The post Best Crypto To Invest Right Now: The Best Altcoins to Watch as Bitcoin Consolidates appeared first on Coinpedia Fintech News
While Bitcoin has struggled to maintain its momentum, certain altcoins are holding strong, signaling a potential breakout. Popular analyst Credible Crypto believes Litecoin (LTC) and XRP could become key players in the next market rally. Both tokens have maintained their support levels despite Bitcoin’s price dip below $80K, showing resilience while BTC continues to hover around key price ranges. Ethereum (ETH), on the other hand, remains stagnant at $2.1K but could surprise investors if momentum shifts in its favor.
Altcoins Showing Strength Amid Market Uncertainty
Since the Bitcoin and ETH craze is fading, several altcoins are standing out in the current market. Solana, Pi Network, Dogecoin, and Cardano have rebounded strongly, presenting investment opportunities. Dogecoin saw a 10.90% jump to $0.2044, largely driven by speculation of a potential ETF approval, which has fueled optimism among investors. Cardano is also showing positive buying signals, indicating a potential upward move.
LTC vs XRP: Altcoins Giving Bull Vibes!
Litecoin and XRP have emerged as some of the most stable altcoins in this downturn. The analyst points out that while Bitcoin has dropped below its key support levels, LTC and XRP have held steady, making them likely candidates to lead the next market recovery. At the time of writing, Litecoin is trading at $127, showing marginal gains, while XRP sits at $2.15, down 1.6% on the day.
Crypto analyst BearBull points out that while XRP has held its relative low, a drop to the high-timeframe (HTF) demand zone around $1.60 would challenge its current strength. However, Litecoin (LTC) appears more likely to hold higher, as its local low at $80 is still 33% away, compared to XRP’s 15% margin. In response, Credible Crypto agrees, noting that if XRP breaks its range lows and hits HTF demand, it may not look as strong in the short term, but overall, the HTF remains bullish.
Bitcoin’s Current Position—Sideways Action Before a Breakout?
Bitcoin recently dropped to $79,000 before recovering slightly to $85,070. According to Credible Crypto, BTC is likely to trade sideways between $74,000 and $99,000 before making a significant move. This consolidation phase could provide a foundation for select altcoins to surge ahead.
Are We in a Selective Altcoin Season?
Bitcoin dominance remains above 60%, keeping most altcoins in check, but select tokens like XRP, Litecoin, Solana, Pi Network, Dogecoin, and Cardano have rebounded, attracting investor interest. CryptoQuant’s CEO, Ki Young Ju, sugests that only a handful of altcoins will benefit in this cycle. Unlike past bull runs where most altcoins surged together, this time, only select assets tied to institutional adoption, stablecoins, and meme coins are standing strong.
The total crypto market cap is now at $2.76 trillion, testing the highs of 2021. However, many altcoins are still down over 80% from their peak. Investing in projects with real utility rather than hype could be the best strategy in this bear market.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
