Incorporate these exceptional new altcoins into your investment portfolio
As the bullish market gains momentum, investors and enthusiasts are actively searching for promising altcoins that have the potential to generate significant returns. With Bitcoin steadily approaching a new all-time high and the overall cryptocurrency market valuation inching towards a remarkable milestone of $2.50 trillion, meme coins like DOGE, SHIB, and PEPE have captured the attention and investments of the community.
Given the current market conditions, let’s explore the top new altcoins that are poised to make a significant impact and potentially enhance your investment portfolio in this dynamic market.
Oasis Network (ROSE)
The native token of the Oasis Network, ROSE, has been experiencing a steady recovery over the past few weeks, thanks to an ascending trendline. This dynamic support has provided a suitable demand price during pullbacks, which is essential for sustainable recovery.
During the end of February, as the broader market began to recover, the price of ROSE surged by 32% in a week, surpassing the key resistance level of $0.132. This breakthrough served as another stepping stone for the ongoing rally.
If ROSE can maintain its position above $0.13, it has the potential to rise further and challenge the target of $0.20.
PYTH Network (PYTH)
The price of PYTH coin has experienced a recovery over the past month, following a rising channel pattern. This chart setup has propelled the asset from $0.21 to its current trading price of $0.65, resulting in significant gains.
Currently, sellers are exerting their influence on this coin, as evidenced by a minor correction in the daily chart. If selling pressure continues, the price may drop by another 8% to test the long-term support trendline.
Considering the bullish sentiment in the broader market and the history of accumulation during dips, it is likely that the price of PYTH will rebound from $0.55. The next recovery leap could potentially push the price to a breakout at $0.76, reaching the psychological mark of $1.
Shiba Inu (SHIB)
Meme cryptocurrencies have emerged as the star performers of March, contributing significantly to the global crypto market cap reaching $2.5 trillion. SHIB, the second-largest memecoin, has demonstrated parabolic growth in the daily chart, increasing from $.00000651 to $0.00003941 within a month.
Analyzing this substantial rally in the weekly chart reveals the formation of a well-known bullish reversal pattern called the rounding bottom pattern. This chart setup suggests the end of a downtrend and the emergence of a new recovery trend.
Under the influence of this pattern, the Shiba Inu price may continue its recovery trend and potentially reach $0.000066, followed by $0.00010477.
BONK (BONK)
The correction trend in the Solana-based memecoin, BONK, ended in late January at the support level of $0.000009574. The positive turnaround from this point has propelled the coin to a new all-time high of $0.00004749.
However, BONK is currently undergoing a post-rally correction, causing its value to decline to the $0.000030 mark. If this healthy retracement manages to recover the exhausted bullish momentum, potential buyers may find dip-buying opportunities at the fast-moving daily EMAs (20 and 50).
According to the Fibonacci retracement tool, the renewed recovery may target $0.000032 and $0.0000462, aligned with the above Fibonacci levels, respectively.
Gala Games (GALA)
Over the past 18 months, the GALA coin has experienced a steady downtrend due to a falling wedge pattern. Although the converging trendlines have limited the recovery attempts by buyers, this pattern typically signals the exhaustion of bearish momentum.
Recently, amidst the market’s recovery trend, the GALA price decisively broke out from the pattern’s overhead resistance on February 26th. This breakout resulted in a 42% surge in the altcoin’s price, bringing it to the current trading price of $0.046. With sustained buying pressure, the GALA price is expected to target theoretical levels of $0.070 and $0.10.