3 cryptocurrencies under $0.10 to consider buying next week
With a vast variety of cryptocurrencies available to speculate on, crypto traders and investors often look for ways to categorize the cryptocurrency market in order to evaluate a group of projects they might have an interest in.
After a recent sell-off, many cryptocurrencies are showing signals of being oversold, which could offer a buying opportunity for speculators looking for an entry point.
In this context, Finbold has turned to project fundamentals, technical analysis, and leading indicators in order to select three possible good picks under $0.10 to consider buying next week.
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, in order to mitigate investment risks, and increase the expected results on each purchase.
IoTeX (IOTX)
IoTeX (IOTX) is trading at $0.0179 by the time of publication, in a monthly uptrend with over 18% gains in the last 30 days. This demonstration of strength continues after a price retracement from October 16, when IOTX traded as high as $0.193 per token.
IoTeX has a unique proposition of being the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. The demand for its native token IOTX is correlated to the demand for its real-life products, such as the UCam or Pebble.
Interestingly, data retrieved from IntoTheBlock shows that 42% of all IOTX holders are in profit at the time of publication, and 83% of them are invested for over a year. This shows a high conviction in the project, which could indicate that any further growth would be more sustainable in a larger time frame.
Status (SNT)
Status (SNT) is trading at $0.026 by press time, up 16% in a month. SNT recently broke out from a resistance zone, but it is already close to the token’s local high at $0.027. A subsequent break out followed by a re-test in this mark could create another bullish momentum for the project.
Status is a mobile and desktop operating system and decentralized browser that incorporates a messaging system. Additionally, it allows users to connect to a network and send messages through cryptographic pseudonymous, which offers a more private experience.
It is important to say that SNT is a governance token used to propose and vote on governance proposals related to the Status ecosystem. It can also be used to unlock features within the application that is also a light node connected to the Ethereum Network.
Radix (XRD)
Radix (XRD) is trading at $0.043 by press time, with accumulated losses of close to 25% in the last 30 days. Differently from the other two cryptocurrencies under $0.10, XRD is showing weakness with a low Relative Strength Index (RSI). Therefore, its RSI also indicates that the token could be oversold at this point.
Radix has earned attention from tech enthusiasts in the industry due to its bold claims of being able to maintain atomic composability while using a sharding system, designed to scale higher than usual layer-1 blockchains, without trading off its reliability.
However, XRD is still in its early phases, and its ability to deliver the promises will need to be proved over time. The token also has inflationary tokenomics, with only 42% of the entire supply already in circulation.
Notably, investors must be aware that a cryptocurrency trading under $0.10 does not necessarily mean that it is at a discount, a “low cap,” or the equivalent of a “penny stock”. Tokens with high circulating supplies could have gigantic market capitalization even at these prices.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.