Best Altcoins to Invest in Today, March 11 – Ether, Cardano, AVA

Highlights:

• Ethereum, Cardano, and AVA emerge as the best altcoins to invest in today for a possible bounce back.
• The head and shoulders pattern in Ethereum is suggesting that a bullish breakout to $20,000.
• ADA’s support between $0.70 and $0.85 offers a strong base for future growth.

The crypto market has witnessed massive sell-offs with close to $1 billion in liquidations in just 24 hours. The sudden market shift has affected many traders, with long positions suffering the most. The uncertainty in the market has led to Bitcoin and Ethereum taking the hardest hits, dropping to their lowest levels in months. 

Amidst the market instability, the overall market cap has declined to $2.65 trillion while the 24-hour trading volume surged 36% to $154 billion, indicating heightened market activity. In addition, the fear and greed index has dropped to 15 levels for the first time since the FTX crash, indicating “Extreme Fear.”

The bearish sentiment usually presents a buying opportunity due to the dip. Let’s take a look at the best altcoins to invest in today, such as Ethereum, Cardano, and AVA (Trivala). 

The Best Altcoins to Invest in Today

1. Ethereum (ETH)

The largest altcoin, Ethereum, has lost over 4% in the past 24 hours to trade at $1,917. The recent market crash has pushed the 30-day loss to 28%, plunging to the lowest point since late 2023. Its market cap and trading volume are at $230 billion and $39 billion, respectively. 

According to technical analyst Gert van Lagen, the Ethereum price has created an inverted head-and-shoulders pattern over four years. The chart analysis shows that the ‘V’ has formed two shoulders with the same depth, which is vital for further price predictions. The breakout from this pattern is towards an upward move with a target in the $20,000 region.

This price movement is attracting the attention of traders who are looking for the best altcoin to invest in. As the pattern looks to ascend, Ethereum can be in focus on the altcoin market in the coming sessions.

2. Cardano (ADA)

After displaying a remarkable rally, recently surging above the $1 mark following its inclusion in the U.S Strategic Crypto Reserve, ADA has dropped to $0.700 region. At press time, the altcoin is trading at $0.732, down by 1.4% in the past 24 hours. Despite the 9% weekly decline, ADA is up 5% on the monthly chart.

Currently, ADA has declined 47% from its cyclic peak and has been undergoing consolidation for the last five weeks. Analyst Eilert made some comparison with previous cycles which was when ADA corrected 52% before soaring to 4,000%. The critical level of the support level sits between $0.70 and $0.85, which was seen to have supported the currency in the past. Resistance is found between $1.10 and $1.30, with a descending trendline suggesting a breakout above $1.00 could signal bullish momentum.

The inclusion of ADA in the U.S. strategic crypto reserve has boosted the sentiment among investors as well. This places ADA among the best altcoins to invest in the global market.

3. AVA (Travala)

AVA has recorded major price swings after climbing above the $2.5 region in mid-December. Since then, AVA’s price has declined massively following the broad market setback. At press time, AVA is trading at $0.6440, down by 8% on the daily chart. The altcoin is up 20% on the weekly chart despite the bearish setback. 

Crypto analyst Rose has shared insights regarding the AVA’s price movement. The accumulation zone level has shown to be very sustainable and can be considered evidence of the formation of a bottom in the AVA/USDT pair. If there is a breakout from the current descending trendline, an upward movement is expected.

A breakout could potentially push the price towards resistance areas, first of $1.4974, $1.9242, $2.4417. Using this technical setup makes AVA among the best altcoins to invest in, especially if one is interested in short-term profits.