The cryptocurrency market is down 1.9% today, with its total cap falling to $1.23 trillion over the past 24 hours as investors reduce risk aversion in anticipation of this week’s FOMC meeting.
The expectation is that the Federal Reserve will announce its 10th consecutive rate hike when it meets tomorrow and Wednesday, bringing its funds rate to between 5% and 5.25%. Its highest level since July 2007,
Cryptos have responded to this expectation by falling more or less across the board, with bitcoin (BTC) down 2.5% in the past 24 hours, and ETH, SOL and DOT down 3% or more – including . ,
However, this market-wide decline provides traders with a good opportunity to buy at a discount, so here is our roundup of the best coins to buy in the fall, before prices begin to correct later in May.
Ethereum (ETH)
At $1,848, ETH is down 3% in 24 hours and down 12% over the past fortnight, though it remains up 54% since the start of 2023.
Indicators for ETH are mixed, with its relative strength index (purple) falling below 50 over the past few days, showing the potential for further downside as altcoins lose momentum.
And while its 30-day moving average (yellow) continues to rise above its 200-day (blue), it has also declined below the psychologically important support level of $1,900, supporting suspicions that more downside could be expected this week. The decline is coming.
That said, Ethereum is one of the most fundamentally strong coins in the market, with its recent Shanghai update – which introduced staking withdrawals – only strengthening its bull case.
On top of this, Ethereum has enjoyed positive adoption news in recent weeks from the likes of Societe Generale, Visa and Coinbase (which is building its own Ethereum layer-two).
So once this week’s drop is over, expect ETH to recover nicely in the weeks and months to come.
Solana (SOL)
SOL is down 6% over the past 24 hours, although its current price of $22.26 also represents gains of 3.5% over the past week and 5% over the past 30 days.
The chart for SOL is similar to that of ETH, with a declining RSI indicating further downside this week.
On the other hand, SOL’s 30-day moving average formed a golden cross with its 200-day EMA a couple of weeks back, indicating some breakout.
Similarly, it is encouraging to note that support levels for altcoins have been rising steadily since March, suggesting that any downside moves this week could be relatively limited.
SOL has also been buoyed by recent adoption news, with IoT-focused platform Helium having migrated to Solana’s network a few weeks ago.
will also be helium Launching its own blockchain-based cell phone network on May 4thWhich means SOL shouldn’t stay down for too long.
yPredict.ai (YPRED)
running on polygons, yPrediction A new AI-based analysis and forecasting platform for traders, the pre-sale of its native YPRED token is already raising close to $500,000.
It will feature a range of tools that will help traders and investors make more intelligent buy and sell decisions, and has actually already launched its trading algorithm in beta form.
It will follow it up with several AI-based prediction tools as well as sentiment analysis for the cryptocurrency market over the next few months.
It will also open its own marketplace, through which traders can subscribe to forecasting and analytical tools built by the developers.
Within this ecosystem, YPRED will have a variety of uses, including paying for model memberships, gaining access to analytics, and placing bets.
Investors can participate in its presale its official website and linking your software wallet before paying for YPRED using ETH, MATIC, BNB, USDT or fiat.
universe (atomic)
At $11.36, ATOM is down just over 4% today, despite being up close to 5% over the past week and up 21.5% since the start of the year.
ATOM’s indicators don’t look particularly promising at the moment, with its RSI falling below 50 and its 30-day average struggling below the 200-day mark.
At the same time, its support level (green) has been declining steadily since March, indicating that it may decline further this week.
Nevertheless, ATOM remains strong in terms of its core principles, with the core platform Cosmos – the ‘Internet of Blockchain’ – continuing to grow and expand in size.
Notably, Composable Finance recently launched the first Polkadot-to-Kusma connection via Cosmos, highlighting the growing applications of the latter.
Thus, ATOM is in a good position to recover strongly after this week’s potential decline ends, and strengthen in the next few months.
ADOGE (AI)
adog is a new Ethereum-based platform that uses artificial intelligence to generate relevant and timely memes.
It launched a presale for its AI token last week, and as of writing it has raised over $600,000, which is a pretty impressive figure for a token offering that has just started.
How AiDoge works is simple: users enter a short text-based description of the meme they want to see, and AiDoge uses a combination of advanced algorithms and a large data set to generate a related image. .
It’s as straightforward as that, yet what makes Edog interesting is its community element, in which users can upvote and downvote memes.
Excitingly, the highest rated memes will earn their creators rewards in EyeDog, encouraging the cultivation of a thriving online community of meme creators.
Currently, the price of 1 $AI token is $0.000026, yet it will increase to 0.0000264 in the next phase of the pre-sale, which will start in just five days.
This gives buyers a limited window of opportunity in which to buy AI cheaply, and with altcoins potentially booming once they are listed on exchanges later in the year, interested investors are advised to act quickly. Is.
Launchpad.XYZ (LPX)
Another new Ethereum-based platform, launchpad.xyz Aims to be a one-stop shop for users looking to get into Web3.
After launching a pre-sale for its native LPX token a few days ago, it has already raised over $150,000.
What excites investors about Launchpad is that its platform will integrate the many different applications, tools and services that make up the growing Web3 sector.
Currently, these different parts of the Web3 ecosystem are generally self-contained and siled, something that acts as a block to wider adoption, given that the general public has access to separate wallets, apps, and wallets. And gets turned off by the complexity of separating utilities. Location.
Accordingly, Launchpad will feature a Web3 wallet address where users can hold their coins, NFTs and other digital objects.
It will also feature a play-to-earn game hub, a launchpad for presales, a trading terminal, and an AI-powered search engine exclusively for crypto.
Given this kind of ambition, it’s not hard to see why Launchpad has been able to raise so much money in just a few days, and its LPX token is definitely worth a look when it lists on exchanges later this year.
