There is a wide variety of cryptocurrencies available to speculate on. That’s why crypto traders and investors often look for ways to categorize the cryptocurrency market to evaluate a group of altcoin projects they’ll be interested in. Following the recent sell-off, many tokens are showing oversold signals. According to crypto expert Vinicius BarbosaThis may also be a buying opportunity for investors looking for an entry point. The expert selected three sub-$0.10 projects that have this potential.
First ranked altcoin: IoTeX (IOTX)
IoTeX (IOTX) has gained over 18% in the last 30 days. Thus, it maintained its monthly upward trend. The token was trading at $0.0179 at the time of writing. This show of strength continues after the price pullback on October 16, when IOTX traded as high as $0.193 per token.
IoTeX has a unique proposition of being the decentralized backbone for the machine economy, serving machines ranging from smart home devices to autonomous vehicles. The demand for its native token, IOTX, correlates with the demand for its real-life products like UCam or Pebble. Interestingly, IntoTheBlock data shows that 42% of all IOTX holders are in profit. It also reveals that 83% of them have been invested for more than a year. This is a sign that faith in the altcoin project is high. Therefore, this shows that further growth is possible.
Status (SNT) comes in second place
At the time of writing, Status (SNT) was trading at $0.026, up 16% in one month. The altcoin recently broke out of a resistance zone. But it is already close to the token’s local high of $0.027. A subsequent breakout followed by a retest of this mark could create another bullish momentum for SNT.
Status is a mobile and desktop operating system that includes a messaging system and a decentralized browser. It also allows users to connect to a network and send messages via cryptographic pseudonym, which offers a more private experience. It is worth noting that SNT is a governance token used to propose and vote on governance proposals regarding the Status ecosystem. It also unlocks features within the app, which is a lightweight node connected to the Ethereum Network.
Last ranked altcoin: Radix (XRD)
Radix (XRD) was trading at $0.043 at the time of writing. The token has lost nearly 25% in the last 30 days. XRD is showing weakness with a low Relative Strength Index (RSI), unlike the other two cryptocurrencies below $0.10. Therefore, the RSI also reveals that the token may be oversold at this point.
Radix uses a sharding system designed to scale higher than regular layer-1 blockchains without sacrificing reliability. The altcoin project makes bold claims about maintaining atomic merging capability. Therefore, it attracted the attention of technology enthusiasts in the industry. However, XRD is still in its early stages. So its ability to deliver on its promises will need to be proven over time. The token also has inflationary tokenomics. Additionally, only 42% of the entire supply is currently in circulation.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing. Additionally, we need to point out that the cryptocurrency market is quite volatile and variable.
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