Top Cryptocurrencies to Invest In Now – Brett, Jasmy, Tron
Trent Alan
Updated:
June 17, 2024 16:05 EDT
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6 min read
Bitcoin is experiencing a challenging start to the week, with a decrease of over 4% in the past week, dropping below $70,000. Despite a strong beginning to the month, Bitcoin faced resistance at $72,000, leading to a decline that pushed the price below $67,000 by the weekend.
The $65,000 support level is crucial to monitor. If breached, it could lead to further declines towards $64,200 and $61,000. Failing to bounce back from these levels may result in a drop towards the $56,500 support level.
Although there has been a recent dip, Bitcoin’s overall price structure indicates an upward trend. However, establishing a solid foundation is necessary for the cryptocurrency to resume its upward movement.
While the weekly outlook remains positive, Bitcoin must surpass the $67,000 resistance in conjunction with the 50-day EMA to regain momentum. This could potentially lead to a move towards $68,000 and $70,000.
The next significant resistance for a breakout stands at $72,000. Bitcoin’s ability to maintain the $65,500 support level will be crucial in determining the market’s direction in the upcoming days.
Despite Bitcoin facing challenges, some cryptocurrencies, including Brett, Jasmy, and Tron, exhibit potential as the top cryptocurrencies to invest in now, alongside notable ongoing cryptocurrency presales.
BRETT Price Encounter Resistance: Technical Indicators Indicate Potential for Further Consolidation
BRETT price has been on a downward trend since reaching a new all-time high of $0.19550 on June 9. The recent bounce off the 20-day EMA over the past three days has faced resistance at the reverse Fib 0.5 level of $0.16089, as seen in today’s price action.
The 20-day EMA is currently at $0.1302, while the 50-day EMA stands at $0.0920. This suggests a short-term bullish trend, but with the current downtrend, caution is advised for traders.
BRETT’s RSI is currently at 58.40, indicating that the price is not yet oversold. However, with today’s price of $0.14530 down by 8.52%, bearish sentiment is evident.
The immediate resistance zone for BRETT price is between $0.15880 and $0.16428, aligning with the reverse Fib 0.5 level of $0.16089. Breaking through this resistance could signal a bullish reversal.
On the contrary, immediate support is at the reverse Fib 0.236 level of $0.14257, coinciding with the horizontal support zone of $0.13426 to $0.14266. A breach below this support level may lead to further declines in BRETT price.
Traders should closely monitor price action around these key levels as a decisive breakout or breakdown could indicate the future trend for BRETT price.
While the current downtrend calls for caution, the short-term bounce off the 20-day EMA and RSI not being oversold could present an opportunity for a short-term rebound. Nevertheless, traders should conduct thorough research and manage risks carefully.
Looking for a Breakout? JASMY Price Shows Promising Signs
JASMY price is trading at $0.037536, down by 2.09% for the day. While technical indicators suggest some bullish sentiment, the overall outlook remains cautiously optimistic.
JASMY’s RSI at 59.47 indicates that the price is in the neutral to overbought territory, hinting at a potential correction or consolidation ahead.
The 20-day EMA at $0.0346 serves as immediate support, offering a possible price floor. With the 20-day EMA above the 50-day EMA of $0.0291 and the 100-day EMA of $0.0240, there is potential for continued upward momentum.
However, recent downward movement in JASMY price highlights the importance of closely monitoring market sentiment. This downturn could signify short-term profit-taking or a pause before a further upward push.
Traders should be mindful of immediate support levels at the 20-day EMA of $0.0346, followed by the horizontal support level of $0.0333 to $0.0314. A break below these levels could signal a downtrend towards the 50-day EMA level of $0.0291.
Conversely, surpassing the current swing high/YTD high of $0.041598 could indicate a bullish breakout, propelling JASMY price to higher levels.
Overall, technical indicators suggest that JASMY price may be consolidating before its next significant move. While bullish signals are present, recent downturns and the overbought RSI point to potential near-term volatility.
Investors should closely track price action and technical indicators to determine the direction of JASMY price in the days ahead.
As established projects like BRETT, JASMY, and TRX navigate the market challenges, crypto presales offer a unique opportunity for investors to access promising cryptocurrency projects before they reach the mainstream.
TRX Price Forecast: Consolidation Prior to Potential Surge?
TRX price has been range-bound around its 20-day EMA of $0.1162 after retracing to this level over the weekend. This consolidation implies that a significant move could be on the horizon.
Technical indicators provide mixed signals, with TRX’s RSI at 53.16 indicating a neutral zone. However, the ongoing attempts to break above the 50-day EMA of $0.1174 suggest that buyers are still active.
Immediate resistance lies at the 50-day EMA, a level TRX has struggled to breach recently. A successful breakthrough could signal further upward momentum towards the 100-day EMA of $0.1181.
Failure to surpass the 50-day EMA might result in a pullback to the 20-day EMA or lower. With the current price slightly below the 50-day EMA at $0.11729, TRX is in a precarious position as it seeks to regain upward momentum.
Traders should be cautious of a potential break below the 20-day EMA, which could trigger a sharper decline in TRX price. In the short term, price movement could go either way, depending on the outcome of the current consolidation.
A successful breakthrough of the 50-day EMA could indicate a strong bullish trend, leading to further gains in the days ahead.
Early Access, High Gains? The Best Cryptocurrencies to Invest In Might Be in Crypto Presales
Experienced traders are constantly seeking high-potential alternatives to Bitcoin for portfolio diversification. While established altcoins offer a familiar approach, crypto presales present a less explored strategy with potential for higher returns.
Crypto presales provide an opportunity to acquire tokens at a discounted price before they enter the open market. This early access can maximize returns for investors who identify promising projects.
Web3 projects and protocols leverage presales to raise capital and drive their development, offering benefits to investors who comprehend the market intricacies.
Success in this field hinges on identifying projects with strong foundations. Investors must thoroughly evaluate the team, project vision, and real-world use potential.
While careful consideration is essential in this complex market, Cryptonews.com has compiled a list of 15 Bitcoin alternatives currently in presale that exhibit promise for growth and could be considered the best cryptocurrencies to invest in now.
15 Best Crypto Presales to Invest In
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. Loss of capital is possible, and investors should exercise caution.