Top altcoins like Dogecoin (DOGE), Solana (SOL) and Manta Network flash green compelling investors to buy the dip.
Published 18 hours ago
Investors sighed with relief during European business hours on Tuesday, as Bitcoin price ticked relatively higher. BTC settled above the $40,000 level and then climbed to $40,500, according to crypto aggregator platform CoinGecko. This fresh bullish outlook followed a deep dive below $39,000 on Tuesday, down 20% from the previous peak achieved at $49,000 after the approval of BTC ETFs.
Top altcoin to buy like Solana (SOL), Manta Network (MANTA), and Avalanche (AVAX) led the recovery with double-digit gains. Other tokens like Dogecoin (DOGE) followed in their footsteps but with modest gains.
Investors seem alert again and eager to enter new positions in the best crypto to buy but it is advisable to be patient to allow the market to determine the next course of action.
Is it worth buying Dogecoin (DOGE) today?
Dogecoin modestly holds above the 200-day Exponential Moving Average (EMA) at $0.077. The token, which doubles up as the largest meme coin is expected to close the day above $0.8 to confirm the ability of the uptrend to carry on this week.
However, traders should be aware of the narrow consolidation range between support at $0.076 and $0.085. Movement on either side of this range would determine the direction Dogecoin price will head to next.
The Relative Strength Index (RSI) although neutral at 43 is starting to recover, implying that buyers are slowly gaining traction.
Should DOGE break out of the range to the upside and the descending trendline as shown in the chart, investor risk appetite will increase, creating the necessary momentum to keep the uptrend eyeing highs above $0.1.
Recommended: Crypto Price Prediction For January 24: SOL, STX, DOGE
Solana (SOL) Prepares Climb To $100
SOL has seen a remarkable journey through 2023, culminating in an astonishing near 1000% surge in value. However, this ascent saw a downturn at the start of January, with SOL’s value diminishing by approximately 30%. Recent updates reveal that Solana is currently priced at $86.47. This figure represents a 9% rise over the last day, suggesting a bullish trend in the market.
If the current bullish momentum in the price of Solana market intensifies, it could propel the cryptocurrency toward the $90 resistance level. If this upward trend persists, reaching the $100 milestone might not be far-fetched, signifying a significant recovery in momentum.
Manta Network Moves Another 28%
Manta Network, a modular web3 ecosystem supporting users to build and deploy various solidity-based decentralized applications (dApps), has been moving north since it launched on exchanges, including Binance, Bybit, and KuCoin.
The 28% spike in MANTA’s value has propelled it to $2.85 at the time of writing, attracting a staggering $500 million in trading volume. Mantra Network’s market cap surged by 28% to $716 million and now sits in the 85th spot on the market.
A glance at the one-hour chart reveals growing resistance at $3 with MANTA hitting a new ATH of $2.97.
Although the RSI is slightly overbought at 70, a break above resistance at $3 might make MANTA more attractive to investors who believe the uptrend is far from over, suggesting that the token has the potential to continue with the price discovery mode.
Related Articles
Share this article on:
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.