Bitcoin is showing weakness right now and it is a good sign for the crypto tokens that were beaten over by the main cryptocurrency in the world. We are looking at a Bitcoin correction happening so the smaller assets will try to bounce. There are many coins that can end up with a rally due to this.
While numerous cryptocurrencies can be mentioned, we will focus on just some that are really cheap at the moment and that are great for those looking for a quick bounce.
VeChain – VET
VeChain is showing really strong reversal signals so you want to take a look at it. We can clearly see that the crypto asset is trading right at a large falling wedge if we look at the daily chart. It is ready to take a diagonal wedge resistance.
Technical indicators now favor bulls. When looking at daily RSI, there is a long bullish divergence. Due to this, we know that bulls gather momentum. After being unleashed, VeChain will show a very strong rally.
Bulls will most likely target the 0.000001 BTC value, with the current value being 0.0000006 BTC.
Verge – XVG
Verge was faced with a pretty long crypto winter but it might soon be over. This is because the market completed its cycle. The all-time high was 0.00002 BTC and then it went down to 0.00000053 BTC. The drop was huge and it happened over 19 months.
The 2017 bull run ended and all gains disappeared.
The good news is that technical indicators show us that Verge will survive and a brand new market cycle will happen. Bulls respect the line of the analysts and long bullish divergence is seen on daily RSI. This means the market is now entering an accumulation phase.
Those that are interested in investing in Verge should buy at around 0.0000005 BTC. Then, the target is at least 0.000001 BTC.
Basic Attention Token – BAT
Basic Attention Token is a really good candidate for investors. On April 21 it reached 0.000094 BTC and was trading in a defined range. It is easy to trade BAT at the moment since the crypto token respects the 0.000023 BTC range support. It also flashes oversold signals and bullish divergence signals. The target for this crypto if you want to go long is 0.0000395 BTC or 0.000056 BTC.