Altcoin
Trader Jason Pizzino says Solana and another altcoin will be the first to hit new highs this year
A closely followed analyst says altcoins that show relative strength during the latest crypto correction will be the first to hit new highs this year.
Analyst Jason Pizzino tells his 108,800 followers on social media platform X who are keeping an eye on altcoins that are printing higher and lower bullish setups.
“Strong altcoins continue to hold higher lows. If they maintain these levels, they will be the first to reach new highs and/or all-time highs in the second half of 2024.”
In a video update, Pizzino says he has compiled a list of altcoins that are doing better than others during the crypto correction. But he says there are two that stand out.
“I have some stronger things… Solana is definitely one of them… Pendle still holds above its 50% and has a reasonable weekly close above 50% again at $5.60.”
Source: Jason Pizzino/YouTube
According to Pizzino, the current altcoin meltdown is giving long-term investors another opportunity to load up on good projects in anticipation of a rally later this year. The trader points out that deep declines have occurred in the past, but strong altcoins tend to post massive gains once the dust settles.
“It’s happened before. We finally got there. Solana I think it’s fantastic. If you’re not convinced, take a look at some of these charts that dropped 80% over the course of four to six months… and then how they’ve risen since then. And that boom can last a long time.”
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