After a 30% drop in Bitcoin, wherein Bitcoin (BTC/USD) fell from a new all-time high of $68000 to $49000 many investors lost a lot of gains as many coins crashed in price. This ended up with many coins dropping significantly from their highs, which has given investors who missed the previous rally another chance to get in before the next rally. However, investors must be cautious as several coins could still fall further. Thus here are some fundamentally strong coins to buy the dip in.
Solana (SOL/USD) has fallen by over 30% from its all-time high that it achieved in a sharp bullish rally in November. Solana is a web-scale blockchain that provides fast, secure, scalable, decentralized apps and marketplaces. Moreover what makes the “Ethereum successor”, Solana special is that it is built for speed and can currently execute over 50 000 transactions per second. Bitcoin and Ethereum, on the other hand, process five and 15 transactions per second, respectively. Solana has also taken support from the support at $155 and it is looking like it could be the start of another rally which could end up at a new all-time high.
2. Polygon Network
Polygon Network (MATIC/USD) is a coin that has sustained the market correction and has also hit a new all-time high even with other coins falling up to 30-40%. It is also forming a bullish volatility contraction pattern on the weekly time frame and could break out in the coming weeks and start a strong bullish rally. Thus Matic which is supported by great fundamentals and bullish technicals is looking like a great pick.
3. Terra Token
Terra (LUNA/USD) is another coin that has sustained the market correction and has also hit a new all-time high. This shows the strength in Luna is very bullish and that the rally will be continuing. After hitting a new all-time high earlier in December, Luna is in a corrective move. Thus this could be a great time to enter as it has already retested the support at $50, and could now be heading towards a new all-time high. It is looking like a bullish stable coin with some great fundamentals that could rally soon.