In a high-volatility space, buying cryptocurrencies can sometimes feel similar to ‘trick-or-treating’ during Halloween festivities. While most value investors and crypto traders are continuously looking for ‘sweet candies’ with good picks to bring positive results, making the right choices can sometimes be ‘tricky’.
It is important to say that this brief list, despite considering multiple factors, can not guarantee any positive returns, and must be used with caution. These picks should be just one small part of a bigger work of proper individual research and due diligence, to mitigate investment risks, and increase the expected results on each purchase.
Additionally, the list was ordered by market cap, and the picks do not include the two leading cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH), that can be bought and held by speculators as part of a hedging strategy, considering their respective soundness as market leaders.
Solana (SOL) has started to show momentum in the last 24 hours, with its Relative Strength Index (RSI) marking 65.7 points in the day, pointing to a strong trend forming the efficient layer-1 blockchain. This happens as SOL gains territory in a larger time frame, slightly moving above the ‘Neutral’ line in the last seven days, for a weekly RSI of 56.79 points.
Moreover, the Solana Foundation recently highlighted that over “31% of [Solana’s] stake [is] running through the Jito Labs client,” meaning the network is now running on multiple clients, evidencing a meaningful increase in its decentralization, from a software perspective.
This further strengthens the project, possibly impacting future price projections. Meanwhile, SOL is trading at $22.91 by press time, with 5.52% losses in the last 24 hours after mostly positive month and year-to-date performances, which could offer an interesting buying opportunity.
In the official month for using disguises while having fun with friends and family, the leading privacy-focused cryptocurrency is also included in this Halloween picks list, as Monero (XMR) consolidates itself in the decentralized money realm, as one of the most used means of exchange in the space.
Interestingly, Monero is the coin of choice in most darknet markets, with some of them restricting its payments to the privacy coin, conquering a space that was mostly dominated by Bitcoin a few years ago.
Privacy-focused Bitcoin wallets are already implementing XMR as a way to boost their users’ experiences. Meanwhile, CoinCards reported — on October 3 — that payments in Monero are very close to surpassing BTC payments as their users’ choices for crypto gift cards.
In this context, XMR is also showing strength in its daily RSI, while trading at $149.53 by press time. Slightly gaining 1.94% in the day.
A riskier short-term investment pick due to its low market cap, and relatively low exchange liquidity, Nano (XNO) possibly offers one of the biggest asymmetries between some solid fundamentals as a decentralized currency and the current perceived value from the market.
Notably, the Nano open-source software is among the projects with the highest scores according to the “Best-of-Crypto ranking” on GitHub, by Lukas Masuch. Sitting side-by-side with the leading projects by market cap.
On October 4, the crypto trading account @holdersignals on X (formerly Twitter) pointed to two technical analysis breakouts for XNO. Both in the daily Bollinger Bands (BB) and a mid-term trending line respected since late 2022, until now.
Meanwhile, XNO is changing hands by $0.64 at the time of publication, with shy 24-hour gains of 1.79%, as it tries to recover from a retracement after a price surge to $0.72 during the first hours of the day.
Nano continues to gather users’ enthusiasm due to its unique characteristics as an efficient medium of exchange for worldwide payments and remittances, by offering zero-fee transactions with extremely fast finality of 500ms on average, according to live monitoring.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.