In the wake of Bitcoin’s (BTC) impressive rally, culminating in an exceptional 29% appreciation during the month of October, a concurrent uptrend has been observed across the broader cryptocurrency market.
Notably, alternative digital assets with robust fundamental attributes and promising technical indicators, alongside continuous enhancements to their underlying blockchain architectures, are garnering increased attention from the investment community.
With this in mind, Finbold used fundamental indicators and technical analysis to help us present the potential good picks that are trading under $0.10 at the time of the press and have a good potential of yielding profitable returns.
This brief list, considering multiple factors, can not guarantee any positive returns and must be used with caution. These picks should be one small part of a more extensive work of proper individual research and due diligence to mitigate investment risks and increase the expected results on each purchase.
Dogecoin (DOGE)
Since its early days in 2021, Dogecoin (DOGE) has gained fame as one of the favorite and most popular meme coins in the crypto market.
On October 29, renowned cryptocurrency analyst Ali Martinez revealed a major bullish movement for this crypto asset.
According to Martinez, Dogecoin is showing “promising signs,” with the cryptocurrency “breaking out of a multi-year descending triangle on the weekly chart.
Martinez noted:
“The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces #DOGE bullish outlook.”
At the time of press, DOGE was traded at the price of $0.07, which shows a -2.71% change over a 24-hour period, but it has recorded a positive monthly change of 10.77% and has experienced 18 green days in the same period, with a high level of liquidity.
Hedera (HBAR)
Following its noteworthy ascend to fame, accompanied by multiple partnerships by its blockchain project with auto giants Kia and Hyundai, Hedera (HBAR) has garnered the attention of crypto investors worldwide.
With the announcement of ‘WalletConnect for Hedera’ – “Hgraph is leading a joint initiative with key wallet providers to create a unified WalletConnect solution for the Hedera ecosystem. This streamlined library will simplify processes for dapps and pave the way for accelerated mass adoption.” It is showing a serious commitment to becoming a major asset in the crypto world.
Cronos (CRO)
With the recent news from the custody provider Atato of its integration of the Bring-Your-Own-Chain (BYOC) network with the Cronos (CRO) chain and XRP Ledger, to eliminate the coding processes, as well as offer more robust security, flexibility, and functional efficiency for crypto assets.
It’s currently trading above its 200-day simple moving average (MA) and close to its cycle high.
While the mentioned cryptocurrencies may currently face pressure, the dynamic nature of the digital asset realm suggests that unexpected breakthroughs remain a possibility.
On the other hand, it’s important to remember that crypto assets primarily depend on the overall market sentiment, a key factor to track when entering the market.
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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