Today, crypto prices fell as Bitcoin lost hold on the $67,000 level. Due to the bearish trend, only a few altcoins showed potential today. Our analysis of the best altcoins to buy today includes Optimism, Starknet, Fetch.ai, and Cronos.
However, this situation provides an opportunity to capitalize on the dip for the Altcoin Season post-halving. Numerous promising low-priced cryptocurrencies afford investors an affordable entry point into the market. Consequently, InsideBitcoins has assembled a list of the top five tokens that align with this description.
6 Best Altcoin to Buy Now
Based on historical data from past bull cycles, it has been observed that the Bitcoin rally usually precedes significant growth in other cryptocurrencies. However, the current performance of the crypto market diverges from popular predictions. This observation is why many traders speculate that funds from the Bitcoin uptrend frequently shift into altcoins.
Considering recent market trends, it’s crucial to reassess our predictions. We are analyzing the performance of several altcoins worth considering. Our primary objective is to identify and provide details about potential investment opportunities.
1. Optimism (OP)
Optimism is a layer-two scaling solution for Ethereum that utilizes optimistic rollups to enhance the network’s efficiency and throughput. This technology is pivotal for Ethereum’s scalability, enabling the processing of more transactions quickly and securely. Transactions on Optimism are swiftly processed and then secured on the Ethereum mainnet, reaping the benefits of Ethereum’s robust security measures.
OP’s price has increased to $2.56, reflecting a 7.67% gain. The token demonstrates a strong support of around $2.30 while closing on a crucial resistance point of $4.62 with notable trading volume.
Technical analysis signals a bullish sentiment, with buyers showing commitment. Optimism’s daily chart shows a new higher low formation while posting a Fear & Greed Index of 65, indicating positive market sentiment. The token trades above its 200-day simple moving average and is near its cycle high, suggesting potential for further expansion.
🔴 Retro Funding Round 4 is Coming this month.
A quick retrospective on the impact over the previous 3 rounds:
– 40M+ OP in grants have been delivered
– 750+ builders, writers, developers, artists and contributors became grant recipients
– Number of eligible applicants rose… pic.twitter.com/1nbCwFldO4— Optimism (@Optimism) May 1, 2024
Furthermore, OP exhibits high liquidity based on its market capitalization. Moreover, it could potentially breach the next resistance level at $2.83 to reach $3.32 if the broader crypto market performs well.
2. Starknet (STRK)
Starknet’s technology addresses the growing need for scalability and privacy in blockchain applications. The token reduces Ethereum’s network congestion, thus ensuring faster, more efficient, and safer transactions. This functionality has expanded its value. The token is expected to grow as its adoption and technology advances.
The outlook for Starknet likely hinges on its adoption and acceptance within the blockchain ecosystem. The potential rewards could be significant as the token expands its utilities and widespread acceptance in the coming months.
Starnet’s token price has experienced notable volatility over the past month, with fluctuations ranging from a high of $2.50 to a low of $0.80. The recent surge in price can be attributed to the announcement of a proposed strategic partnership with a major tech firm, which has sparked investor optimism about the project’s prospects.
April has been another busy month full of surprises ✨
Most notably, the @AvailProject #airdrop for Starknet users, along with several movements from the Starknet Foundation and more!
Stay updated with everything that happened in April in just 5 minutes of reading 👇 pic.twitter.com/uEyPIDOJtq
— Starknet_Digger 🦇🔊 (@Starknet_OG) May 1, 2024
However, this bullish momentum was short-lived as profit-taking and market corrections pushed the price back. Despite this setback, Starnet’s long-term fundamentals remain strong, supported by a growing user base and the continuous development of its platform.
3. 5th Scape (5Scape)
5th Scape is a unique online VR gaming platform. The project seeks to transform user interactions with virtual environments by combining innovation with entertainment. Recent data on virtual reality (VR) gaming demonstrates a steady upward trend, presenting promising opportunities for investors.
Research indicates that revenues in the VR industry will skyrocket to unprecedented levels. With the innovations that the 5th Scape will bring, it has the potential to be one of the next cryptos to experience explosive growth.
Furthermore, the growing demand for immersive experiences and advancements in VR technology will propel this growth. Consequently, analysts and experts anticipate the user base to surpass 6,887 million by 2030, representing a significant increase of 104.9%.
Hey #5thScape fam! 🎮 Just dropping by to share some epic news: our dedicated team has been tirelessly leveling up the thrill factor in our latest project!
🚀 Stay tuned for the most cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024
Moreover, the token enables users to access premium VR content and enhance gaming experiences. This unique digital currency facilitates special features in games and fosters connections within the platform community, indicating potential growth in VR.
5th Scape has raised $5,717,988 in the ongoing presale, indicating significant investor interest. The coin’s listing price is $0.00327, potentially increasing by approximately 365.12%. Investors may consider taking advantage of the current price before it rises further.
