Cardano

Arbitrum

Dogecoin

Shiba Inu

Spot

The crypto market is noticeably lethargic on Monday amid heightened anticipation for the Securities and Exchange Commission (SEC) to approve&nbsp;<a href="https://coingape.com/markets/bitcoin-price-in-the-limelight-gearing-up-for-50k-ahead-of-spot-btc-etf-approval/" rel="noopener noreferrer nofollow">spot Bitcoin exchange-traded funds (ETFs)</a>. As discussed in the&nbsp;<a href="https://coingape.com/solana-sol-price-tanks-another-6-slipping-under-90-will-it-reclaim-100/?utm_source=24hrsupdatealtcoin" rel="noopener noreferrer nofollow">Solana price</a>&nbsp;prediction article, altcoins suffered the biggest setback last week, as uncertainty clouded the market about the ETF. However, with the right entries, investors can identify the top altcoins to buy for 2024 featuring tokens like Cardano (ADA), Dogecoin (DOGE), and Arbitrum (ARB).
<h2 class="p1" id="cardano-price-prediction-as-ada-stands-out-among-top-altcoins-to-buy">Cardano Price Prediction As ADA Stands Out Among Top Altcoins To Buy</h2>
Cardano is buoyant above $0.5 after rebounding from the weekend support at $0.46. Further, northbound movement is expected to gain momentum steadied by key indicators like the Moving Average Convergence Divergence (MACD) indicator.
Investors will continue to enter new positions in Cardano as long as the momentum indicator rallies in support of the uptrend. The buy signal in the four-hour timeframe reveals that buyers have the reins.
A four-hour candle close above $0.5 is necessary to sustain the bullish thesis. Besides, it may be prudent to wait until ADA climbs above the 20 Exponential Moving Average (EMA) (in blue) before firing the buy orders.
<figure id="attachment_172868" aria-describedby="caption-attachment-172868" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-172868" src="https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21.png" alt="Cardano price chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21.png 2710w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-08_20-19-21-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-172868" class="wp-caption-text">
 Cardano price chart | Tradingview
 </figcaption>
</figure>
There is growing potential for a V-shaped recovery — one that could blast&nbsp;<a href="https://coingape.com/price/cardano/" rel="noopener noreferrer nofollow">Cardano price</a>&nbsp;above resistance at $0.65 and bring the token closer to the medium-term goal of climbing above $1.
Investors entering positions in ADA have an opportunity to incorporate a dollar-cost average (DCA) strategy to reap maximum benefits as crypto prices rally due to the approval of the spot Bitcoin ETF this week and the halving in April.
<h2 class="p1" id="can-dogecoin-price-hit-1-in-2024">Can Dogecoin Price Hit $1 In 2024?</h2>
Dogecoin rolled back from highs recorded in December at $0.105. The sell-off to the support at $0.075 can partly be attributed to traders cashing out to lock in the gains and widespread headwinds in the market due to the BTC ETF jitters.
Currently,&nbsp;<a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a>&nbsp;holds above a confluence S/R created by the 200-day Exponential Moving Average (EMA) (in purple) and the lower ascending trendline around $0.0771.
Changing the trend back to bullish from this support would put bulls back on the reins. However, DOGE must rise above the dotted trendlines to validate a long-term bullish theory.
<figure id="attachment_172870" aria-describedby="caption-attachment-172870" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-172870" src="https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39.png" alt="Dogecoin price chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39.png 2710w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-08_20-36-39-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-172870" class="wp-caption-text">
 Dogecoin price chart | Tradingview
 </figcaption>
</figure>
Some investors may want to ascertain that the MACD indicator has flashed another buy signal before going all-in on Dogecoin. Such a call to action would manifest with the blue MACD line crossing above the red signal line.
The potential return past resistance at $0.1 would create FOMO speculators envisioning DOGE above $1. With capital inflow in the crypto market increasing with the ETF approval, an altcoin season is on the horizon which could make the $1 prediction conservative.
<h2 class="p1" id="arbitrum-price-forecast-as-wedge-breakout-eye-14-move">Arbitrum Price Forecast As Wedge Breakout Eye 14% Move</h2>
Arbitrum slowed down the uptrend after hitting a new all-time high at $2.11. Although ARB extended the price discovery mode in January’s first week, sellers soon caught up with it, culminating in a retracement to $1.6.
The price consolidated within two falling trendlines connecting a series of lower highs and lower points. As the short-term falling wedge pattern formed, bulls started pushing for a potential breakout.
<figure id="attachment_172869" aria-describedby="caption-attachment-172869" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-172869" src="https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07.png" alt="Arbitrum price chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07.png 2710w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/01/ARBUSD_2024-01-08_21-25-07-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-172869" class="wp-caption-text">
 Arbitrum price chart | Tradingview
 </figcaption>
</figure>
Traders should be ready to enter new buy positions backed by an incoming buy signal from the MACD and a wedge pattern breakout. A four-hour candle close above the wedge and S/R at $1.8 or the 20 EMA (in blue) would suggest that buyers have the upper hand.
In that case, investors would anticipate a 14% move with Artbitrum buoyant slightly above $2. However, the wedge pattern breakout might be invalidated if ARB fails to close the day above $1.8. Hence, the need to keep support at $1.6 in mind despite the bullish narrative implying that a larger breakout is beckoning.
<h3 class="p1" id="related-articles">Related Articles</h3>
<ul>
 <li class="p2"><a href="https://coingape.com/spot-bitcoin-etf-this-issuer-may-miss-first-wave-of-launch/?utm_source=24hrsupdateall" rel="noopener noreferrer nofollow">Spot Bitcoin ETF: This Issuer May Miss First Wave of Launch</a></li>
 <li class="p2"><a href="https://coingape.com/markets/shiba-inu-price-prediction-as-support-25-upswing-ahead/" rel="noopener noreferrer nofollow">Shiba Inu Price Prediction As Multiple Support Signals 25% Upswing Ahead</a></li>
 <li class="p2"><a href="https://coingape.com/markets/ethereum-price-eruption-past-3k-imminent-investors-unpack-vitalik-s-bull-run-tips/" rel="noopener noreferrer nofollow">Ethereum Price Eruption Past $3k Imminent? Investors Unpack Vitalik ‘s Bull Run Tips</a></li>
</ul>
The post <a href="https://coingape.com/markets/top-altcoins-to-buy-today-january-8-with-spot-btc-etf-beckoning-ada-doge-arb/" rel="noopener noreferrer nofollow">Top Altcoins To Buy January 8 With Spot BTC ETF Beckoning: ADA, DOGE, ARB</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Top Altcoins To Buy January 8 With Spot BTC ETF Beckoning: ADA, DOGE, ARB

Table of Contents

Coingape News Media

Other articles published on Jan 8, 2024

Crypto Vision Conference 2024 – Philippines: “Decrypting the Crypto Market Outlook for 2024”

South Korean Lawmaker: Top Crypto Exchanges ‘Neglect Responsibilities’

Bitcoin ETF Fee War Erupts as Valkyrie, ARK, 21Shares File Amendments

Bitcoin ETF race enters final lap, Who holds edge Grayscale or BlackRock?

Binance’s problems pile on as BUSD loses market cap

Pantera, VanEck prepare to make investment following spot Bitcoin ETF approval

Join our free newsletter for daily crypto updates!