Bitcoin surged to a new all-time high of $98,310.57 earlier on Thursday, surpassing its previous record of $94,878.75 set just a day before.
This rally, fueled by strong momentum and increased trading activity, has ignited interest across the cryptocurrency market.
As Bitcoin’s performance showcases potential gains, investors are exploring the best crypto to buy now among altcoins.
Bitcoin’s Record-Breaking Rally Sparks Interest in Altcoins
Bitcoin’s latest rally gained momentum after breaking through an ascending triangle pattern, recording a 6% increase in the last 24 hours.
for those who say that TA technical analysis doesn't work on crypto
just take a look at $BTC 1W chart for the last 3 years
$100K is exactly a golden ration that we are about to touch #ETH #bullrun #bitcoinchart #bitcoin #btc100k #XRP #RIPPLE #SOL #Solana #cryptocurrency pic.twitter.com/nLSt8lbVyM— utility.base.eth (@0xutility) November 21, 2024
A substantial driver behind this rise is the growing adoption of U.S.-based Bitcoin exchange-traded funds (ETFs), which now hold $100.55 billion in assets.
The influx of institutional interest signals robust market growth, creating an optimistic outlook for the broader cryptocurrency ecosystem.
While Bitcoin continues to dominate, altcoins are emerging as attractive options for investors looking to capitalize on the bullish momentum.
Coins like Floki Inu (FLOKI), Raydium (RAY), and Filecoin (FIL) are gaining traction as some of the best crypto to buy now, offering promising opportunities for potential returns.
Floki Inu (FLOKI): Strong Technicals with High ROI Potential
Floki Inu (FLOKI), inspired by Elon Musk’s Shiba Inu dog, is a meme coin built on both the Ethereum and Binance Smart Chain blockchains.
Its hyper-deflationary mechanism reduces its supply over time, potentially increasing its value.
FLOKI has shown remarkable growth recently, with a market cap of $2.45 billion and a 10.64% price surge in the last 24 hours.
Trading volume has also soared by 181.17%, reflecting heightened interest from the crypto community.
Technical analysis indicates a potential price range between $0.000346 and $0.000574, offering over 20% ROI from its current levels.
Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets
(@CoinbaseAssets) November 20, 2024
Supported by listings on major exchanges like Coinbase, Binance, and Bybit, FLOKI is a strong candidate for investors evaluating the best crypto to buy now.
With such momentum, FLOKI stands out as a compelling option. Moving on to Solana’s ecosystem, Raydium (RAY) offers equally promising potential.
Raydium (RAY): Consolidation Signals Breakout Opportunity
Raydium (RAY) is a Solana-based token that supports the Raydium decentralized exchange (DEX) and Automated Market Maker (AMM) platform. It facilitates protocol fees, staking, and token launches.
Over the last month, RAY has demonstrated impressive growth, achieving a 128.97% price increase and recording a $165.27 million trading volume in the past 24 hours.
Notably, on November 17, Raydium broke its daily fee record, reaching $14.4 million and outperforming Uniswap by 258%.
News: @RaydiumProtocol passes @Uniswap and is now the #1 DEX in crypto. pic.twitter.com/iNy6xMhXsd
— MartyParty (@martypartymusic) November 17, 2024
From a technical perspective, RAY’s price is consolidating with resistance at $5.836 and support at $5.260.
A breakout above the $5.836 level could push RAY into bullish territory, making it an appealing option for investors seeking the best crypto to buy now within the Solana ecosystem.
Filecoin (FIL): Bullish Indicators and Key Resistance Breakthrough
Filecoin (FIL) is revolutionizing decentralized data storage, offering users a secure alternative to centralized platforms like Dropbox.
FIL has recently experienced a 3.92% rise over the last 24 hours and a 22.57% increase over the past month. Trading at $4.62, analysts predict its price could approach $10 by 2025.
Technically, FIL has broken through key resistance at $4.20, signaling further growth potential.
A rising relative strength index (RSI) curve further supports its bullish outlook.
$FIL
Consolidating near Resistance of Descending Triamgle in 1DTF.
Breakout can lead 100-120% Bullish Rally in Midterm#FIL pic.twitter.com/npH6W2FmCs
— Globe Of Crypto (@GlobeOfcrypto1) November 21, 2024
These indicators position FIL as one of the best crypto to buy now, particularly as the market gains momentum.
Better Crypto Alternatives to Consider
As Bitcoin continues to dominate the market, altcoins present exciting opportunities for investors.
Recent developments, including institutional moves by companies like MicroStrategy and Galaxy Digital, have boosted market liquidity and fueled optimism for altcoin growth.
Tokens like FLOKI, RAY, and FIL are showing strong technicals and may be well-positioned for notable returns as the market gains momentum.
Additionally, the evolving blockchain landscape supports increased adoption and long-term potential.
Below are some of the most compelling altcoins to consider for investment.
11 Best Crypto Presales to Invest In Now
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