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2020 Altcoin Bull Run Setup Reappears: Stack These Altcoins Now For Maximum Gains

Published by
Anjali Belgaumkar

The altcoin market is currently experiencing a downtrend, but there could be a recovery soon. Analyst Crypto Jack said that a recent Ethereum chart resembled the setup that was before the 2020 altcoin bull run. Back then, after breaking resistance, Ethereum experienced sideways action before a significant surge. He is hoping for a similar scenario this time, not just for Ethereum but for altcoins and meme coins alike.

The market cap for meme coins is recovering after a recent dip, and trading volumes are rising. Coins like Doge and Pepe have surged dramatically. He is keeping an eye on Ethereum and these altcoins:

Coin 1: Myro

According to him, this meme coin is still within a favorable accumulation zone, and although it’s currently down, this presents a great buying opportunity. From its current level, Myro could see a 225% increase if it returns to its all-time highs. 

Coin 2: Optimism 

This altcoin has bounced nicely from its recent lows and is aiming for a price target of around $2.40. Be cautious of a potential short-term dip following the Ethereum ETF launch, but he believes OP will recover and push higher in the long term.

Coin 3: Solana

The analyst said that Solana is another standout performer. It has broken out from its triangle formation and is heading towards a $200 target. After a potential retest at around $160, Solana could be a fantastic buy and long-term hold.

Coin 4: Arbitrum

After an impressive 200% gain last year, it’s back around $0.80. Despite a recent dip, Arbitrum could see a rebound if it follows the same pattern as before.

The analyst also opened up about Bitcoin price and said that currently he is seeing Bitcoin within a symmetrical triangle formation. After a recent dip to $53,500, Bitcoin has rebounded and reached a recent high of $68,500 on the 4-hour chart. Eyes are on the $70,000 to $70,500 mark in the coming days.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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