Altcoin
Top analysts reveal the 4 best Altcoins set to explode in 2024
As the cryptocurrency market experiences bullish trends this week, analysts are highlighting specific altcoins that are expected to outperform Bitcoin in 2024. Renowned cryptocurrency analyst CryptoBulle marks this period as the ideal time to invest in some altcoins that are currently undervalued and predicts they will reach new all-time records. highs (ATH) soon.
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CryptoBulle warns that purchasing these altcoins at the current low prices could yield 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, tracking the top-to-bottom Fibonacci retracement of recent price movements helps pinpoint which altcoins may break their ATH. Altcoins that have already tested the 0.618 Fib level, or even the 0.786 level, are considered strong candidates for new highs.
Altcoins to keep an eye on
NEAR (NEAR) protocol: Known for its scalability and intuitive features, NEAR has shown resilience and potential for significant growth.
After hitting a low of $2.45 on January 23, the price rose to $9 by March 15, an increase of 265%. It subsequently fell 20%, stabilizing around $7.30. Near is currently trading at $8.08, down 0.8% over the past 24 hours, with a market capitalization of $8.70 billion.
Wave texture (AR): The Arweave storage token has seen a notable rise in a strong rally, with its AR price surge near $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 & Greed Index reading of 57 (Greed).
MetisDAO (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 top-level 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 also strengthens its position against Ethereum.
The market remains bullish
The current bullish sentiment in the market, combined with strategic investments in these select altcoins, positions investors to potentially reap substantial rewards. By identifying and exploiting these opportunities, investors can take advantage of the impending market surge.
Ready to join the altcoin revolution? Which altcoins are you most optimistic about for 2024?