As the crypto currency market continues its muted recovery, there are always some coins which look better than others for a rebound. Some have bounced considerably over the past 7 days. Top 5 rebound coins are always around and lurking.
The latest FUD over regulatory issues for Binance in the UK have not had such a negative effect on the market. This is strange as usually most of the top coins start an inexorable decline after such announcements. Binance actually gained 8% after the news and is touching the $300 level again!
Let’s take a look at those five coins which we believe are going to make the best comeback and which are the 5 rebound coins to buy.
Top 5 Rebound Crypto Coins To Buy
1. Ethereum (ETH)
Ethereum has had a battering of late and has sunk considerably from its all time high of $4600 in late April/early May. Over the past few days it broke the $2000 support level and at one point was considerably down from that settling at around the $1750 mark. It recovered over the past 48 hours and is now well over the $2000 mark and appears to be testing resistance at the $2200 level.
The price rose by at least 10% overnight so it does seem that the rebound has legs. If resistance levels of $2200 are broken, then the price could easily rise to the $2900 level in a few days. This would represent a 30-40% gain over the lows of $1700 reached just yesterday. Ethereum remains a solid BUY for a good rebound
2. Dogecoin: Has The Dog Got Legs?
The popular dog themed cryptocurrency has been in rather dire straits of late. Although it has recovered somewhat from its recent low of around $0.15, the gains have not been as good as expected. However, the price is now moving between the $0.25 and $0.26 level with the potential of a quick leg up if resistance is broken.
Theoretically, Doge’s next price point is around the $0.37 mark if bullish sentiment in the market prevails. That could lead it to achieve another high of around $0.50 where it be well on its way to test the recent late April/early May highs of $0.75. There could also be negative market sentiment that could drag Doge down once again but that looks unlikely at this stage. The BUY recommendation for DOGE remains the case here.
3. MIOTA: A Bull Waiting In The Wings?
IOTA is being touted as the next cryptocurrency to explode in 2021. Although it has dropped back considerably from its recent highs, the coin has still appreciated by about 300% in 2021. It is currently trading at the $0.82 mark which is up from its June low of $0.68 but considerably down from the high of $2.50 registered in late April.
It does seem that MIOTA is on the way up and if it breaks the $0.85 resistance level, it could easily test the $1 mark again. There appears to be confidence in the technology behind the project too. However recent crypto sentiment remains on the bearish side so one has to tread with caution too. Still, IOTA remains a solid buy for those who want to continue accumulating their long-term portfolio.
4. Cardano (ADA) Ready For The Charge?
Cardano is another coin which has strong fundamentals and should start a new assault forward. At present, ADA is trading at around the $1.32 mark which is a full 30% over its recent low of $1. With a market capitalization of over $42 billion, it lies in 5th place overall and continues to show considerable potential.
ADA is currently around 50% down from its high of $2.32 registered on 18 May. It has recovered substantially from its low of around $1 and is expected to continue rising in the medium term to around $1.50 if current bullish levels are maintained. Again, a strong BUY recommendation is in order here.
5. Polygon (MATIC) Another coin poised for a strong rebound?
Polygon was another of the great sufferers with the crypto crash decimating at least 70% of its value from its all time high. Still, it remains one of the Top Ten Coins when counting YTD gains at over 6000% so those who were in early are still at the top.
MATIC is currently trading at the $1.15 mark which is an improvement of 5% over the last 24 hours. Although that is well over 60% down from its May and April highs of around $2.40 there appears to be some bullishness about the coin in the short to medium term.
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