Altcoins
Top Analyst Reveals Top 4 Altcoins Poised to Explode in 2024
As the crypto market sees bullish trends this week, analysts are highlighting specific altcoins that are expected to eclipse Bitcoin in 2024. Renowned crypto analyst CryptoBulle sees this period as the perfect time to invest in some altcoins that are currently undervalued and expected to reach a record level. summits (ATH) soon.
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Explosive gains are coming!
CryptoBulle indicates that purchasing these altcoins at their current low prices could generate substantial gains during the expected bull market. The key to identifying these promising altcoins lies in their performance relative to Fibonacci retracement levels.
The Fibonacci factor
According to CryptoBulle, plotting the Fibonacci retracement up and down of recent price movements helps identify which altcoins are likely to surpass their ATH. Altcoins that have already tested the 0.618 Fib level, or even the 0.786 level, are considered good candidates for new highs.
Altcoins to watch
NEAR Protocol (NEAR): Known for its scalability and user-friendly features, NEAR has demonstrated resilience and significant growth potential.
After hitting a low of $2.45 on January 23, the price surged to $9 on March 15, an increase of 265%. It then fell 20%, stabilizing around $7.3. Currently, Near is trading at $8.08, down 0.8% in the last 24 hours, with a market cap of $8.70 billion.
Arweave (AR): Storage token Arweave saw a remarkable surge during a strong rally, with its AR price surge of almost $46.5. However, Arweave’s value is increasing thanks to its new, faster and more efficient blockchain, “Arweave AO”. This positive trend is reflected in a Fear and Greed Index of 57 (Creed).
MétisDAO (METIS): This layer 2 solution for Ethereum is gaining traction due to its ability to improve scalability and reduce transaction costs. With a market capitalization of $326 million, Metis is trading at $57.73 reflecting a decline of 1.4%.
Avalanche (AVAX): Avalanche, a layer-one blockchain for decentralized applications and custom networks, is a strong competitor to Ethereum. Likewise, with the launch of Arweave AO, a new faster and more efficient blockchain, Arweave is also strengthening its position against Ethereum.
The market remains bullish
The current bullish market sentiment, combined with strategic investments in these select altcoins, allows investors to potentially reap substantial rewards. By identifying and acting on these opportunities, investors can capitalize on the impending market rise.
Ready to join the altcoin revolution? Which altcoins are you most optimistic about for 2024?