The crypto market has found itself in yet another selloff activity with the majority of the coins and altcoins recording substantial declines. The king of the digital currencies, Bitcoin is trading below $8,000 and is down 3.70% in the last 24 hours. Ethereum tested the support level at $610 but is now trading at $624 while Ripple completes the top three assets with a downslide of 6.64% in the last 24 hours and trading at $0.627. Other cryptocurrencies in the top ten bracket also are recording declines. Our main focus today is on Tron (TRX), EOS and Cardano (ADA). These virtual assets present the best buying the dip opportunities for investors.
Tron price is exchanging hands at $0.070, although it opened trading today above $0.080. TRX/USD declined to trade below $0.070 level last week. Besides, it sunk below the support level at $0.065 before bouncing at $0.062. An uptrend ensued as the price broke several barriers over the weekend trading. Tron TRX price rose to trade at $0.082 before selling pressure kicked in.
As an investor Tron has proved to have the ability to shake off the bear pressure and attack higher levels. The cryptocurrency is exploring lower levels at the moment, meaning buying at a lower price could translate into good returns in the near future. Tron is one of the most watched assets in the market as it heads towards the launch of its Mainnet in 7 days. Experts have predicted that Tron TRX price could surge on the launch and this only means that buying TRX could prove profitable in the short-term as well as for HODLer. The downside movements seem to be settling around $0.07, but a dip to $0.06 could still present the best buying the dip position.
EOS threatens to brush shoulders with $10.00
EOS price is down 7.63% on the day, besides the chart is in the red. There is a continuous downward movement which has broken below the key support at $12.00. EOS/USD is trading at $11.21 at the time of writing although it exchanged at $13.93 at the start of the trading session. The cryptocurrency has not been spared by the prevailing negative pressure in the market.
EOS mainnet will go live on June 2. EOS tokens currently run on Ethereum but will soon be transferred to EOS blockchain. The launch will also mark the end of the ICO that has been running for over a year now. As EOS opens up its platform in the blockchain industry, we could see a direct effect on the price going up. EOS has already shown its capability by creating a new all-time high at $22.56. Buying when the price is declining means that you can buy many coins with the same amount of money as opposed to waiting for the price to surge.
Cardano (ADA) price settles at $0.20
Cardano has recently launched its wallet with some of the best features one can find in the cryptocurrency market. The research focused cryptocurrency is very committed to introducing developments that transform the industry. Cardano price is currently trading at $0.2089 despite having traded at $0.382 at the beginning of May.
The best buying the dip opportunity for Cardano ADA is when the coin settles and begins to show signs of recovery. As a trader, one can buy at any time but for both short-term and long-term holders, it is important that one buys at the right positioned. But of course, I am not saying that you keep buying even as the price tumbles. I mean that you must look out for the settlement position and most appropriately the signs of recovery or trend reversal.
The above three cryptocurrencies, Tron (TRX), EOS and Cardano (ADA) have the best buy the dip positions. All the cryptos have active development teams that are keeping them relevant in the market. The first two coins will launch their own blockchains within the next two weeks. The latter crypto, Cardano has some of the best developers at IOHK who are determined to ensure that Cardano succeeds.