Bitcoin staged a strong comeback earlier this month, and analysts expect it to keep going up this year. A Polymarket poll expects that Bitcoin price will jump to $150,000, with odds of it hitting $200k rising. This article explores some of the best cheap crypto to buy for huge gains during the bull run.
Cheap crypto to buy for huge gains
The best crypto to buy for big gains during this bull run are those with strong fundamentals and technicals. For example, one can consider those that have high odds of exchange-traded fund (ETF) approval. Some of these tokens are Ripple (XRP), Avalanche (AVAX), Internet Computer (ICP), and Polkadot (DOT).
XRP is a cheap crypto to buy
XRP is a top crypto to buy because of its strong technicals and fundamentals. It has strong fundamentals, like its growing Ripple USD (RLUSD) stablecoin market capitalization, which crossed over $500 million last week.
The SEC vs Ripple lawsuit has ended, opening the door for the company to start inking deals with top financial services companies. The XRP Ledger is growing, a trend that may accelerate in the coming months after its recent Wormhole integration.
XRP price also has strong technicals. It was in an eight-month consolidation, which was part of the formation of the bullish pennant pattern. This pattern comprises of a vertical line and a symmetrical triangle.
The price target in a bullish pennant pattern is achieved by measuring the height, and then extrapolating the same distance from the breakout point. This pattern has a depth of 85%. Measuring the same distance from the breakout point shows that it will jump to $4.3, much higher than the current level.
Polkadot (DOT)
Polkadot is another cheap crypto to buy for 5x gains in this bull run. There are odds that the SEC will approve the Grayscale and 21Shares ETFs later this year.
Further, there are signs that the Polkadot 2.0 upgrade has become successful as its ecosystem growth accelerates. Most recently, top players in its ecosystem like FIFA Rivals and Hydration have gained substantial traction among investors.
Polkadot price formed a double-bottom pattern at $3.20 and a neckline at $5.34. Therefore, it is likely to rebound and retest that resistance level, which is about 42% above the current level.
Internet Computer (ICP)
ICP is another top crypto to buy for huge gains in this cycle. Internet Computer provides a full ecosystem where developers can build applications for real-world use. Its developer ecosystem is highly active and is one of the most profitable chains in the crypto industry.
The daily chart shows that the ICP price has formed a horizontal channel, a sign that it is in the accumulation phase of the Wyckoff Theory. It is also consolidating at the 50-day and 100-day Exponential Moving Averages.
The spread of the three lines of the Bollinger Bands has narrowed. Therefore, it is likely that the ICP price will have a short squeeze soon.
Avalanche (AVAX)
AVAX is another top crypto to buy for huge gains. Avalanche price has formed a double-bottom pattern at $15.80, with the neckline at $26.73, its highest swing on May 9.
The AVAX price is consolidating at the 50-day and 100-day EMA, while the Relative Strength Index (RSI) has moved above the zero line. It will likely have a strong bullish breakout, with the next point to watch being at $26.73. A move above that level will point to more gains in the near term.
AVAX price has more catalysts that may push it higher in the near term. Its transaction count has jumped by 224% in the last 30 days to over 36 million. It has a high staking yield of 11%, while offering higher chances of ETF approval.
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