Bitcoin price has retreated in the past few days and remains 10% below the highest level this year. This retreat has triggered an altcoin bear market, with most cryptocurrencies falling by over 50% from their all-time high.
Bitcoin has formed a bullish flag chart pattern on the weekly chart, pointing to further gains this quarter. Such a breakout will likely lead to a surge among altcoins. So, this article explores some of the best crypto to buy during this altcoin bear market for 10x gains.
Best crypto to buy in this altcoin bear market
Many crypto have a lot of potential to rebound during this altcoin bear market. Pepe, Jasmy, Ondo, and Arbitrum are the most notable of these coins.
Pepe Coin (PEPE)
Pepe coin has become one of the worst-performing cryptocurrencies during this altcoin winter season. It has crashed by over 60% from its all-time high and is hovering near its lowest level since November 5 last year.
Pepe formed a head and shoulders pattern, a popular bearish sign. It is also about to form a death cross when the 50-day and 200-day moving averages flip each other. A death cross is one of the most popular bearish signs in the market.
On the positive side, Pepe has formed a falling wedge pattern, comprising of two converging trendlines. The Relative Strength Index (RSI) has also moved to the oversold level. Therefore, there are signs that the Pepe price will bounce back soon and potentially hit its all-time high of $0.000028, up by 200% from the current level.
JasmyCoin (JASMY)
JasmyCoin is another top crypto to buy during the ongoing altcoin winter. JASMY peaked at $0.05925 late last year and has crashed by double digits to the current $0.02195.
Like Pepe, it has also moved below the 50-day and 200-day moving averages, while the Relative Strength Index (RSI) has drifted downwards.
Jasmy has formed two patterns that will push it higher in the near term: falling wedge and a cup and handle pattern. A C&H pattern is made up of a rounded bottom and some consolidation. The two lines of the wedge are about to meet, which will trigger a strong bullish breakout in the coming days. Jasmy price will then rebound by 73% and retest the key resistance level at $0.0446, the upper side of the cup.
Arbitrum (ARB)
Arbitrum is another crypto to buy as the altcoin winter continues. Fundamentally, it is the second-biggest layer-2 chain in the crypto industry after Base, the network created by Coinbase.
Arbitrum has over $1 billion locked in its DeFi protocols, while its DEX networks handle over $7 billion a week. Uniswap, Camelot, PancakeSwap, and Maverick Protocol are the biggest players in its ecosystem.The Arbitrum token has crashed and is now hovering near its lowest level on record. It recently crashed below the key support level at $0.4676, its lowest level in July and November last year.
On the positive side, ARB has formed a triple-bottom chart pattern, pointing to further gains in the coming weeks. Such a rebound will see it rise and retest the key resistance level at $1.2410, the neckline of the triple-top, which is about 163% above the current level. Analysts also believe that ARB is highly undervalued.
Ondo Finance (ONDO)
Ondo Finance is another good altcoin to buy because of its role in real-world asset tokenization. It has become one of the biggest players in the RWA sector with over $600 million in assets.
Ondo is also a part of Donald Trump’s World Liberty Financial crypto project. Therefore, the token will likely rebound from the current $1.4 to the all-time high of $2.145, up by over 50% from the current level.
Some of the other altcoins to buy are Polkadot, Avalanche, Injective, Render, Cosmos ATOM, and Celestia.
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