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Following a significant price drop on Monday, Bitcoin rebounded on Tuesday, rising to $92,600 after reaching multi-day lows.
This recovery has rekindled interest in altcoins, with numerous investors looking for the best cryptocurrency to purchase now amid increased market activity.
Bitcoin’s recent fluctuations included a 5.6% decline, resulting in a loss of $5,000 on Monday and liquidating over $500 million in crypto long positions.
It’s been another huge day for liquidations with $521M+ of positions liquidated.
Exercise caution with leverage! pic.twitter.com/0Z2ED8OCJ3— Satoshi Stacker (@StackerSatoshi) November 26, 2024
Despite previously reaching a high of $99,000, market sentiment has shifted, as net outflows from U.S.-based Bitcoin ETFs amounted to $438.37 million that same day—the largest single-day decline since the U.S. election on November 6.
In light of this volatility, Fantom (FTM), Arbitrum (ARB), and Bittensor (TAO) emerge as strong options for investors looking for the best cryptocurrency to buy now to take advantage of the bullish momentum in the altcoin market.
Fantom (FTM): A Leading Candidate for the Best Crypto to Buy Now
Fantom, a high-performance Layer 1 blockchain, facilitates decentralized applications (dApps) and smart contracts through its distinctive Lachesis consensus mechanism.
Currently priced at $1.04, FTM has increased by 10.4% in the past 24 hours. This growth marks a recovery from an August low of $0.26, indicating robust bullish momentum.
Source: CoinMarketCap
After a period of consolidation throughout November, Fantom has surpassed significant resistance levels. Technical indicators, such as the Relative Strength Index (RSI), indicate further potential for upward movement.
#Altcoins $FTM | Fantom is now experiencing “bullish consolidation.” This indicates that prices are gradually and steadily increasing. Consider it a sideways market with an upward inclination.
This type of behavior often culminates in a substantial bullish wave. That’s where FTMUSDT is headed; to the moon.… pic.twitter.com/y8yD44h0V9— Alan Santana (@lamatrades1111) November 24, 2024
A breakout above $1.04 could lead to a target of $1.15, while failing to hold support at $0.83 may indicate a correction.
At present, FTM is trading 171.22% below its all-time high of $3.48 reached in 2021. This recovery suggests significant growth potential, solidifying its status as one of the best cryptocurrencies to buy now.
Arbitrum (ARB): Ethereum Scaling Solution with Breakout Potential
Arbitrum, a Layer 2 scaling solution for Ethereum, improves transaction speed and lowers costs while remaining compatible with Ethereum’s dApps and smart contracts.
Currently valued at $0.8749, ARB has achieved a 24.42% increase in the last 24 hours, reaching a market capitalization of $3.57 billion.
Source: CoinMarketCap
Recent technical indicators, including a bullish engulfing candlestick and RSI divergence, suggest a potential trend reversal.
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$ARB is Taking Off!
Significant movements for $ARB today, and it’s no surprise! $ARB is exhibiting strong momentum!
With Arbitrum’s expanding ecosystem and solid fundamentals, this is more than a temporary rally—it’s the beginning of a $ARB bull market.
Prepare yourself, the future looks promising!… pic.twitter.com/chOUPaOs82— Crypto DeFi 𝕏 (@Crypt0_DeFi) November 25, 2024
Indicators such as the Moving Average Convergence Divergence (MACD) imply that ARB could surpass $1, with a potential peak of $1.65 in the current cycle.
Although trading 82% below its all-time high of $2.40, Arbitrum’s focus on scaling positions it as one of the best cryptocurrencies to buy now during this altcoin rally.
Bittensor (TAO): AI-Focused Blockchain with Long-Term Upside
Bittensor offers decentralized infrastructure for machine learning applications, with TAO functioning as its utility token for AI-related transactions, including datasets and models.
Currently trading at $520.65, TAO has experienced an 8.20% increase over the past week, demonstrating resilience after a year-long decline from its all-time high of $767.68.
Source: CoinMarketCap
TAO has recently surpassed key resistance levels, aiming for the 1.61 external Fibonacci retracement, which forecasts a potential price of $1,130 by March 2025.
I’ve been accumulating $TAO between $200-300
It WILL lead the AI run and go to 2-3k minimum
Dynamic TAO + Smart Contracts coming
My only concern is emissions: 60m/month at current prices, with halving in Nov 2025
Increased my stack by 75% in this range, will continue to add… pic.twitter.com/O5KJwrT2I7— Guru
(@CoinGurruu) September 17, 2024
With rising interest in AI-driven blockchain solutions, TAO’s recovery underscores its long-term growth potential, securing its position among the best cryptocurrencies to buy now.
Market Outlook and Other Alternatives Worth Checking
The cryptocurrency market continues to show renewed optimism, fueled by significant institutional investments such as Rumble’s $20 million Bitcoin allocation and MicroStrategy’s ongoing commitment to increasing its holdings.
These developments highlight growing liquidity and confidence in the sector, setting the groundwork for potential gains across the board.
Altcoins like Fantom (FTM), Arbitrum (ARB), and Bittensor (TAO) remain strong candidates, reflecting the broader bullish sentiment.
Additionally, promising presale tokens are gaining traction, providing investors with opportunities to diversify their portfolios and leverage the market’s momentum.
For those considering niche investment opportunities, meme coins are establishing a distinct presence in the crypto landscape.
Cryptonews has compiled a list of the 19 best new meme coins to buy this month, highlighting some of the most intriguing projects in this category.
These tokens offer a strong community-driven appeal and the potential for significant returns, making them an interesting option for investors in the cryptocurrency market.
19 Best New Meme Coins to Buy in November 2024
The post Best Crypto to Buy Now November 26 – FTM, ARB, TAO appeared first on Cryptonews.
