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Jimmy Aki
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Jimmy Aki
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After a sharp price correction on Monday, Bitcoin bounced back on Tuesday, climbing to $92,600 following its descent to multiday lows.
This stabilization has reignited interest in altcoins, with many investors seeking the best crypto to buy now amid heightened market activity.
Bitcoin’s recent turbulence included a 5.6% drop, shedding $5,000 from its price on Monday and liquidating over $500 million in crypto longs.
Despite its milestone of reaching $99,000 earlier, sentiment has shifted, as net outflows from U.S.-based Bitcoin ETFs totaled $438.37 million that same day—the largest single-day drop since the U.S. election on November 6.
Amid this volatility, Fantom (FTM), Arbitrum (ARB), and Bittensor (TAO) present themselves as solid choices for investors seeking the best crypto to buy now to capitalize on the altcoin market’s bullish momentum.
Fantom (FTM): A Top Contender for the Best Crypto to Buy Now
Fantom, a high-performance Layer 1 blockchain, supports decentralized applications (dApps) and smart contracts through its unique Lachesis consensus mechanism.
Trading at $1.04 as of writing, FTM has surged 10.4% in the last 24 hours. This rise extends its recovery from an August low of $0.26, signaling strong bullish momentum.
After consolidating throughout November, Fantom broke through major resistance levels. Technical indicators, including the Relative Strength Index (RSI), suggest further potential for gains.
A breakout above $1.04 could pave the way toward $1.15, while failing to maintain support at $0.83 may signal a correction.
Currently, FTM trades 171.22% below its 2021 all-time high of $3.48. This recovery signals substantial growth potential, reinforcing its position as one of the best crypto to buy now.
Arbitrum (ARB): Ethereum Scaling Solution with Breakout Potential
Arbitrum, a Layer 2 scaling solution for Ethereum, enhances transaction speed and reduces costs while maintaining compatibility with Ethereum’s dApps and smart contracts.
Priced at $0.8749, ARB has recorded a 24.42% gain in the last 24 hours, achieving a market cap of $3.57 billion.
Recent technical signals, including a bullish engulfing candlestick and RSI divergence, point to a potential trend reversal.
Indicators like the Moving Average Convergence Divergence (MACD) suggest ARB could break through $1, with a possible peak of $1.65 in the current cycle.
Despite trading 82% below its all-time high of $2.40, Arbitrum’s scaling focus positions it as one of the best crypto to buy now during this altcoin rally.
Bittensor (TAO): AI-Focused Blockchain with Long-Term Upside
Bittensor provides decentralized infrastructure for machine learning applications, with TAO serving as its utility token for AI-related trades, including datasets and models.
Trading at $520.65 as of writing, TAO has seen an 8.20% weekly increase, showing resilience after a year-long decline from its all-time high of $767.68.
TAO recently broke through key resistance levels, targeting the 1.61 external Fibonacci retracement, which projects a potential price of $1,130 by March 2025.
With growing interest in AI-driven blockchain solutions, TAO’s recovery highlights its long-term growth potential, earning its place among the best crypto to buy now.
Market Outlook and Other Alternatives Worth Checking
The cryptocurrency market continues to experience renewed optimism, driven by notable institutional investments such as Rumble’s $20 million Bitcoin allocation and MicroStrategy’s ongoing commitment to expanding its holdings.
These moves underscore growing liquidity and confidence in the space, setting the stage for potential gains across the board.
Altcoins like Fantom (FTM), Arbitrum (ARB), and Bittensor (TAO) remain strong contenders, reflecting the broader bullish sentiment.
In addition, promising presale tokens are also gaining traction, offering investors opportunities to diversify their portfolios and capitalize on the market’s momentum.
For those exploring niche investment opportunities, meme coins are carving out a unique space in the crypto world.
Cryptonews has compiled a list of the 19 best new meme coins to buy this month, showcasing some of the most exciting projects in the category.
These tokens offer a strong community-driven appeal and the potential for high returns, making them an intriguing option for investors in the crypto market.
19 Best New Meme Coins to Buy in November 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
