The cryptocurrency market holds an abundance of opportunities. While the focus commonly centers on major cryptos like Bitcoin (BTC) and Ethereum (ETH), undiscovered gems are trading below the $1 threshold.
Despite their modest value, these lesser-known altcoins could display growth potential. However, it’s crucial to acknowledge that they entail a higher level of risk.
Leveraging fundamental indicators and technical analysis, Finbold has compiled a roster of the most promising cryptocurrencies priced below $1, offering potential profit opportunities in the coming week.
Dogecoin (DOGE)
Dogecoin (DOGE) currently encounters a significant hurdle in its path to bullish continuation; however, successfully overcoming it could potentially lead to a doubling of the price of the meme digital asset.
DOGE encounters a significant obstacle at $0.087 on the weekly chart. This pivotal level is identified by the convergence of the 0.786 Fibonacci level and the 100-week and 200-week exponential moving averages (EMA). Overcoming this obstacle can propel DOGE to almost double its price, targeting $0.14, per insights shared by the crypto analyst Ali Martinez on X November 28.
At the time of press, this cryptocurrency is priced at $0.0836, reflecting a 2.22% increase in the past 24 hours. Additionally, it has seen an 8.09% rise over the last seven days and a month-over-month value growth of 25.35%, based on the latest data retrieved on December 1.
Cardano (ADA)
Another asset that may experience growth soon is Cardano (ADA), with experts saying that this phase has a lot of characteristics similar to its previous consolidation phase.
With the observation of the 4-hour chart, the 100-EMA serves as a rebound zone for ADA, while the $0.396 level poses a strong resistance. The TD Sequential indicates a buy signal in this timeframe near the 100-EMA, suggesting another rebound. Nevertheless, it’s crucial to monitor a 4-hour candlestick closure either above the $0.396 resistance or below the 100-EMA to validate the direction of the ADA trend, as per a post by crypto analyst Martinez on November 27.
Meanwhile, ADA is changing hands at $0.38, experiencing a positive increase of 1.14% in the previous 24 hours; additionally, it lost -2.25% over the past 7 days, contrary to the gains it made in the last month, which amounted to 30.79%.
Hedera (HBAR)
Hedera (HBAR), supported by major players like Alphabet (NASDAQ: GOOGL), Boeing (NYSE: BA), and IBM (NYSE: IBM), operates differently from traditional blockchains. Instead of a blockchain, it employs a method called a hashgraph, where system components communicate to create a timeline of transactions, similar to other digital currencies.
Électricité de France, a leading global electricity producer, the largest renewable energy producer in Europe, and a Hedera Council member, achieved a successful proof-of-concept (POC) on November 29. Utilizing Hedera’s DLT and the open-source Guardian platform, the project automates the issuance and redemption of Renewable Energy Certificates (RECs), signaling a move toward a more efficient and transparent renewable energy market. This milestone underscores the support for Hedera from diverse industries and companies worldwide.
At the time of writing, this asset was trading at $0.06, which showcases a gain of 0.29% over the past 24 hours while losing -2.74% in its value over the past 7 days, contrary to the gains made on the monthly range, which added 17.28% to its value.
The mentioned altcoins exhibit notable strength and potential for substantial future price increases, especially given the positive sentiment and associated developments. Nevertheless, conducting one’s research and risk analysis remains crucial.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
