Crypto prices crashed this month and are at risk of further downside as Donald Trump restarts his trade war and recession risks rise. The crypto fear and greed index has dropped to 25, while Bitcoin risks falling to $70,000. This article examines the top four cryptocurrencies to purchase with the most bullish crowd sentiment on CoinMarketCap.
Top Crypto to Buy With the Most Bullish Sentiment
CoinMarketCap, or CMC, is a highly popular company in the crypto industry, with millions of users daily. Its sentiment indicator identifies the top coins on which traders are bullish or bearish. Some of the top cryptocurrencies to purchase with the most bullish sentiment are Sei, Ethena (ENA), Avalanche (AVAX), and Cardano (ADA).
Sei (SEI)
The price of the Sei token has crashed to its 2023 lows, making it one of the worst-performing tokens in cryptocurrency. It dropped to a low of $0.1783, down by 85% from its highest level on record. The token has a bullish crowd sentiment of 86.8%.
This bullish sentiment is likely because Sei’s network is doing well. Its total value locked (TVL) is over $360 million, up by 82% from the same period last month. Its stablecoin market value has jumped to $176 million.
Sei price has formed a falling wedge pattern as two descending trendlines are about to converge. Accordingly, it is likely to soon bounce back and possibly hit $0.3285, its lowest point on November 3, which is 85% above the current level.
Ethena (ENA)
Ethena is another crypto to buy with a bullish crowd sentiment, even after its coin crashed 72% from its highest point this year. The bullish case for ENA’s price is that its stablecoins have continued to attract assets, with USDe having a market cap of over $5.2 billion. USDtb, its recently launched stablecoin, has gained over $1.4 billion in assets.
Donald Trump’s World Liberty Financial has also invested in Ethena. Additionally, Ethena has become one of the top investors in Blackrock’s BUIDL product.
Technically, the ENA price has formed a bullish divergence pattern, with the two lines of the MACD rising. Accordingly, the coin might surge to $1 in the coming months.
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Avalanche (AVAX)
The Avalanche price has crashed in the past few months, but CoinMarketCap (CMC) traders expect it to increase in value. It has a bullish score of 84.5%, signaling a high confidence rate. The AVAX price may rebound soon after a top company applied for a spot in the AVAX ETF and after the company launched its Visa card for real-world purchases.
Technically, the AVAX token price formed a falling wedge pattern and has moved slightly above the upper side. The recent retreat indicates a potential retest of the upper side, meaning it will continue soaring. The key target to watch will be at $25.
Cardano (ADA)
Cardano has a bullish score of over 84% on CMC. The main reason for this is that it has moved to the second phase of the Elliot Wave pattern, which suggests it may enter the third phase in the coming weeks. If this happens, Cardano’s price will likely surge to $2, which coincides with the 38.2% Fibonacci Retracement level. This price target is about 200% above the current level.
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