How to Identify Top Altcoins to Buy as Crypto Market Recovers

The crypto market is heating up again. In the past 24 hours, the total market cap has climbed by 4.7%, with altcoins taking the lead. Major tokens like Ethereum, Solana, and Dogecoin are posting strong gains, catching the attention of both traders and analysts.

Behind the scenes, market dynamics are shifting, and one well-known analyst has just revealed a simple formula for spotting which altcoins might be next to explode.

Read on.

Altcoin Market Analysis

Ethereum is up 10.1%, XRP has gained 8.3%, and Solana has moved up by 8.4%. Dogecoin leads the pack with an 11.3% jump, followed closely by Cardano, up 10%, Avalanche rising 13.2%, Chainlink with an 11.6% boost, and Stellar gaining 10.2%.

This wave of bullish momentum across altcoins has sparked a fresh sense of optimism in the market. Crypto analyst Miles Deutscher has weighed in with a breakdown of how to identify which altcoins could be next to rally.

The total crypto market cap was $2.63 trillion at the start of April but dropped to $2.31 trillion by April 7. Since then, however, the market has bounced back by over 20.92%.

Altcoins are following the same pattern. After falling to $831.83 billion earlier this month, the altcoin market has now recovered by 17.57%, reaching $1.03 trillion. Over the last three days alone, it has grown by 7.67%.

Bitcoin Dominance Dips as Altcoins Regain Momentum

Bitcoin started April with a dominance level of 62.30%, which peaked at 64.59% before slightly falling to 64.31%. This slight dip shows that altcoins are starting to gain ground as some capital shifts away from Bitcoin.

Historically, a drop in Bitcoin dominance often signals growing interest and inflow into altcoins. Traders are now watching closely to see if this trend continues.

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Best Strategy for Spotting the Next Altcoin Pump

As interest in altcoins rises, analyst Miles Deutscher has revealed a simple but powerful framework for identifying coins that could be ready for a breakout. According to him, there are four main factors to look for:

1. Oversold Coins: Look for coins that have dropped significantly or are being shorted.
   
2. Strong Narratives: Coins tied to powerful stories, such as those in AI or gaming.
   
3. Upcoming Catalysts: Coins gaining attention due to upcoming events or news.
   
4. Technical Indicators: Coins that show a perfect alignment of technical signals, including key support and resistance levels.

Traders Position for What’s Next

With Bitcoin dominance easing and altcoins showing signs of recovery, many analysts believe the current rally may only be the beginning. By focusing on coins that are oversold, connected to strong narratives, have catalysts coming up, and meet technical criteria, traders may be able to catch the next big altcoin move.

As the market evolves, these insights could help investors stay ahead of the curve and prepare for the next major breakout in the altcoin space.

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