2 Cryptocurrencies To Buy Boosting Into Top 10
Release: 2024/07/03 02:44 Reading: 775
Cryptocurrency Bull Run: Top Altcoins to Watch
As July commenced, cryptocurrencies exhibited a surge in value, signaling a reversal from the bearish trend experienced in June. Bitcoin surpassed $60,000, sparking bullish momentum in altcoins. Ethereum surged past $3,400, leading the charge, followed by impressive gains from altcoins like Solana (SOL), Dogecoin, and Cardano.
Amidst this growing optimism, fueled by expectations of spot ETFs in the US, investors are eager to identify promising cryptocurrencies with the potential for exponential growth.
Cryptocurrencies to Invest in: Breaking the Top Ten Barrier
For many crypto projects, reaching the esteemed top ten is a testament to exceptional network growth, ecosystem expansion, and intense competition. By investing in these top-tier cryptocurrencies, investors have the potential to unlock significant gains and enhance their portfolio growth.
In this exploration, we delve into two unique digital assets: Chainlink (LINK) and Floki.
1. Chainlink (LINK)
Driven by renewed buying interest from whales, Chainlink rebounded by 16.2% from its multi-month support zone at $12.63, reaching $14.678. This surge indicates the LINK coin's ability to sustain above the 38.2% Fibonacci retracement level, providing a strategic correction point for buyers.
During the June correction, Chainlink experienced significant selloffs, with its price plummeting from $19.2 to $12.6, marking a 34.2% decline. This low, combined with a 32.8% FIB level and 100W EMA, constitutes a high area of interest (AOI) for buyers.
In the past six months, LINK has consistently found support at the aforementioned support level, suggesting aggressive defense by buyers to prevent prolonged losses. The recent bullish reversal has propelled LINK to $14.5, with its market cap reaching $8.85 billion.
On-chain data analysis reveals that whales and institutions are accumulating Chainlink (LINK). Over the past seven days, 54 new wallets have acquired a total of 2.08 million LINK, valued at approximately $30.28 million, from Binance.
The daily chart's support trendline, in place since June 2023, serves as a foundation for the current recovery. Maintaining this level is crucial for buyers to sustain the bullish momentum.
2. Floki
Data from CoinMarketCap indicates a notable rise in Floki's market cap to approximately $1.66 billion, marking an increase of 2.80%. Moreover, the trading volume has witnessed a 47% surge in the past 24 hours, reaching $226 million. This heightened market activity reflects growing investor interest in Floki.
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