{"id":304630,"date":"2021-09-15T15:22:00","date_gmt":"2021-09-15T19:22:00","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=304630"},"modified":"2021-09-15T15:22:00","modified_gmt":"2021-09-15T19:22:00","slug":"top-5-cryptocurrency-to-buy-on-strong-price-momentum","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-5-cryptocurrency-to-buy-on-strong-price-momentum","title":{"rendered":"Top 5 Cryptocurrency to Buy on Strong Price Momentum"},"content":{"rendered":"

A strong price momentum is one of the indicators that investors consider before buying cryptocurrencies. The rationale is to get a coin that is performing very well and to get in on the action before the hype fizzles out and the coin heads back to Earth. However, you should know that a strong price momentum isn’t the only thing to consider. Cryptocurrencies can be very tricky, and you need to have everything in order before you invest.<\/p>\n

Below, we’ll consider some of the coins whose prices have performed very well and are ripe for investment:<\/p>\n

1. Polkadot (DOT)<\/h2>\n

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Polkadot<\/a> is one of the most popular blockchain platforms available today. The service is one of the prominent “Ethereum killers”: – blockchains that look to offer an alternative to Ethereum. Polkadot works using an interesting structure – it consists of parachains; individual chains that run concurrently and which get resources from a central Relay Chain.<\/p>\n

The Relay Chain in the Polkadot is what ensures stability and security. It is also responsible for Polkadot’s cross-chain interoperability with other chains. Using this structure, Polakdot can reduce the transaction load on its chain and improve its performance.<\/p>\n

Polkadot’s DOT token has been especially impressive this year. The current market rally has also been good to the coin, with DOT looking to test its all-time high of $49.77 once more.<\/p>\n

Over the past week, DOT has had a mixed performance. The coin started by trading down in tandem with the broader market, but it’s now consolidating again. At a current price of $36.71, DOT is down 2.31 percent in the past day and up 32.13 percent in the past week.<\/p>\n

Technically, DOT is barely holding on. The asset is trading above its 20-day moving average (MA) of $32.32, but it is now lower than its 200-day MA of $36.66. The coin will need to post gains for the next day or two to get back above these levels.<\/p>\n

DOT’s relative strength index (RSI) is at 66.67, which is quite underbought. The platform’s strong price momentum can be traced to the $9 million raise from decentralized data aggregator SubQuery, which should help improve Polakdot’s integration with the decentralized finance (DeFi) sector.<\/p>\n

Buy Polkadot Now<\/span><\/a><\/div>\n

2. Tezos (XTZ)<\/h2>\n

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XTZ is another coin showing a strong price momentum. The coin governs activities on Tezos – a proof-of-chain, open-source blockchain that has also become very popular in the past year.
\nXTZ has had a solid performance over the past week. The asset is up 63.1 percent in the past week alone, moving from $4.37 on September 8 to a current price of $7.13. The gains appear to be due to increased attention from the non-fungible token (NFT) space. Over the past week, music star Doja Cat was reported<\/a> to have launched an NFT on the Tezos blockchain. Reports<\/a> also confirmed that the blockchain had recorded over 400,000 daily transactions for the first time.<\/p>\n

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• @DojaCat<\/a> EXCLUSIVE NFTS JUST DROPPED ON https:\/\/t.co\/QFo70vrSdo<\/a>!!!!!! 💜✨☄️ #PlanetDoja<\/a> #OwnMusicHistory<\/a> • pic.twitter.com\/utKya6RvuM<\/a><\/p>\n

— Superlogic (@getsuperlogic) September 9, 2021<\/a><\/p><\/blockquote>\n