3 Best Cryptos To Include in a Balanced Portfolio in 2024
As we step into 2024, the dynamic world of cryptocurrencies continues to captivate investors worldwide. Amongst a plethora of options, three stand out for their remarkable performance in the previous year: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Bitcoin, a pioneering force in the crypto market, experienced a remarkable surge of 155% in 2023, starting the year at $16,530 and soaring to a close at $42,785. Ethereum, known for its versatile blockchain technology, also saw an impressive growth of 90%, opening at $1,195 and escalating to $2,280 by year’s end.
Solana, a newer but rapidly growing player in the crypto space, astounded many by skyrocketing 919%, from a modest $9.96 to an impressive $101.69. These extraordinary gains highlight their potential as key components in a balanced portfolio.
Let’s delve deeper into their long-term performance and prospects for 2024.
On the monthly chart, Bitcoin’s stability is reflected in its current valuation at $42,685, supported by a pivot point at $34,213. Resistance levels loom overhead at $47,614, $50,000, and $53,079, while supports are established at $29,079, $26,902, and $25,235.
The Relative Strength Index (RSI) sits at a neutral 51.71, signaling a balance in market sentiment. Despite the chart exhibiting a Double Top pattern—a classic bearish reversal signal—the absence of a subsequent downturn suggests that the pattern has not been activated.
Consequently, the long-term view remains bullish with an anticipation of Bitcoin testing the immediate resistance at $47,614. Vigilance is advised, as a shift in market dynamics could quickly validate the bearish pattern, calling for a reassessment of the current trend.
Ethereum’s price movement
on the monthly chart paints a bullish
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