As the crypto market experiences bullish trends this week, analysts are spotlighting specific altcoins expected to outshine Bitcoin in 2024. Renowned crypto analyst CryptoBulle marks this period as an ideal time to invest in certain altcoins that are currently undervalued and predicted to hit new all-time highs (ATH) soon.
Read, understand, and add to your portfolio now!
CryptoBulle advises that purchasing these altcoins at their current low prices could yield substantial gains during the anticipated bull market. The key to identifying these promising altcoins lies in their performance against Fibonacci retracement levels.
The Fibonacci Factor
According to CryptoBulle, drawing the Fibonacci retracement from the top to the bottom of recent price movements helps pinpoint which altcoins are likely to break their ATH. Altcoins that have already tested the 0.618 Fib level—or even the 0.786 level—are considered strong candidates for new highs.
NEAR Protocol (NEAR): Known for its scalability and user-friendly features, NEAR has shown resilience and potential for significant growth.
After hitting a low of $2.45 on January 23rd, the price surged to $9 by March 15th, a 265% increase. It then dropped 20%, stabilizing around $7.3. Currently, Near trades at $8.08, down 0.8% in the last 24 hours, with a market cap of $8.70 billion.
Arweave (AR): The storage token Arweave has experienced a remarkable surge in a strong rally, with its AR price soaring near $46.5. However, Arweave’s value is rising due to its new, faster, and more efficient blockchain, “Arweave AO.” This positive trend is reflected in a Fear & Greed Index reading of 57 (Greed).
MetisDAO (METIS): This Layer 2 solution for Ethereum is gaining traction for its ability to enhance scalability and reduce transaction costs. With a market cap of $326 million, Metis is trading at $57.73 reflecting a drop of 1.4%.
Avalanche (AVAX): Avalanche, a layer-one blockchain for decentralized applications and custom networks, is a strong competitor to Ethereum. Similarly, with the launch of Arweave AO, a new, faster, and more efficient blockchain, Arweave also strengthens its position against Ethereum.
The current bullish sentiment in the market, combined with strategic investments in these select altcoins, positions investors to potentially reap substantial rewards. By identifying and acting on these opportunities, investors can capitalize on the impending market surge.
Ready to join the altcoin revolution? Which altcoins are YOU most bullish on for 2024?
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