We’ve seen a slight uptick in the cryptocurrency markets, which is actually a pretty good sign. On the other hand, there were altcoins that fell even during these rises. Although this situation is annoying for existing investors, it can also be used as a good buying opportunity for new investors who want to jump on the train.
The crypto-themed YouTube channel CryptoBusy shared three altcoin suggestions that offer great potential in the current situation. According to the channel’s host, investors can make a nice profit if they are patient with these three altcoins.
VeChain (VET)
The first altcoin that the channel’s host thinks has great potential VeChain (VET) it happened. VeChain is a versatile enterprise-grade Tier-1 smart contract platform. VeChain started its operations in 2015 as a private consortium chain working only with a number of businesses to explore blockchain applications. VeChain had planned to begin its transition to the public blockchain with the ERC-20 token VEN in 2017, before launching its own mainnet using the VET token in 2018.
According to the host of the channel, VET is at a really good level right now as the price managed to climb as high as $0.089 during the big rise. The price nearly doubled during that period and then dropped as low as $0.05. VET, which cannot hold that level, is currently trading around $0.043 and $0.044.
According to the presenter, this can present a good opportunity for investors in terms of average cost and can generate more profits. This is a pretty good field to return to and can ultimately yield between 40% and 50%.
Left (LEFT)
Yes, Left (LEFT) it’s on this list, which is hardly surprising to many people. Although SOL makes its investors sad from time to time, it always tries to protect its potential. The Solana blockchain offers a wide range of functionality with enormous potential. Solana is basically based on the permissionless nature of blockchain technology and is open source besides its functionality. One of his areas of focus is DeFi solutions.
According to the analyst, SOL has recorded a significant decline of 35% on average so far and needs a 52% rise to bounce back to highs. So the current level can offer a good opportunity to buy. On the other hand, traders who want to make a really good profit should patiently wait for a potential buying area. Including this level, you can identify a support base and buy in the region of $95-100.
If we accept that the price is currently around $ 93, this price may even decline to $ 85 levels. Overvalued to return to all-time high for Solana; only 175% from our purchasing region, which sounds great considering.
Zilliqa (ZIL)
Zilliqa (ZIL) had a tremendous rise. It has become one of the most talked about projects in the crypto world, recording a massive 504% rise from $ 0.038 to $ 0.23. Moreover, he achieved all this rise in less than a month.
Of course, the price entered a correction process after that level and fell. While this is upsetting for investors, the current 61% correction isn’t bad for investors looking to jump on the train. There is a demand level on the daily chart. Other than that, it could be a great level to get involved.
On the daily chart the RSI is falling, probably below it or in the oversold zone and we are resting a bit on this oversold, on the four hour chart maybe we can create something like a bullish divergence. So we have to wait and see what happens to Zilliqa.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.