Kaspa (KAS), Jasmycoin (JASMY) Price Up as Bitcoin Consolidates post Crash – Best Cryptos To Buy The Dip?

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After a strong correction earlier this week, the crypto market is showing signs of consolidation as we approach the weekend. Bitcoin (BTC) has found a range around the $66,000-$67,000 area, while some altcoins like Kaspa (KAS) and Jasmycoin (JASMY) have experienced decent pumps. 

Concurrently, Dogecoin20, a new meme coin project that launched its presale just a few days ago, has already passed over $5 million in its presale, making it one of the hottest crypto presales of March.

As the market stabilizes, investors are closely watching the movements of Bitcoin and other prominent altcoins to identify potential buying opportunities. While some cryptocurrencies are still retracing from their recent highs, others seem to be gaining momentum, potentially presenting an intriguing scenario for investors.

Bitcoin price consolidates after a strong correction

After a strong correction earlier this week, the crypto market is showing signs of consolidation as we approach the weekend. Bitcoin (BTC) has found a range around the $66,000 to $67,000 area after bouncing back from a strong support level of $60,000 to $61,000 earlier this week.

The question now remains whether this marks a local bottom, and if Bitcoin can make another run towards its all-time high of around $73,000 before the upcoming halving event, which is just 30 days away now.

Technical indicators suggest a positive outlook for Bitcoin. The MACD line is above the MACD signal line, and the Relative Strength Index (RSI) is around 51, indicating a potential bullish momentum. Michaël van de Poppe, a popular crypto analyst, tweeted: “Massive bounce on #Bitcoin initiating continuation here. I think we’ll be consolidating, and, given the strong bounce, have another run to the all-time high pre-halving.”

Van de Poppe’s assessment aligns with the technical indicators, signaling that Bitcoin may be gearing up for another bullish move towards its all-time high before the highly anticipated halving event.

Kaspa (KAS) price pumps on major announcements 

Kaspa (KAS) has been on the rise this week, pumping 13% and trading around $0.15 at the time of writing. The announcement of smart contract and DeFi ecosystem development for Kaspa is a milestone that could potentially unlock a world of new opportunities and use cases for the project.

On the KAS/USDT chart, we can see that KAS has broken out of the descending channel where it was trading since mid-February when it hit its current all-time high of around 0.18. Based on this breakout, KAS might revisit its next big price target set at around $0.2 or possibly break its all-time high.

On the flip side, $0.11 represents a strong support level, in line with the 1.618 Fibonacci extension level.

The RSI for KAS currently stands at 68, indicating an overbought condition in the short term. However, the MACD line is above the MACD signal line, suggesting a bullish trend. Additionally, the 200-day moving average for KAS is $0.10, which could act as a crucial support level in case of a pullback.

Jasmycoin (JASMY) price pumping 

JASMY is up 12% this week and trading around 0.021 at press time. Following its $0.026 yearly high in early March, JASMY broke out of the descending channel (similar to KAS).

The MACD lines for JASMY are bullish, and the RSI is currently at 66, indicating a healthy uptrend and potential for further gains. Breaking the $0.026 level should be the next target for JASMY, according to analysts.

As HARA analyst on X (formerly Twitter) stated, “The market is reacting first, but $JASMY will release the #Roadmap for 2024 on Saturday the 23rd. I will take time next week to explain it to the community on TG.” The upcoming roadmap release could potentially provide further catalysts for JASMY’s price movement.

Dogecoin20 Smashes $5 Million in Hot Crypto Presale – Best Crypto to Buy the Dip?

Dogecoin20, a new meme coin project, has captured the attention of the crypto community by smashing over $5 million in its presale in just a few days, making it one of the hottest crypto presales currently underway.

The project’s tokenomics allocate 25% of tokens to the presale, 25% to marketing, 25% to the project treasury, 15% to staking rewards, and 10% to DEX liquidity. 

One of the key features of Dogecoin20 is its staking mechanism, which allows holders to stake their tokens for passive rewards, with an Annual Percentage Yield (APY) dependent on the amount of staked tokens. Early buyers of the token can start earning staking rewards from the presale itself, currently at an APY of over 1900%, paid in additional DOGE20 tokens.

In contrast to Dogecoin, which has an infinite supply, Dogecoin20 has a capped supply to address inflation and dilution concerns. The total number of DOGE20 tokens will never exceed 140 billion.

Uniswap DEX, the world’s largest decentralized exchange, will launch DOGE20 in the final phase. The team will add a substantial liquidity pool to Uniswap, allocating 10% of the token supply for this purpose. The presale buyers will also be able to claim their tokens at this point.

Conclusion

As the crypto market goes through the consolidation phase following the recent correction, investors are presented with various opportunities across different projects. While Bitcoin’s potential for another run towards its all-time high before the halving event remains a focal point, altcoins like Kaspa and Jasmycoin have demonstrated promising price pumps, fueled by positive developments and technical indicators.

Meanwhile, the emergence of Dogecoin20 as a hot crypto presale has captured the attention of the community, offering a unique opportunity for those interested in meme coins and staking rewards. In spite of this, investors must conduct thorough research and exercise caution when investing in any new crypto project due to the unpredictable nature of the crypto market.

*Cryptonomist did not write the article or test the platform.