Bitcoin and other major cryptocurrencies have grown in the last few years, making some highly expensive to most investors. BTC price has moved to over $105,000, a trend that may continue over time. Investing in penny crypto coins trading under $1 is one approach to making substantial returns.
Top Penny Crypto Coins Under $1
Many crypto coins under $1 may continue doing well over time. Most of these ones are memecoins like Dogecoin, Shiba Inu, Pudgy Penguins, and Bonk. This article explores some of these coins, including Jasmycoin, Sei, The Graph, Ethena, and Pyth Network.
Pyth Network (PYTH)
Pyth Network, the third-biggest oracle network in the crypto industry after Chainlink and Chronicle, is one of the best penny crypto coins under $1 to buy. On the daily chart above, we see that it has formed a falling wedge chart pattern, a popular bullish reversal sign. The two lines are about to converge, meaning that it could rebound soon.
Pyth Network price also forms a double-bottom chart pattern whose neckline is at $0.5700. Therefore, it will likely have a strong bullish breakout, with the next point to watch being at $0.5700, up by 80% from the current level.
Ethena (ENA)
Ethena is another top crypto coin that may stage a strong bullish breakout this year. It is one of the biggest players in the DeFi industry, thanks to the USDe stablecoin, which yields about 10%.
The daily chart shows that Ethena’s price has formed the risky double-top chart pattern at $1.3055. This is usually a high-risk pattern, meaning it may have some more downside soon.
However, ENA price will likely bounce back in the future and possibly move above $1 soon. A move above the resistance level of $1.3055 will point to more gains, potentially $5.
JasmyCoin (JASMY)
JasmyCoin, the popular coin popularly known as Japan’s Bitcoin, has also crashed from last year’s high of $0.0590 to the current $0.02790. On the positive side, the coin has formed a falling wedge pattern, a popular bullish reversal sign. It has also formed a cup and handle pattern and remained above the 200-day moving average.
Therefore, with the two lines of the wedge nearing their confluence level, there are signs that it will have a strong bullish breakout. If this happens, the next key price to watch will be at $0.0445, up by 60% above the current level.
Sei (SEI)
Sei is another penny crypto coin to buy as its price retreats. Its price has dropped from the November high of $0.7345 to the current $0.3590, its lowest point since November 6.
Since August last year, the coin has moved below the ascending trendline that connects its lowest swing. It has also remained below the 50-day moving average. On the positive side, it is in the process of forming a double-bottom pattern at $0.2033, and its neckline is at $0.7345.
Therefore, while Sei price may drop a bit, there are signs that it will bounce back in the long term and possibly cross the resistance at $1.00.
The Graph (GRT)
The Graph is one of the best penny crypto coins to buy and hold. It is a leading blockchain company that allows developers to query large amounts of data from all blockchains.
The GRT token is currently bearish since it has dropped below the 50-day moving average and the Ichimoku cloud. It will likely fall to the key support at $0.15, which coincides with the ascending trendline. Over time, The Graph will likely bounce back and retest the resistance point at $1.
Other Penny Cryptocurrencies to Buy
There are many other penny cryptocurrencies under $1 that you may consider. Some of the most notable ones are Flow, AIOZ Network, Beam, Core, Mina Protocol, Algorand, and DeepBook.
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