The weekend had started well for altcoins, and their price movements was proof of this. Binance coin (BNB), Solana (SOL), IOTA, CAKE, and Decentraland (MANA) surged by nearly 10% in the early European session, and they are presenting very good buy opportunities.
Binance Coin (BNB)
BNB is leading the pack in price recovery. The BNB token is currently trading at around $419, a 10% growth from what it was trading at the previous day. The moving averages for the token also show that it is leading towards a strong buy.
A recent chart on TradingView showed that the token had pushed past the resistance price, and it was now moving high past the support levels. This shows that the token is a great weekend buy. However, BNB still has a long way to go before achieving its ATH above $600 reported in May.
Solana has also been doing well in recent weeks following the support garnered in the Solana blockchain. The coin’s price movement shows that it is moving past the resistance levels. In addition, the data shows that the token is a great buy and has a high chance of moving greatly past the support levels.
Solana’s ATH stands at around $58, but this value dropped during the crash and is now trading at around $40, a 14% growth in 24 hours. As seen in the chart below, the new figure is above the monthly average support level.
IOTA is also another great weekend buy. The token’s recent analysis shows a high chance of gaining again past the current level of nearly $1.26. If this happens, traders can place buy orders based on the price movement. Optimistic traders believe that the token may be great for short-term speculation.
The current price of IOTA also shows that it within range for a quick recovery. If the market maintains the slight bull trend, the token may break out of resistance, but it will still take some time to regain its ATH. It is hence a great weekend buy for traders who want to go short.
Pancake Swap (CAKE)
The other best token to buy over the weekend is Pancake Swap (CAKE). The coin has also been making an upward trend, and its impressive price rally shows that its price may rise in both the short term and the long term.
As seen in the chart below, the token recently had a massive sell-off and its Simple Moving Average (SMA) 100. CAKE is currently trading at around $19 and is expected to reach around $22, which makes it a good short-term buy. However, market signals do not indicate whether this will happen or not, which calls for caution if a trader wants to go long.
Another great buy this weekend is MANA. The token is currently trading at around $0.82 after an over $1.7% gain in the past 24 hours. It is among the best performing altcoins now, showing the potential of breaking past resistance levels.
The chart above shows that the token is doing quite well and is doing its best to recover from the current market dip. However, there is much resistance at its current level, and it may take time to regain its status above the $1 level. The data shows the coin may soon fatigue from too much resistance, making it a great buy for the short term.
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Where to Buy BNB, IOTA, BNB
If you are looking to buy any of the coins listed above, check in any of the below exchange:
The number one choice of exchange is eToro. The platform offers around 94 cryptocurrency pairs. The exchange also has a copy trading feature that allows new traders to copy the trading strategies of those experienced in the market.