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Top 5 Low-cap Layer 1 Altcoins To Focus on in 2024

The post Top 5 Low-cap Layer 1 Altcoins To Focus on in 2024 appeared first on Coinpedia Fintech News

With a growing bearish influence over the crypto market, Bitcoin and other layer-1 Altcoins are under correction. While the intensity of the correction phase differs for each project, the overall performance is under pressure. 

However, the crypto market anticipates a bull run in the coming months. These tokens could skyrocket multiple times, with Bitcoin potentially surpassing $73K. Further, with the altcoin season approaching the crypto market doorstop, the bull run in the Layer-1 tokens is about to begin soon. 

So, here are the top 5 Low Cap Layer-1 Altcoins to buy in 2024 for massive returns. 

The Top 5 Low Cap Layer 1 Altcoins

Radiant (RXD)

Radiant is a peer-to-peer digital asset system allowing direct value exchange without a central authority. Like Bitcoin, it uses a minimal structure and timestamps transactions into a continuous, proof-of-work chain.

Tradingview

Radiant (RXD) is currently priced at $0.000716, up 8.99% in the last 24 hours. The market cap of this Layer-1 token is $7.971 Million, with a 117.89% increase in the 24-hour trading volume.

Radiant’s all-time high was $0.009245 on April 15, 2023, down 92.24% from that peak. The all-time low was $0.0004307 on February 13, 2023, showing a 66.46% increase from that low.

Despite a falling channel in the weekly chart, the RXD Layer 1 altcoin is ready for a bull cycle from the support trendline. An upcycle can result in a jump to $0.0024, a 250% upside potential. 

Chromia (CHR)

Chromia is a blockchain platform developed by ChromaWay, aimed at simplifying the creation of decentralized applications (DApps). ChromaWay, active since 2014, is also known for developing colored coins representing various assets on a blockchain.

Tradingview

Chromia (CHR) is currently priced at $0.2407, up 4.27% in the last 24 hours. The market cap is $195.5 Million, with a 381% surge in the 24-hour trading volume. Further, the Layer 1 altcoin is down by 84% from its all-time high of $1.50. On the flip side, the bull run from the all-time low of $0.008525 marks a remarkable 2705.75% increase.

As per the trend-based Fibonacci levels, a price jump from $0.21 can top the 1.618 level at $0.8435.

Injective Protocol (INJ)

Injective is a blockchain platform designed to revolutionize the finance sector through its advanced Layer 1 infrastructure. Amid the recent market recovery, the INJ price showcased a notable reversal from the combined support of $18.6 and 100W EMA.

Source: Tradingview

The bullish reversal uplifted the asset 20% to trade at $22.4, while the market cap surged to $2.077 Billion. If the bullish momentum holds, then the buyers could challenge the overhead trendline around $27.

The potential breakout could offer a better trend reversal signal and bolster the Layer 1 altcoin, INJ, buyers to chase the $53 target.

Dione Protocol (DIONE)

Dione Protocol (DIONE) is a blockchain project focused on creating a sustainable and eco-friendly digital economy by leveraging renewable energy sources.

Tradingview

While the supply pressure from the broader market eased, the DIONE price correction managed to stabilize above the 38.2% Fibonacci retracement level. The healthy pullback indicates the long-term trend remains bullish for DIONE remains bullish.

A recent reversal from 38.2% FIB at $0.0071 has uplifted the asset 16.4% to trade at $0.0082, while the market cap surged to $77.6 Million.

With sustained buying, this altcoin could flip the 200D EMA into potential support, resorting to the bullish sentiment among traders. The post-breakout rally in this Layer 1 altcoin could hit $0.0134, followed by $0.0165.

DUSK (DUSK)

Dusk Network (DUSK) is a privacy-focused blockchain protocol designed to bring institutional-grade financial services to the blockchain while ensuring compliance with regulatory standards.

Tradingview

DUSK coin witnessed a notable outflow in the June market correction as its price fell from a $0.51 high to a $0.27 low, projecting a loss of 47%. However, the falling price faced a fresh wave of demand pressure at $0.285, a horizontal support zone intact since February 2024.

The coin rebounded from this support, indicating a crucial accumulation zone for buyers to launch a counterattack. By the press time, the DUSK coin trades at $0.284 and maintains a market cap of $119.8 Million.

If history repeats, the DUSK price could rebound sharply and pierce the combined resistance of $0.327 and 200D EMA. The potential breakout will intensify buying momentum in this Layer 1 altcoin to target the $0.5 mark.

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