Altcoins
Top Altcoins to Watch, Accumulate, and Mine in July
Analyst Miles Deutscher presented his latest analysis and opened up about the top five altcoins they are accumulating in July, despite the traditionally slow summer months and recent price swings. He believes the market is offering better pricing and a cooling off period, allowing for targeted research and accumulation. Despite recent market retracements, he sees signs of recovery, particularly in altcoins.
Part 1: Thorchain
The analyst said that Thorchain has unique dynamics due to its nature as a “reflexive asset.” In a bull market, Thorchain’s mechanics can drive significant price appreciation. RUNE is hovering around $3, a strong period support level on the weekly chart. While RUNE could continue to bleed if the overall market remains bearish, it has the potential to outperform in the next bull market.
Part 2: Zero Layer
Many altcoins with upstream emissions have suffered from bear markets, leading to significant undervaluation. He said coins like Layer Zero, which have been beaten down but are fundamentally sound, can see sharp upward price swings when market conditions improve. In the absence of a short-term release, this prevents price suppression caused by excess supply entering the market.
Exhibit 3: Ondo Finance
The cryptocurrency has seen a significant decline from its highs, but it shows potential, especially with the ETH ETF and the broader RWA narrative gaining traction. He highlighted important price levels for Ondo, such as $1 for long confirmation and the mid-range of $0.75 as a key support area.
Part 4: Prime Echelon
Finally, he mentioned Prime Echelon Prime from the AI & Gaming category, which has pulled back significantly and is at a key support level, making it a good candidate for long-term accumulation.
Room 5: Pepe and other meme rooms
Despite the loss of many altcoins, major memes like Pepe, Whiff, Bonk, Mog, and Popcat have shown strength during market rallies. He said memes are seen as an important narrative with high mindshare in the crypto community. The “barbell strategy” of holding Bitcoin and prominent memes has been effective, adding that small-cap memes are riskier and it’s better to focus on established coins like Pepe.