5 Top Cryptos To Buy If You Are Building Your Portfolio From Scratch

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2 Cryptocurrencies To Buy For A Struggling Crypto Portfolio – Crypto News

Published

12 months ago

June 7, 2024

Dripp

Every investor would be concerned with the position and performance of their portfolios now that we are in June, the last month of the first half of the year. It is a good time to gauge the outlook of the market and possibly consider rebalancing the portfolio. This article will delve into potential cryptocurrencies to buy mainly for investors with portfolios struggling to stay afloat.

1. JasmyCoin (JASMY)

JASMY price has been making higher highs for the past 10 days and may soon be due for a retreat. However, the price is still trending above the 50-day and 200-day simple moving averages (SMA), and strong support is forming around the 0.5 Fibonacci retracement level. The price of JASMY surged higher and posted a new high at $0.0425 before correcting back by 8%.

On the 30-minute chart, the price of JASMY is currently supported by the top of a range ($0.0372) from which it previously broke out. If price action breaks below this level, it may enter back into the range.

Additionally, below the range, the 0.5 Fibonacci retracement level coincides with a fair value gap (FVG) yet to be filled, confirming the possibility of a 23% retracement from the current price. Conversely, bulls may still compete to push the price higher, aiming for $0.049, $0.059, and $0.064. They may encounter some weak resistance around the $0.042 area.

JASMY’s price could rebound following the impending retracement, but investors in the crypto community are apprehensive about a significant pullback for the coin. The surge in JasmyCoin followed a misunderstanding of Apple’s recent announcement about integrating Japan’s ‘My Number’ feature into their iPhones.

2. Pepe Coin (PEPE)

Meme coins in both the Ethereum and Solana ecosystems have been making significant headways—some outperforming Bitcoin and major altcoins. After Pepe reached a new all-time high in May, Floki advanced to a new record high this week.

Whales have been the biggest drivers of the meme coins’ rally seeing that they move billions of tokens. Unfortunately, whales also significantly contribute to volatility in the market and can trigger major losses affecting smaller holders the most.

Meanwhile, the four-hour chart reveals an ascending triangle pattern, which if validated can lead to a 15% move in the price of Pepe. This triangle has been forming as the token consolidate in the wake of the rally to the record high.

the triangle is still valid as long as the price is within its boundaries. Traders would be ready with buy orders slightly above the x-axis. Such a breakout should be accompanied by high volume. The 15% move will propel PEPE price to $0.0000178 and possibly create FOMO among investors wishing to jump onto the trend. This triangle can be the beginning of a larger rally above $0.00002.

JASMY and PEPE are some of the trending cryptocurrencies to buy to revive any struggling portfolio. Therefore, as traders rebalance portfolios in June they may consider adding the two tokens. The upswing in Bitcoin price to $72,000 this reinforced the bullish outlook and the long-term bull market. Investors must prioritize their research before holding any cryptocurrency to buy.