Altcoins

The best Altcoins to stack as the market recovers from a recent correction

Published

8 months ago

8 June, 2024

The crypto market’s bullish trend fades overnight as US jobs data limits the chances of a rate cut. Countering the broader market anticipation of a rate cut, the crypto market collapsed, with altcoins seeing double-digit falls.

Amid the fall, meme coins and some of the top performers known for their massive rise last week or month are taking a huge hit. With $360 million in long liquidations yesterday, fear is growing in the market.

However, it has proven over time that the best time to invest is when the markets are bleeding. Likewise, the overnight bloodbath provides buying opportunities for some of the top performers, which are expected to recover quickly ahead of the June 12 FOMC meeting.

So let’s take a quick look at the list of best altcoins to stack before the market rebounds from the recent correction.

PEPE coin (PEPE)

With an impressive growth record over the past month, the PEPE price trend takes a conservative approach this week. Starting June on a slightly bearish trajectory, the altcoin is down 14.78% over the past eight days.

Commercial view

Showing weakness at the start of the month, the meme coin took a huge hit with an overnight drop of 10.94%. During this fall, PEPE price tests the 50D EMA to rebound with a lower price rejection.

This increases the possibility of a bullish reversal and reveals demand at lower levels. The upside potential for the PEPE token in June is $0.00002198.

Dog Hat (WIF)

Another coin that saw huge success last night, Dogwifhat, offers the opportunity to buy at lower levels. The altcoin price trend shows a strong support trendline in action in the daily chart. The ascending trendline has provided several bounces for the meme coin over the weeks.

Trading View

After the end of the pullback phase with the breakout of the trendline on the 1D chart, WIF price is in an uptrend. However, the 11.58% overnight decline is holding above the trendline with the formation of a long bearish tail candle.

Therefore, the uptrend continues despite the overnight drop and expects a rebound in the coming days. A bullish rise in WIF price could reach the $4.75 mark.

Singularity.NET (AGIX)

Besides meme coins, AI tokens have exhibited massive jumps in the recovering crypto market. However, the pullback phase of AGIX price falls below the 50D EMA and the support trendline.

Trading View

The overnight market decline causes the AI altcoin to drop significantly, representing a 9.98% price drop. This boils down to a price drop of 14.52% in 48 hours, creating two bearish engulfing candles.

However, the fall tests the 200D EMA and the $0.73 support level with a decline to the 50D EMA. Nonetheless, the weaker price rejection at this crucial demand level could propel the uptrend to reach the trend-based Fibonacci level of 23.60% and reclaim the psychological $1 mark.

Ocean Network (OCEAN)

With a decline phase visible on the daily chart, the OCEAN price trend is under bearish influence. The pullback phase forms a resistance trendline to create a declining triangle in the 1D chart.

Commercial view

As the altcoin tests the 200D EMA with a 9.67% crash overnight, the fall could continue if the market recovers after a break. However, a chance of a bullish reversal is significant with weaker price rejection despite bullish dominance at the $0.78 demand zone under tension.

A reversal turning into a breakout rally will send the altcoin price surging towards the $1.40 mark.

Notcoin (NOT)

Telegram meme coin Notcoin shows critical pullback with Bitcoin price slipping below $71,000. NOT price moves below the $0.020 support level and tests the 50D EMA.

Commercial view

Nonetheless, the prevailing uptrend supports the bullish sentiment and the altcoin is well above the 1.618 Fibonacci level. Additionally, in the 4H chart, the rebound from the 50 EMA signals a recovery ready to create a new all-time high.

The coin’s upside potential even hints at a potential breakout from $0.029 to reach $0.050 by the end of June.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.