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