Bitcoin price swing back above $60,000 on Friday triggered gains among altcoins, with some posting double-digit movements in less than 24 hours. The slide in prices earlier in the week revealed the vulnerability and uncertainties of the crypto to buy assets, which investors must contend with and know how to navigate to ensure they are building long-term value.
As you may already know, narrowing down to the most viable crypto to buy to include any portfolio is not an easy task. It is tedious for experienced investors and borderline an uphill battle for novice investors.
Some of the tokens to consider including in the crypto portfolio as Bitcoin price swings back in the green after a gruesome massacre which saw dips extend to $56,500 support, are Terra Classic (LUNC) and Toncoin (TON).
1. Toncoin (TON)
Toncoin, the token associated with Telegram, one of the largest social media ecosystems, exploded in double-digit gains, marginally surpassing the $5 mark highlighted in the title. However, the potential TON promises investors has earned it a spot on this list.
Toncoin has rapidly emerged as a significant player in the cryptocurrency market, reaching a notable market cap of $18.87 billion and securing the ninth position. Its 24-hour trading volume has escalated by 31%, hitting $261 million, demonstrating robust investor engagement and confidence in its potential. This uptick is a positive sign, reflecting the market’s optimism about Toncoin’s future.
Toncoin’s value rose from $4.5 to over $5.4 last week, showcasing a consistent upward trend. This increase of more than 2% positions it as one of today’s top performers in the market, highlighting a strong recovery and sustained investor trust. TON is experiencing a significant rise, suggesting it might soon enter a bullish phase.
TON could surpass the $6 resistance barrier if the current upward trend persists. With sustained momentum, its value could approach the $10 level and potentially hit $20.
2. Terra Classic (LUNC)
Terra Classic suffered a big blow, bearing the brunt of the sell-off, which many believed was accentuated by external headwinds like inflation and geopolitical tensions.
The token whose community is working around the clock to rebuild its image following the Terra Luna crash in 2022, has made significant strides since the last quarter of the year, topping out at $0.0002797 in December and subsequently at $0.00025 in March.
LUNC price fell below the critical $0.0001 support level last month when a candle wick extended to $0.00007115. A reflex recovery occurred soon after but lost steam below $0.00012 resistance.
Terra Classic’s support at $0.00008 coincides with a similar rebound zone in February, highlighting the formation of a double-bottom pattern. This is interpreted as a reversal pattern whose impact on the price can be substantial.
In LUNC’s case, the uptrend gaining traction above $0.0001 could lead to more gains — a 66% move above the black dotted line (neckline). This target is measured equal to the distance between the highest and lowest points, as illustrated on the chart.
Now that the Relative Strength Index (RSI) is above 40 and heading to 50 (the midline), the price increase could continue into the weekend. Although the 66% is a long-term forecast, short and medium-term movements could prove profitable, especially for traders.
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