Altcoins with Potential for Growth in the Crypto Market - Latest cryptocurrency news

Altcoins with Potential for Growth in the Crypto Market

Unlike investors focusing on major cryptocurrencies, the crypto market also holds potential for growth in lesser-known altcoins trading below $1. However, it should be noted that these altcoins carry higher risks.

Dogecoin (DOGE) is facing a hurdle in its growth at the $0.087 resistance level, which is calculated by the intersection of the 0.786 Fibonacci level and the 100 and 200-week exponential moving averages (EMA), according to analyst Ali Martinez’s November 28 post. If expectations are met, DOGE’s price could nearly double and reach $0.14.

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Cardano (ADA) is also expected to experience growth in the near future. Experts note that the current phase of ADA bears many similarities to its previous consolidation phase. The 100-EMA on the 4-hour chart is seen as a recovery zone for ADA, while the $0.396 level forms a strong resistance. Martinez stated in a November 27 post that for ADA to confirm its trend direction, a 4-hour candle needs to close above the $0.396 resistance or below the 100-EMA.

Hedera (HBAR) operates differently from traditional blockchains with the support of major companies like Alphabet (NASDAQ: GOOGL), Boeing (NYSE: BA), and IBM (NYSE: IBM). Using a method called Hashgraph, it communicates with system components that create a transaction timeline, similar to other cryptocurrencies. Électricité de France, Europe’s largest renewable energy producer, announced a successful proof of concept (POC) as a member of the Hedera Council on November 29, exciting investors and industry enthusiasts.

At the time of writing, HBAR was trading at $0.06 with a 0.29% increase in the past 24 hours. On a monthly basis, HBAR has shown a 17.28% increase, but it has experienced a 2.74% decrease in the last 7 days.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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