4. Cosmos (ATOM)
Cosmos leverages an ecosystem of connected blockchains to offer users a fast, efficient, and inexpensive transaction. It also features a modular framework that demystifies decentralized applications. These unique features have made Cosmos a top player in the crypto market.
ATOM’s price has been oscillating between $7.72 and $8.95, with recent movements indicating corrective patterns. This is supported by key indicators such as the Relative Strength Index (RSI), currently at 34.43, suggesting that ATOM is not in an overbought territory. Additionally, the Stochastic oscillator at 17.40 indicates potential for a price bounce as it approaches the oversold region.
These signals suggest that while ATOM’s price has experienced downward pressure, there may soon be opportunities for a rebound. Looking ahead for Cosmos, the current indicators show a mixed outlook. While the negative MACD Level may indicate a continued downward trend, the coin’s proximity to the oversold territory suggests a potential for recovery.
💥 The @agoric Orchestration launch is approaching!
Join Agoric & Calypso contributors in tomorrow's Interchain Jam Space for a deep dive into the Orchestration API's potential to unify the interchain UX.
Set a reminder ⬇️https://t.co/BMFJKOXkZL pic.twitter.com/JfDLRzTjAG
— Cosmos – The Interchain ⚛️ (@cosmos) May 1, 2024
If the token can surpass the nearest resistance at $9.71, the next target could be $10.95. Conversely, falling below the closest support at $7.24 could lead to prices testing the second support level at $6.00. Investors should monitor the coin’s ability to stabilize and potential triggers that may influence a rebound or further decline.
5. Cronos (CRO)
Cronos has announced plans to expand its global footprint through several initiatives. It has signed renowned music artist Eminem as its celebrity ambassador to replace Matt Damon. Eminem’s involvement is believed to bring a fresh vibe to Cronos’ promotional thrills to the project. This initiative leverages Eminen’s charm and reputation to promote global user engagement and credibility.
Furthermore, Cronos has unveiled a partnership with Galxe to broaden its blockchain functionalities. Integrating Galxe into Cronos will introduce innovative applications like the Cronos Spring Odyssey. This initiative covers four primary themes—gaming, NFTs, DeFi, and meme coins—each introduced every ten days to promote user engagement.
However, Cronos trades at $0.123, which indicates an intraday decline of 5.76%. Over the past week, it has increased by 1.62% but decreased by 13.52% in the last month. Despite recent fluctuations, Cronos has been trading above its 200-day moving average, reflecting an optimistic upward trend.
🌼 Cronos Spring Odyssey: DeFi Town's closing its gates in an hour! 🕒
🎉 But the fun's not over yet: The afterparty continues at NFT festival tomorrow, featuring quests that showcase #Cronos vibrant NFT collections
👉 Final chance to explore DeFi Town: https://t.co/6t8IHktUI2 https://t.co/Pu9NUzQhUF pic.twitter.com/vJcsa2Lc8H
— Cronos (@cronos_chain) May 1, 2024
Moreover, despite investors’ bearish sentiments about the token, its Fear & Greed Index stands at 67. This index, indicating greed in the market sentiment, demonstrates its potential. Analysts expect the value of CRO to peak around $0.42 before 2024 ends. Nevertheless, if market conditions improve significantly, the maximum trading price of CRO could peak at $0.63, indicating substantial growth potential.
6. Fetch.ai (FET)
After weeks of consolidation deadlock, Fetch.ai is finally showing signs of momentum, bringing relief to its investors. Whether FET’s positive price movements are attributable to the recent crypto news regarding Fetch.ai’s planned merger with Ocean and SingularityNet protocols remains unclear.
FET investors and holders of the other two tokens had previously endorsed the merger, valued at $7.5 billion. This merger establishes the “Artificial Superintelligence Alliance,” with ASI as its governance token.
On the price charts, FET has experienced a 40% weekly surge. Experts recommend FET as one of the top crypto coins new investors should hold. Moreover, a significant increase in its trading activities indicates a renewed interest in Fetch.ai. The renewed interest signifies that FET may be on the verge of a significant upsurge.
Recently, we were partners of #LAHacks hackathon at @UCLA, and the @Fetch_ai winners were crowned! 👑
Thank you to EVERYONE who came out and showcased such amazing talent with our #AI Agents, we hope to see you all again next year! 🎉
Let's dive into some of the winners 👀👇 pic.twitter.com/CieMQWkHcM
— Fetch.ai (@Fetch_ai) April 30, 2024
While investors observe Fetch.ai’s AI token project partnership with SingularityNET and Open protocol, Fetch.ai is expected to surge in value and interest. This surge can potentially drive up the value of the FET, creating another bullish market.
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