As Ethereum continues to gain traction, savvy investors are increasingly eyeing lesser-known altcoins with low entry points and high upside potential. While ETH may be the frontrunner in this bull cycle, several underdog tokens are positioning themselves for significant gains. In this article, we spotlight three budget-friendly altcoins—Algorand, Ethena, and Bonk—that show signs of strength despite recent market challenges, and could potentially outpace Ethereum’s momentum in the months ahead.
Algorand's Price Struggles But Shows Signs of Hope
Source: tradingview
Algorand (ALGO) is hovering between twelve and eighteen cents. Despite a tough month, where it lost nearly a quarter of its value, there is a glimmer of hope as it inches up by about two percent this week. It's sitting close to its 10-day average, suggesting possible short-term stability. If it breaks the nearest resistance around twenty cents, it could climb to the next level at over twenty-three cents, marking a jump over thirty percent from current levels. The RSI indicates it's not oversold, hinting that there might be room for growth. However, with a six-month drop of over fifty percent, it still has a challenging path ahead.
Ethena's Price Struggles: Can It Rebound?
Source: tradingview
Ethena (ENA) sees its price floating between twenty to thirty cents, showing signs of a battle. It’s sitting below its ten and hundred-day averages, suggesting recent weakness. This trend is evident in Ethena's sharp drop over the past month, plummeting nearly forty percent. The six-month picture is even bleaker, with a fall of over seventy percent. Despite these challenges, if Ethena can climb to its nearest resistance of thirty-five cents, it would mark a potential uplift of around fifteen percent. A more optimistic leap targets forty-four cents, indicating possible gains of over sixty percent. Recent low volatility suggests a potential price consolidation phase that could offer some hope for upward movement.
Bonk Coin Eyes Recovery After Recent Price Dip
Source: tradingview
Bonk (BONK) is currently priced between $0.00001029 and $0.00001501, showing a dip over the past week and month. Despite this, there's potential for a rebound. The nearest resistance level is around $0.00001781, a point the coin might aim for if bullish momentum picks up. This would mean an uptrend of around 70% from its lower current price range. However, the crypto is still below its 100-day moving average, indicating some struggle. With an RSI of 46.51, BONK isn't yet in the oversold zone, suggesting there might be room for growth as investors watch for a bounce back from recent declines.
Conclusion
While Ethereum remains a benchmark in the crypto space, it’s the lower-priced altcoins like ALGO, ENA, and BONK that may offer outsized returns for risk-tolerant investors. Each faces its own hurdles, but their technical setups hint at recovery potential and breakout opportunities. As market sentiment shifts, keeping an eye on these discounted tokens could prove to be a smart move for those looking to ride the next wave of altcoin growth.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
