As we approach 2024, several cryptocurrencies show potential for substantial growth. Among them, Solana, Starknet, and Raydium stand out for their recent performances and become the best crypto to buy in 2024.
Solana Price Analysis
Solana has shown considerable strength recently, rising above its moving averages on May 15. However, the cryptocurrency faces minor resistance at $176, where bears may attempt to initiate a correction. The critical level to monitor on the downside is $162. If Solana’s price rebounds strongly from this level, it would indicate that bulls are attempting to establish $162 as a support level, potentially paving the way for a rally above $176. If successful, the SOL/USDT pair could then ascend to $185.
Conversely, this optimistic outlook will be invalidated if Solana’s price falls below the moving averages, potentially triggering long liquidations and dragging the pair down to $140. Recently, the pair dipped below the 20-EMA, suggesting a retest of the $162 breakout level. Buyers must drive the price above $176 to resume the upward trend. A drop below $162 would indicate waning bullish control, with minor support at the 50-SMA. If this support fails, the pair may plummet to $140.
Starknet Weathering Volatility
Starknet has experienced significant price fluctuations but has demonstrated strong growth over the past six months. Despite short-term declines, Starknet’s overall trajectory remains positive. The market sentiment has shifted from cautious to optimistic, likely due to Starknet’s promise of scalable blockchain solutions. These solutions provide a platform for developers to create decentralized applications more efficiently and at lower costs, resonating well within the cryptocurrency community.
Raydium’s Strong Performance
Raydium (RAY) currently trades at $1.72 and ranks No. 146 in the crypto ecosystem, with a market cap of 262,802,579 RAY. The cryptocurrency has shown a promising upward trend, increasing by $0.03 in the past 24 hours and by 11.69% over the past week. Over the last month, Raydium’s price has surged by 15.81%, adding an average of $0.27 to its value. This rapid growth suggests that Raydium could become a solid investment if the trend continues.
Raydium Price Prediction for 2024
Technical analysis indicates that Raydium’s price in 2024 could range between a minimum of $1.96 and a maximum of $2.22, with an average trading price of around $2.03. Given its recent performance and potential for continued growth, Raydium presents an attractive opportunity for investors.
In conclusion, Solana, Starknet, and Raydium exhibit strong potential for 2024, making them cryptocurrencies to watch in the coming year.
