Altcoins like Cardano (ADA), Shiba Inu (SHIB), and XRP are currently presenting attractive buying opportunities in the cryptocurrency market, despite the ongoing uncertainties. Recent data from the on-chain data platform Santiment indicates that these altcoins are in the buying zone, with their Relative Strength Index (RSI) showing favorable buying signals.
Cardano (ADA) stands out as a top candidate for low buy potential, with an RSI value of 32. Analysts suggest that buying ADA at its current level could lead to significant returns, considering its significant potential. The current trading price of ADA is $0.4475, but experts believe it could reach $0.75 again this year.
Following ADA, Shiba Inu (SHIB) also remains in the buying zone, with an RSI of 38. This places SHIB second on the potential low buy list. Investors looking for substantial profits during this bullish season are likely to consider investing in SHIB. The price of SHIB experienced a notable increase during the meme coin craze in March, and the Shiba Inu team announced various developments, including raising $12 million through the TREAT token.
Meanwhile, the direction of XRP’s price remains uncertain due to the ongoing Ripple vs SEC case. The RSI value of XRP is at 46, indicating a neutral outlook. The price of XRP is currently trading around $0.52, and it appears to be avoiding major price movements due to the uncertainty caused by the SEC case. The expectation is that the XRP case will conclude this year with a final decision by Judge Torres in September.
In terms of Bitcoin prices, there has been a recent minor rise after reaching an all-time high of $73,500. Experts predict that prices could exceed $100,000 this year, including figures like Standard Chartered, Michael van de Poppe, and Ali Martinez. The recent net entries of $217 million in US Bitcoin ETFs have sparked hopes of a rally. Wall Street is anticipating a rise in BTC linked to increasing expectations of rate cuts by the Federal Reserve (Fed).
At present, Bitcoin is finding buyers at $63,000, following a 1% drop in the last 24 hours. The trading volume has decreased by 14%, indicating a lack of interest among investors. However, if BTC manages to break above $65,000, it could lead to an upward momentum towards $80,000.
It’s important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
