023 and is believed to remain bullish for a certain period

• Therefore, FTM price is expected to maintain a healthy upswing, reclaim $1 shortly and head towards the higher target at $2