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Finbold

02/16/2024

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4 cryptocurrencies under $1 to buy next week

Expert cryptocurrency traders eagerly await an altcoin expansion that could happen at any moment. Thus, Finbold selected four cryptocurrencies under $1 to buy next week and navigate the expected...

4 cryptocurrencies under $1 to buy next week

Expert cryptocurrency traders eagerly await an altcoin expansion that could happen at any moment. Thus, Finbold selected four cryptocurrencies under $1 to buy next week and navigate the expected altseason.

Nevertheless, it is important to understand that cryptocurrency value is better measured through market capitalization instead of unitary price. This is because cryptocurrencies can be created with arbitrary supplies.

Essentially, even tokens trading below $1 can already have a huge market cap, with limited growth capacity. In this context, we selected four cryptocurrencies from different levels of capitalization.

Buy Radix (XRD) below $1 billion market cap

First, Radix (XRD) could reach a $1 billion market cap in 2024. XRD is currently trading at $0.042 with a sub-$500 million capitalization.

Picked for you

Notably, the promising layer-1 DeFi blockchain native token has apparently broken out of a downtrend from April 2023. XRD traded above $0.14 per token back then, and a favorable price action could fuel growth next week.

XRD/USD daily chart. Source: TradingView (Finbold)

Algorand (ALGO) above $1 billion market cap

Second, Algorand (ALGO) is another low-cap cryptocurrency with a $1.57 billion market value. ALGO, the token, broke out from a short-term triangle in early February and is keeping an uptrend at $0.195 per unit.

If Algorand maintains this strong momentum illustrated by its 66.06 daily Relative Strength Index (RSI), the eco-friendly layer-1 blockchain could seek a notable price resistance at $0.24.

ALGO/USD daily chart. Source: TradingView (Finbold)

Is VeChain (VET) ready for massive growth under $1?

Recently, Finbold reported VeChain (VET) as a trading opportunity at $0.035, following an analysis by the expert Ali Martinez. VET has a $3.45 billion market cap and could see a surge of 1,900%, according to Martinez.

“If history repeats itself, VET could be looking at a move to $0.054 this week, a brief correction until June, and then a bull run to $0.70 by November!”

– Ali Martinez (@ali_charts)
VET/USD weekly chart. Source: Ali Martinez (@ali_charts)

Cardano (ADA) for well-established projects

Finally, Cardano (ADA) is the pick for investors who prefer cryptocurrencies under $1 with larger capitalization. ADA is trading at $0.60 despite having more than $20 billion in market cap, fighting to overcome this resistance.

Interestingly, the token broke out from a multi-year downtrend in October 2023 with improvements in its DeFi ecosystem. In this context, Cardano added over 5,000 smart contracts in February.

Moreover, Cardano’s founder recently urged the cryptocurrency community on the dangers of Legacy financial institutions for the decentralized landscape.

ADA/USD weekly chart. Source: TradingView (Finbold)

All in all, the cryptocurrency market is facing regulatory pressures and is still a highly volatile environment. Investors must know the risks and uncertainties before deploying capital to cryptocurrencies under $1.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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