Following Bitcoin’s recent record-breaking surge, the cryptocurrency market experienced a significant pullback, affecting several top altcoins. However, amidst this correction, there’s a buzz around certain altcoins poised for potential growth.
Renowned crypto analyst Stockmoney Lizards offers insights into the current market dynamics, pointing out the potential for accumulating top altcoins amidst the significant price adjustments. Alongside, the analyst shares a curated list of top-performing altcoins in 2024, shedding light on promising investment prospects.
Here’s what you should know.
RENDER (RNDR): Despite a modest 3.52% move, RNDR’s bullish chart suggests a potential rebound after another ATH hit. With a market cap of $4 billion, RNDR is currently trading at $10.62.
FILECOIN (FIL): FIL holds a strong long-term outlook, with a defined reserve area and high volatility. Trading at $8.58, FIL saw a 5.8% decline, bringing a trading volume of $374 million in the past 24 hours.
IMMUTABLE X (IMX): IMX has been on a consistent uptrend since October 2023, now undergoing a correction with potential support at previous swing highs. Trading at $2.82, IMX commands a market cap of $3.9 billion.
KASPA (KAS): KAS presents a complex chart similar to Bitcoin’s growth pattern. KASPA is currently down 8.59% and is trading at $0.14.
RIPPLE (XRP): While XRP’s chart initially looks solid, especially its failure to print new highs amid a sharp decline in trading volume. XRP is currently trading at $0.61 after a decrease of 34.14% in trading volume.
POLKADOT (DOT): DOT’s long-term strategy shows continued higher floor growth compared to January 2024. Currently, DOT sees $8.92 with a trading volume of $285 million.
Read More: Altcoins That May Kick-Start a Fresh Rise During the Weekend, Will Bitcoin & Ethereum Follow?
FETCH AI (FET): FET shows positive signals with a clear breakout pattern despite limited historical data, achieving a 4.5% decline. With a trading volume of $255 million, FET is trading at $2.48.
THE GRAPH (GRT): GRT’s bullish breakout suggests a possible upside for ATH, although trading volume shows a significant decline. GRT is currently down 12.19% and trading at $0.36.
SUI: Short-term performance of SUI shows promise amid ongoing hype, despite challenges in interpretation due to limited historical data. Further analysis is needed to assess SUI’s potential.
FANTOM (FTM): FTM is displaying a strong long-term chart pattern, which could reach new ATH despite a decline of 4.52%. Trading at $1.09, FTM has a market cap of $3.04 billion.
With the cryptocurrency market navigating through corrections and volatility, traders are closely monitoring these developments. Uncovering potential investment opportunities and understanding market sentiments remain essential for informed decision-making.
Also Read: Top 3 Crypto Predictions for 2024 As Altcoins Are on The Verge of Breakout
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