Top 4 Crypto to Buy as the Fear and Greed Index Double Bottoms

Key Insights

• The crypto market has crashed by double digits in the past few months.
• Crypto Fear and Greed Index has moved to the extreme fear zone and double bottomed.
• The top crypto to buy today are Solana, Ethereum, Bitcoin, and XRP.

The crypto market slump accelerated this week. Bitcoin fell sharply, and most altcoins extended their losses. Together, they wiped out billions in value.

This article explores the best crypto to buy as the Fear and Greed Index hits extreme fear. Such conditions often trigger rebounds in the market.

Fear and Greed Index is Forming a Double Bottom Pattern

The crypto market crash could be about to end in the coming days or weeks. A good sign for this view is emerging.

The Crypto Fear and Greed Index is forming a double-bottom pattern in the extreme fear zone. This active setup often signals potential market stabilization and a possible rebound ahead.

The index has dropped to 11 from the year-to-date high of 55. In most cases, crypto bull runs normally starts when the index is in the extreme fear area.

In this case, it has formed a double-bottom at 10 and the neckline at 55. A closer look shows that the index formed the same pattern when it tumbled in March and April last year. This led to a strong bullish breakout.

At the same time, the Relative Strength Index (RSI) of most cryptocurrencies has moved to the oversold level. A rebound often follow it.

Ethereum as a Potential Crypto Investment Based on Strong Fundamentals

Ethereum is one of the best cryptos to buy because of its strong technicalities and fundamentals. Technically, the three-day chart shows that it has formed an inverted head-and-shoulders pattern.

This often leads to a strong rebound. The Relative Strength Index has also landed at the oversold level of 30.

The Ethereum network is thriving fundamentally. Nansen data shows active addresses are rising. Transactions have increased steadily.

Activity has grown over the last 30 days. It continues to dominate key areas like decentralized finance and real-world asset tokenization.

Solana to Benefit From the Alpenglow Upgrade

Solana price has crashed in the past few months. Also, this week, it dropped below the key support level at $100. This decline is mostly because of the ongoing crypto market crash and not its fundamentals. These fundamentals have strengthened in the past few months.

For example, demand for Solana is still high, with the staking ratio moving to 70%, a record high. Like Ethereum, Solana’s transactions, active addresses, and fees have soared in the past few weeks. Its fees jumped by 95% in the last 30 days to over $27 million and is narrowing the gap with Tron.

Solana’s upcoming Alpenglow upgrade is expected to enhance network speed. Analysts note it could handle over 100,000 transactions per second. This makes Solana a crypto to buy candidate for some investors.

XRP Price to Benefit From Regulatory Clarity

Ripple (XRP) token has also plunged in the past few months. It has moved from a record high of $3.6650 in July last year to the current $1.3880.

The coin has some potential catalysts that will boost its performance once the ongoing crypto crash ends. For example, Ripple Labs has acquired multiple licenses in the past few months.

It acquired an EU-wide electronic money license from Luxembourg. It also acquired licenses from the UK and the UAE, allowing Ripple Labs to strike deals with more companies.

At the same time, XRP Ledger is nearing the implementation of the Permissioned DEX features. Also, the market share in the Real-World Asset (RWA) tokenization industry has jumped to over $1.7 billion.

Bitcoin Price Has Become Oversold

Meanwhile, Bitcoin shows signs of a possible rebound. The Relative Strength Index has dropped to oversold levels, indicating the asset may recover as market conditions stabilize.

Additionally, Bitcoin always bounces back from its bear market. For example, it has dropped by over 20% from its peaks many times since its founding in 2009. Therefore, the coin will likely bounce back this time.

The other top crypto to you the dip in are Chainlink (LINK), Binance Coin (BNB), and Hyperliquid (HYPE).

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