With Bitcoin (BTC) and Ethereum (ETH) prices volatile on the heels of hitting multi-year highs earlier in the session, investors are looking for altcoins with more compelling upward momentum in hopes of finding the best cryptocurrency to buy today.
Bitcoin briefly topped $53,000 on Tuesday, while Ethereum temporarily traded at the $3,000 handle.
Both have since fallen about 3%, with BTC now trading at a low of $51,000 and ETH back at $2,900.
With Ethereum failing to cross $3,000 and Bitcoin seemingly still confined within the recent ranges between $51,000 and $53,000, traders are looking for alternatives that could be the best cryptocurrency to buy today.
Below are some of the smaller altcoins that are currently trading with stronger bullish momentum.
Best cryptocurrencies to buy today
File Currency (FIL)
The decentralized data storage protocol Filecoin (FIL) has recently exploded.
FIL reached nearly $8 per coin on Tuesday, near its highest levels of the year.
Finally above $7.50, FIL rose more than 9% in 24 hours, according to CoinMarketCap.
Filecoin's price is up 60% from its yearly lows, and if it can break through the resistance at $8.10, it could quickly rise another 25% to its 2023 highs of $9.50.
The potential for potential quick gains makes FIL among the best cryptocurrencies to buy today.
Chilis (CHZ)
Another altcoin with strong momentum is the sports and entertainment-focused blockchain Chiliz (CHZ).
Up 6% in 24 hours according to CoinMarketCap, CHZ recently reached multi-month highs above $0.1260.
The CHZ index is up a staggering 125% from its lows last October.
But this may be nothing compared to the gains ahead, if CHZ can break the long-term downtrend.
If possible, a rally to 2022 highs of $0.30 or to record levels near $1.0 is possible.
That's why CHZ could be one of the best cryptocurrencies to buy today.
Siaquin (SC)
Decentralized cloud storage network Sia's native token Siacoin surged 6% in 24 hours, according to CoinMarketCap.
SC just reached its highest level since early 2022 above $0.015.
Up over 500% from its 2023 lows, SC is looking to rally another 300% towards its 2021 record highs above $0.06 per coin.
With a market capitalization of only about $800 million, 4x gains are certainly within the realm of possibility.
Hence, Siacoin can easily be ranked among the best cryptocurrencies to buy today.
Encryption alternatives to consider
All of the above currencies provide potential investors with a great opportunity to make strong gains.
While the future is always uncertain in the cryptocurrency space, these names may be among the best cryptocurrencies to buy today.
However, those looking for a better potential for near-term gains should consider an alternative high-risk, high-reward investment strategy – participating in cryptocurrency pre-sales.
Pre-sales provide investors with a routine to get involved in a project in its very early stages, thus potentially generating up to 100x returns.
If investors can identify projects with a solid foundation, the risk/reward of their investment is very good.
Analysts at Cryptonews spend a lot of time examining new pre-sale projects.
Here are 14 of the best prequels of 2024, according to the Cryptonews team:
See 14 cryptocurrencies
Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
