Crypto stories are becoming more and more popular. Investors around the globe are realizing the huge growth potential this market has to offer, adding cryptocurrencies to their portfolios. However, while diversifying a portfolio, cents or penny stocks are the ones that offer the most returns to investors if chosen carefully.
In this article, we will provide you with some of the top penny cryptocurrencies that have yet to take off and that you can buy for a big ROI in 2022. This is based on our analysis and not should be an investment advice.
- Stellar (XLM) price stuck in a narrow range
The source-Tradingview
Stellar coin price shows an overall sideways trend. Around mid-November 2021, the price started a rally, causing the price to drop to the $0.245 mark. For over a month, the price has been resonating between $0.3 and $0.245, creating a short-term range.
Cryptocurrency traders looking for long-term opportunities should let the price break through the overhead resistance, as it could initiate a proper recovery phase and rally to $0.44 or more. again.
The important EMAs (50 and 200) have turned flat due to the sideways price. However, these EMAs are now showing a downtrend. The slope of this daily Relative Strength Index (45) is heading towards the neutral line for a bullish crossover. Furthermore, the bullish divergence in the RSI chart suggests a better possibility for the price to break out of the range with an upside breakout.
- XRP Price Prepares For Its Next Move Symmetrically Resonant
The source- Tradingview
The XRP price chart shows the formation of a symmetrical triangle pattern in the daily timeframe chart. The price is currently hovering above the combined support of $0.7 horizontally and the uptrend line. If the price sustains above this level, the currency can climb to the overhead resistance ($1.1).
Furthermore, once the price breaks out of this triangle, crypto traders can expect a directional move to trade.
Due to the range-bound movement in price action, the longer EMAs (100 and 200) have flattened out. Currently, XRP price moving these EMAs shows a downtrend.
- ROSE Price Stable Going North
The source- Tradingview
The ROSE price chart shows an overall uptrend. Since July 2021, an ascending trendline has been leading this rally. However, the coin’s growing uptrend has left behind this uptrend line and displayed a parabolic rally in its chart.
ROSE price recently broke its previous all-time high of around $0.45, suggesting even more potential for its uptrend. The price could issue a pullback to retest this new flipped support ($0.45), providing a long-term entry opportunity.
Trade the ROSE coin price above the important SMAs (20, 50, 100 and 200). These EMAs will provide strong support for the coin price during the occasional correction period.
According to the traditional pivot level, crypto traders can expect an upper supply zone of $0.6 and $0.754. And for the opposite sides, the support levels are at $0.515 and $0.358.
- Can this declining channel lead Ravencoin to the $0.2 mark?
The source- Tradingview
The RVN coin resonates in a bearish parallel channel pattern in the daily timeframe chart. Although this pattern is in a downtrend, it provides excellent long-term trading opportunities when the price breaks above the overhead resistance trendline.
The price was recently rejected from the rejection resistance, suggesting a drop to the bottom support line is possible. The horizontal support levels for this coin are at $0.9, followed by $0.78.
The RVN sellers have dropped the coin’s price below the 200 EMA. Price is currently retesting this new resistance to find enough supply.
- Bullish RSI Divergence May Reinforce ZIL Price Double Bottom Pattern
The source- Tradingview
Around mid-December 2021, the ZIL coin rallied back from the $0.056 mark. The rally managed to gain 50% in about a week and rallied to the $0.085 mark. However, intense selling pressure at this resistance rejected the coin price and pushed it back towards the bottom support ($0.056).
Price rallying again on an attempt to reverse the upside could eventually lead to the formation of a double bottom. The neckline of this pattern is at $0.86, the breakout of which could present a bullish opportunity.
However, the crypto trader should watch out for the descending trendline, which provides stiff resistance to the coin’s price.
The slope of this daily Relative Strength Index (47) is on track to enter a bullish zone (above 50%). Furthermore, the bullish divergence in the RSI chart supports the formation of a double bottom.