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Best Altcoins to Buy Today, February 24 - RNDR, SKR, JASMY

Highlights:

  • Render is in a key accumulation area with a possibility of significant gains once it crosses $2.71.
  • Seeker surged by more than 40%, breaking up the consolidation, and now targets further highs toward $0.0364.
  • JasmyCoin is positioned in a key falling wedge, and a huge breakout is possible should the trend continue.

The crypto market has extended its downtrend as Bitcoin dropped below $63K, leading to the broader downturn. The total market capitalization has declined by 3.35% to $2.19 trillion despite the surge in the daily trading volume. Moreover, the fear and greed index is still hovering around the “Extreme Fear” level at 11. Amidst this overall negative sentiment, let’s take a look at the best altcoins to buy today, such as Render, Seeker, and JasmyCoin.

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Best Altcoins to Purchase Today

1. Render (RNDR)

Render has dropped by more than 4% over the last 24 hours. As of this writing, the altcoin is trading at around $1.34, with a market capitalization of $690 million. Its 24-hour trading volume has also taken a hit, declining to $30 million.

RNDR Price Chart: CoinMarketCap

Render’s price has declined by approximately 91% relative to its all-time high (ATH) of $13.83. The altcoin is currently positioned in a high-timeframe bullish order block, specifically in the range of $1.35 to $1.00. This zone has been described as being crucial to accumulation and liquidity absorption by crypto analyst Crypto Patel.

A weekly close below $0.845 would indicate invalidation, but as long as this level holds, the market structure is positive. Breaking the $2.71 level would indicate a reversal in trend, with possible long-term targets of $5.50, $13, and even $28. The analyst also noted that the current correction may be the last accumulation stage prior to a possible parabolic surge.

2. Seeker (SKR)

Seeker’s price has broken out of the consolidation phase around the $0.01800 region. The altcoin has shown resilience, surging by more than 40% on the daily chart despite the broader market downturn. Currently, the price is hovering around $0.02738. Moreover, its trading volume has exploded by over 1000% to $130 million.

Seeker Price Chart: CoinMarketCap

SKR recently reversed its falling trend, with the price holding above $0.0240. Analysts have pointed out that in case the price remains above $0.0212, the upward trend might continue. The second major resistance point is at 0.0287. Should SKR break this level, it could increase to $0.0364.

However, a decline under $0.0212 would nullify the existing breakout and indicate a possible turnaround. The decisive move above the trendline is essential, but more upside requires sustained support above $0.0212.

3. JasmyCoin (JASMY)

JamsyCoin is exchanging hands around $0.005557, down by 7% over the last 24 hours. JASMY has been trading in a descending channel recently, recording a decline of 22% on the monthly chart. Despite the negative trend, the altcoin’s trading volume has surged by 10% to $22 million.

JASMY Price Chart: CoinMarketCap

Crypto analyst Javon Marks has highlighted JASMY’s recent price activity. The altcoin is still creating higher lows since late 2022 and is in a key falling wedge pattern. This trend has been in the past followed by major price changes, where a prior breakout resulted in 1,600% growth.

In the event this current trend repeats its course, JASMY might break out once more, with a price target of $0.2785. The target, which exceeds 4,310% from the current position, shows that substantial growth potential exists if the breakout occurs as expected.

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