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The cryptocurrency market has seen a substantial increase as the week draws to a close, with investors and traders looking for potential opportunities for the coming week. At this point, it is noticeable that altcoins priced under $5 are standing out.
Three Altcoins Showing Signs of a Strong Uptrend
The first altcoin promising high returns for being priced under $5 is Fetch.ai (FET), which has shown resilience against fear, uncertainty, and doubt (FUD) by forming three consecutive rising waves. Currently trading at $1.61, FET is facing a 3.12% decrease over the last 24 hours at the time of writing. The altcoin is particularly notable for its 58.19% increase over the last 7 days and an impressive 188.68% rise over the last 30 days.
Another altcoin, Cardano‘s ADA, is also facing a significant uptrend, supported by chart formations indicating a rise and an increase in the number of newly created cryptocurrency wallets on the network. At the time of writing, ADA is trading at $0.7346, having risen by 7.40% in the last 24 hours, and has seen increases of 24.86% and 41.35% over the last 7 and 40 days, respectively.
XRP, the altcoin issued by Ripple, which is in the midst of a legal quandary with the U.S. Securities and Exchange Commission (SEC), is showing signs of a potential rally towards $1. Supported by a closing above the daily Ichimoku Clouds and a bullish hammer candlestick formation, XRP is currently priced at $0.6372 and has experienced increases of 7.65%, 16.76%, and 26.22% over the last 24 hours, 7 days, and 30 days, respectively.
Investors Should Remain Cautious Despite Uptrend Signals
The sustainability of the upward momentum in these three altcoins and the absence of negative external or internal developments make them attractive assets that could be considered for purchase in the coming week.
However, due to the rapidly changing conditions in the cryptocurrency market, investors are advised to conduct their own research before making investment decisions.
