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Top Coins Poised for Gains
On a publish on X, crypto analyst Miles Deutscher laid out his strategic predictions for high-performing cryptocurrencies next week to his 501,700 followers. His analysis delved into Bitcoin trading patterns, the growing AI-driven altcoin sector, and specific tokens that are exhibiting considerable potential given recent developments and broader market dynamics.
Bitcoin and AI Crypto Tokens Set to Dominate This Week
At the forefront of Deutscher’s analysis, Bitcoin recently returned to its previous trading range between $60,000 and $69,400 after suffering a sharp decline. This movement was characterized as a significant deviation, suggesting manipulation or a shaking of weak hands before a potential recovery.
“Bitcoin is at the top of my watch list this week. There was a big falsification/shift to the downside and now it is back in range,” said Deutscher. He highlighted that the main factor to watch is whether the lower limit of the current range will hold, which could serve as a solid foundation for an upward trajectory.
Furthermore, the AI sector has been particularly resilient and robust recently, recovering significantly amid broader market recoveries. Deutscher highlighted the sector’s potential for outperformance, driven by several important upcoming events.
These include Apple’s Worldwide Developers Conference (WWDC), NVIDIA’s earnings announcement, and the anticipated release of ChatGPT 5. “AI is one of those unique narratives that keeps sharing constant due to its never-ending stream/hype of life news real”, explained Deutscher.
A specific AI token that Deutscher watches closely due to its supposed partnership with Apple is Render (RNDR), making it an excellent candidate for speculation surrounding Apple’s next event. Historically, RNDR has also led the AI token sector during market rotations.
Additionally, Deutsches focuses on Near Protocol (NEAR), Search.ai (FET), AIOZ Network (AIOZ). He grouped these tokens together due to their correlation, but noted their recent technical performance where they have recovered perfectly from daily support levels and set higher lows.
More Altcoins to Watch
TONNE: Recently in the spotlight, TON suffered a crash following the Token2049 event, in what Deutscher described as a “news sell-off” scenario. However, recent investments from companies like Pantera signal continued interest and potential growth trends.
Ethena (ENA): With market sentiment optimistic again, Deutscher anticipates a return to positive funding rates, which typically benefit tokens like Ethena. The Ethena team’s recent activities, including increased rewards and upbeat posts from its founders on social media, further reinforce the discharge case. “I have also heard rumors of a listing on the T1 exchange,” Deutscher added, hinting at an imminent increase in liquidity and exposure.
Jito (JTO): Jito is reportedly developing what Deutscher called “Own layer of Solana”, with the aim of replicating the success and excitement around the Eigen project layer solutions. Despite the challenges of a recent airdrop, Deutscher sees potential if the team performs well, especially as the reestablishment narrative has not yet fully penetrated the market.
PopCat (POPCAT): Despite facing some fear, uncertainty and doubt (FUD) related to copyright issues over the weekend, POPCAT continues to exhibit strong price action, moving towards new highs. “POPCAT appears to be the best candidate, for now, not a single cat meme coin has yet reached the $1 billion market cap,” noted Deutscher, highlighting its remarkable performance.
Ethereum Finance (ETHFI): In the liquidity reward token (LRT) domain, ETHFI continues to be a notable mention despite a broader sector sell-off post-Eigen. Deutscher believes the sell-off may have been overly reactive and, with the total value locked (TVL) still on the rise, a reversion to the mean price could be imminent.
SEI Network (SEI): As anticipation builds for the launch of the new layer one blockchain, Monad, later this year, SEI is seen as a strategic move. Categorized in the Ethereum Virtual Machine (EVM) parallel narrative, SEI has suffered a substantial sell-off but is poised for recovery as market focus shifts to upcoming launches.
Friend friend): After recommending FRIEND At $1.30, Deutscher continues to see upside potential, especially as it approaches listings on more significant centralized exchanges. He advises keeping an eye out for big pullbacks as buying opportunities.
Featured image by Matt Paul Catalano/Unsplash, chart by TradingView.com