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3 cryptocurrencies under $1 to buy next week

3 cryptocurrencies under $1 to consider buying next week .jpg chart

The cryptocurrency market presents a vast array of opportunities, and while the spotlight often shines on major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), there are hidden gems trading below the $1 mark. 

Despite their lower value, these lesser-known altcoins might hold growth potential. However, it’s vital to recognize that they come with a higher level of risk.

For investors who have a higher risk tolerance, allocating 10% to 20% of their investment capital into these altcoins could offer an exciting opportunity to diversify their portfolio and position themselves for significant gains in the potential bull market.

Polygon (MATIC)

Ethereum is widely recognized as the primary platform for smart contracts, but its popularity has led to high gas fees for users. This is where Polygon (MATIC) comes into play – it functions as an Ethereum Layer 2 scaling solution.

Layer 2 solutions are built on top of an existing blockchain to enhance scalability and address issues such as high transaction fees and slow processing times.

Polygon’s main purpose is to help blockchains alleviate these challenges on their chains. The network claims the capability to process thousands of transactions per second (TPS), which is a substantial improvement compared to Ethereum’s TPS rate of approximately 15.

Its native ERC-20 token is currently trading at $0.79, marking a 0.93% increase in the past 24 hours. And based on technical indicators by experts.

MATIC last seven days performance. Source: Finbold.com

Polygon’s 200-day simple moving average (SMA) is estimated to hit $0.93, while the short-term 50-day SMA is estimated to reach $0.86 by the beginning of December.

Matic six months trading chart. Source: TradingView

Also, the Relative Strength Index (RSI) is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). The Matic RSI value is at 51.00, indicating that the MATIC market is neutral, according to 32 experts

Stellar (XLM)

Stellar (XLM), a peer-to-peer (P2P) decentralized network, has recently been on a bullish trendline. XLM is currently valued at $0.12, showing a slight 24-hour increase of 0.3%. 

XLM last 7 days price performance. Source: Finbold.com

“XLM is steady inside the $0.98 zone and waiting for a big surge; it seemed to be ready for a bull run and the first to reach $1”, according to pseudonymous crypto expert Richburst9.

XLM five years trading chart. Source: TradingView

The expert prediction falls short of the highest peak at $0.196 in July, but the project’s success is contingent on the team’s ability to secure partnerships and achieve broader adoption.

XRP

XRP facilitates international money transfers through its blockchain-based payment protocol, and it’s currency trading at 

Last seven days price performance. Source: Finbold.com

The entity provides a platform, RippleNet, enabling quick, cost-effective, and efficient cross-border transactions. Known for minimal transaction costs and rapid processing times, Ripple is often compared to SWIFT, the global payments system widely used by banks.

XRP has gained almost 1.5% today in line with positive market trends in the cryptocurrency sector

The cryptocurrency seems to be breaking out of the bearish pattern in which it has resided since early November, suggesting a possible upswing to $0.65 in the near future, according to the analysis shared by cryptocurrency expert Ali Martinez on November 23.

XRP price action analysis. Source: Ali Martinez

The descending parallel channel is a technical chart pattern illustrating a consistent downward movement of an asset between two trendline barriers, characterized by lower lows and lower highs. Typically, this pattern concludes with a counter-trend upward movement, suggesting a potential upward shift for the XRP token.


Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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