The cryptocurrency market is rife with opportunities for investors who are looking for low-cost tokens with high potential, prompting the urgent need to explore some noteworthy top altcoins with lower costs and unlimited return potential.
VET
Like the rest of the cryptocurrency market, VeChain (VET) has seen its price plummet this week. The coin initially rose above the key price thresholds of $0.035 and $0.036 on January 1 on the back of bullish momentum. However, this momentum was quickly killed by the bears.
Escalating FUD pushed VET below the $0.035 and $0.036 areas as FUD dropped to a low of $0.02901 on January 3. VeChain last saw the $0.029 area on December 18, 2023, when it bounced past the price area. VET is currently changing hands at $0.02932, down 5.57% in the past 24 hours.
Market watchers believe that the current economic downturn provides an opportunity to acquire VeChain at price levels below $0.030, making it an interesting coin to watch. Despite the downward trend, VET continues to trade above the 50-day SMA ($0.02847) and 200-day SMA ($0.02060).
SHIB
Shiba Inu (SHIB) continues to increase social activity due to its rich community, making it an interesting coin to watch. However, the asset was also caught in the crossfire between bears and bulls on January 3, closing the day down 9.38%.
The stock tried to recover the next day, but the 4.39% gain was not enough to help it regain the $0.000010 price threshold. SHIB is currently trading at $0.00000960, holding above the support at $0.00000957. A sharp decline from this point could lead to a drop to $0.00000907.
SHIB has no substantial resistance point between its current price level and the $0.00001 threshold, with the next key barrier currently located at $0.00001007 (Fibonacci 0.618). Therefore, a recovery in the broader market could help the coin regain the coveted $0.00001 level.
NFT
ApeNFT (NFT) was one of the major beneficiaries of the market’s upward trend last month. The altcoin surged by 31.27% on December 6, 2023, eventually hitting a high of $0.0000004707 and demonstrating its ability to record significant price gains. NFTs have continued to consolidate since their surge in December 2023.
The recent consolidation has formed a bullish pennant, indicating that the price is about to break out. This looming trend makes ApeNFT an asset to watch in the near future. The coin has shown greater resilience amid the recent overall market decline, falling just 5% on January 3.
While ApeNFT is down 2% today with a current price of $0.0000004161, it has been fiercely defending price thresholds of $0.00000041 and $0.00000040, with the next support level at $0.0000004068. The asset needs to overcome the $0.0000004185 resistance level to reclaim the $0.00000042 area.
VTHO
VeThor (VTHO) is another sub-$0.05 altcoin worth noting as it rides on the bullish sentiment surrounding its sister token VeChain. VTHO has been on an impressive upward trend over the past three months, rising by 132% from $0.001393 in November 2023 to $0.003242 in December 2023.
This price marks the altcoin’s highest price since May 2022. However, following the rise, VTHO hit a roadblock and has continued to consolidate since mid-December. Interestingly, this consolidation also resulted in the formation of a bullish pennant for the coin.
The recent market crash had a smaller impact on VTHO, which fell just 4.72% on January 3. The asset recouped all of its January 3 losses the next day, rising as much as 6.29%. Despite two consecutive lower candles, the outlook remains bullish for VeThor, which is currently trading at $0.002269.
SNACK
Snek (SNEK) is a Cardano-based meme coin that deserves a spot on this list due to its encouraging price performance since last month. At the current price of $0.001230, SNEK is up 782% since October 2023, making it one of the best-performing stocks in the pre-bull market period.
Despite being a memecoin, SNEK has responded well to the latest market turbulence, a trend rarely observed among tokens in the memecoin category. The asset is still trading well above the 200-day SMA ($0.0005837) and 50-day SMA ($0.001143), indicating bullish momentum in the short and long term.
SNEK defended support at the mid-December low $0.001175, seeking a move above the $0.001557 area. During a full market recovery, renewed social attention and increased market demand may trigger a sufficient upward trend for the token.
COTI
Coti (COTI) has been one of the biggest victims of the recent market rout, falling 11.52% intraday on January 3. However, this bad luck may be just the trend needed for altcoin prices to rise significantly.
Notably, COTI fell into oversold territory after the crash. The asset’s Commodity Channel Index (CCI) fell to -134 and the Relative Strength Index (RSI) fell to 42.65. The combination of these indicators suggests that the decline has pushed COTI into oversold territory and the asset may be in for a price reversal.
Nonetheless, Coti defended the $0.060 price level, recovering from the January 6 low of $0.06000. Trading volume has dropped 20.74% to $4,605,051 as market participants exercise caution. The asset is currently trading at $0.0629 and is looking to capitalize on renewed investor interest to fuel its next leg higher.
KIN
Kin (KIN) has not performed as well as most altcoins on this list, but its growth potential is still high. The asset gained 62% in 24 hours on December 2, reaching a high of $0.00002480 before facing significant resistance, leading to a pullback.
This retracement continued into the new year, with the coin seeing intermittent dips and gains since December 2023. Although its downward trend is consistent with the latest market shock, Kin fell only 3.48% on January 3, showing more resilience than most crypto assets.
In its downward spiral, KIN’s daily RSI has slipped to 37.85, confirming its oversold position. The asset’s trading volume has dropped 16.50% in the past 24 hours to $310,846, indicating a plunge in interest. KIN must seal a close above $0.00001472 to attempt a recovery.
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