5 Tokens to Buy Under $1 for Explosive Growth In 2023

The cryptocurrency market experienced a robust resurgence from mid-October, fueled by the burgeoning anticipation of the first Bitcoin spot ETF potentially receiving approval. This excitement among market participants has been palpable, as the U.S. Securities and Exchange Commission (SEC) edges closer to its final decision.

Amidst a recovering market that’s gradually regaining its momentum, there lies a hidden trove of undervalued gems — crypto tokens priced under $1. These tokens not only represent affordability but also carry the promise of significant returns, often overlooked in the shadow of their higher-valued counterparts.

Also Read: Bitcoin ETF Launch Could See $70 Billion Combined Inflows from Stocks, Bonds, and Gold

XRP(Xrp)

Source- Tradingview

XRP, ranked as the fifth-largest cryptocurrency, continues to capture investor attention due to its ongoing legal tussle with the US Securities and Exchange Commission (SEC), with a resolution expected in 2024.

Amid the recent market downtrend, the XRP price trajectory recently underwent a significant correction, retracting from its peak of $0.73 by 22.5% to $0.57. However, this pullback has formed a bullish flag pattern on the daily chart, often seen as a harbinger of a continued upward trend.

A recent surge past this pattern’s upper trendline suggests that buyers are gearing up for a significant upward move. Presently trading at $0.62, the XRP price is predicted to escalate by 35%, targeting the resistance trendline of a more extensive, long-term triangle pattern.

A conclusive breach of this triangle pattern could signal the onset of a robust bull run, marking a pivotal moment for the cryptocurrency.

Cardano(ADA)

Source- tradingview

Concluding the coming declining trend, the Cardano price starts a high-speed recovery rally to end the lower-high streak. With a remarkable recovery of 65% in the last five weeks the coin price exceeds the overhead resistance trend line, signaling a change in market sentiment However, a retest to this breakout creates a pennant pattern in the daily chart.

The bullish continuation pattern leads to a price jump to $0.6 if the bullish trend momentum sustains. In an otherwise situation, a drop to retest the broken trend line is possible.

Mina(MINA)

Source- Tradingview

Following the sharp bearish trend for a long time, the MINA coin price finally started a scheme to reignite the bullish trend. Forming a double bottom pattern with strong support at $0.35, the MINA price action highlights the neckline at $1.24. Currently, the coin price is trading at $0.79 with an intraday growth of 9% and prolongs the weekly recovery to 42%.

Considering the uptrend manages to surpass the overhead neckline at $1.24, the coin price can reach the $2.15 milestone. On the flip side, a pullback nullifying the bullish reversal can drop the price to $0.5.

Hedara(HBAR)

Source- Tradingview

Similar to most altcoin recoveries, the HBAR price is gaining bullish momentum and teasing a trend reversal. The coin price action forms a double bottom pattern in the daily chart with a neckline at $0.076.

With a 1.4% intraday gain, the price is inching toward the pattern’s neckline resistance and currently trades at $0.063. A bullish conclusion fueled by the improving market sentiment could boost HBAR price to $0.11, a 47% increase.

Amid this anticipated rally, the coin buyers may surpass the last swing high of $0.0985 projecting an early sign of trend reversal as per dow theory.

Theta(THETA)

Source- Tradingview

Over the past 18 months, the Theta coin price has witnessed a steady downtrend under the influence of a wedge pattern. However, the recent market recovery fuels the positive cycle within the wedge to give a bullish breakout ending the downtrend streak, the 83% recovery in the last six weeks.

With a 3.84% intraday gain, the THETA price has just entered above the $1 mark. If the coin price sustains the ongoing retest phase above the breached trendline, the buyers could prolong the recovery rally further. A breakout rally fueled by the high anticipations of the new alt season can boost Theta price to potential targets of $1.23, followed by $1.76

BTC vs XRP vs ADA vs THETA Performance

Source: Coingape

A comprehensive year-long analysis comparing Bitcoin (BTC), Cardano (ADA), XRP, and Theta has unveiled unique trends in their respective market performances. Throughout the year, both Cardano and Theta experienced a sideways trend, however, these tokens began to gain momentum, starting in mid-October coinciding with the overall market’s recovery.

In contrast, Bitcoin price has exhibited a more steady and consistent growth pattern over the years.

Meanwhile, the XRP price trajectory has largely been bullish. However, it has faced comparatively higher volatility compared to its peers, presenting it as a potentially challenging investment for those with a lower risk tolerance.

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