Bitcoin price crashed below $93,000 for the first time in over three weeks as concerns about tariffs and the upcoming NVIDIA earnings rose. BTC’s crash has pushed the MVRV-zcore to the lowest level since November 9 of last year. That is a sign that the coin has become cheap, and that it may rebound soon. Let’s explore some of the top crypto coins to buy as Bitcoin MVRV slips.
Crypto coins to buy as the Bitcoin price MVRV drops
Most crypto coins have crashed as Bitcoin price dropped on Tuesday. That happened because most altcoins have a close correlation with Bitcoin. However, some crypto coins may do better than others. Some of these tokens are Binance Coin (BNB), Tron (TRX), and AAVE (AAVE).
Binance Coin (BNB)
Binance Coin, popularly known as BNB, is one of the best crypto to buy as Bitcoin’s MVRV drops. BNB price was trading at $605 on Tuesday, down from this year’s high of $800.
This coin has a big chance of bouncing back because of the upcoming Pascal hard fork and other planned upgrades and its ecosystem growth. The Pascal upgrade, which will be activated mid-March, will help the network integrate more with Ethereum’s wallet.
The developers plan more upgrades by June that will lower the transaction time significantly. On top of this the BSC Chain is seeing a robust ecosystem growth. Indeed, the BSC DeFi total value locked (TVL) and the DEX volume has surged and flipped Solana and Ethereum.
BNB price has also formed a cup and handle pattern on the weekly chart. This pattern often leads to more continuation, which, in this case, may jump to over $1,000 in the coming months.
The other notable reason to buy the BNB coin is that it is one of the least uncorrelated crypto against Bitcoin.
Tron (TRX)
Tron is another top crypto coin to buy as the Bitcoin MVRV indicator crashes. The bullish case for Tron is that it has some solid fundamentals. It is the biggest player in the stablecoin processing industry, handling over $60 billion in volume every day.
Tron is also highly deflationary because of its regular token burn. Its annual deflation rate is about 2.9%. In contrast, the headline Consumer Price Index (CPI) in the US has moved to 3%.
Tron price also has some solid technicals. The daily chart shows that the TRX price has formed a falling wedge pattern, pointing to an eventual rebound. This pattern is made up of two falling and converging trendlines and a rebound usually happens when the two are nearing their confluence levels. That is a sign that the TRX price will soar from $0.2415 to $0.35.
Read more: Tron DAO raises investment to $75M in Trump-backed World Liberty Financial ahead of inauguration
AAVE (AAVE)
AAVE is another blue-chip crypyo coin to buy now that Bitcoin price MVRV indicator has slumped. AAVE is the second-biggest player in the decentralized finance industry after Lido DAO. It is the biggest lending protocol with almost $20 billion in assets.
AAVE price is now forming the handle section of the cup and handle chart pattern. C&H is a popular continuation sign in the market and the coin is now forming the handle section.
In AAVE’s case, the depth of this cup is about 93%. By measuring the same distance from the cup, we can estimate that the next target will be at $773, which is about 282% above the current level. It will need to rise above the resistance at $704, the all-time high first.
Other top crypto tokens to buy
The other most ideal crypto tokens to buy as the Bitcoin price MVRV-Z indicator crashes are in the meme coin industry. Some popular meme coins like Pepe, Floki, and Shiba Inu may stage a strong recovery in the coming weeks.
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