Miles Deutscher has kicked off his weekly series on the top five cryptocurrencies he’s watching closely. These picks combine technical analysis with fundamental insights, providing key information for traders and investors looking to stay ahead of market trends.
These picks will definitely help you navigate the market with confidence. Read on!
Bitcoin is currently testing a critical support level of around $53.5K. This point is essential for determining the next move. If Bitcoin manages to hold and move upward from here, it could start a new bullish trend. On the other hand, if it breaks down, we might see further declines. The signs are leaning towards a potential reversal, but Bitcoin’s performance in the next few days will be crucial.
Solana is approaching a major resistance level, dubbed the “final boss” by analyst DocXBT, a leading analyst in Deutscher’s group. This level is key for Solana’s future price movement. If Solana can break through this resistance, it could enter a new bullish phase. Although Solana has been holding strong, the next few days will be critical in deciding whether it can surpass this significant barrier.
Fantom is making waves with its recent rebranding to Sonic Labs. This change is expected to draw more attention and boost Fantom’s price. The current price action is positive, with FTM reclaiming the $0.40 mark and forming a higher low. Both the Daily RSI and MACD indicators are showing strength, with values above key levels of 50 and 0, respectively. The $0.55 level is a crucial resistance that Fantom needs to overcome; if it does, a rise towards $1 could be likely.
The buzz around these updates makes FTM an intriguing pick right now.
Miles Deutscher praises SunDog’s chart as “one of the best altcoin charts in crypto right now.” Despite broader market struggles, SunDog has performed impressively. It recently broke above its range high, and if it surpasses its all-time high (ATH), it could lead to even greater gains. Deutscher sees the current performance as promising but believes the real excitement will come if SunDog breaks its ATH.
While many altcoins have been trending downward, Mantra DAO stands out by making higher lows, showing its relative strength. It has been consolidating just below its all-time highs, with the $0.95 level being a key point to watch. If Mantra DAO can reclaim this level, it might push towards its previous highs and beyond.
We’re excited to explore these top picks—are you?
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