Altcoins
3 Altcoins That Could Undergo an Incredible Bitcoin-Like Bull Run in 2024 ⋆ ZyCrypto
The new quarter began with a collective altcoin recovery as Bitcoin struggles to stay above $60,000. For several reasons, SOL, AVAX and DOGE have become the most promising altcoins.
SOL is technically and fundamentally ready for a rally
While the Solana network has been experiencing network congestion Due to extreme RPC network issues related to charging, the asset remains an attractive altcoin at the moment.
Basically, SOL could benefit from the recent court ruling regarding cryptocurrencies. An analyst explains why the asset is about to reach new levels.
“Update on SOL: Now that the FTX Group stake is in the hands of Mike Novogratz and Dan Morehead, and the US court system has precedent that crypto is not a security, it will be sent to the moon, where it belongs,” he wrote.
Technical indicators also position SOL as a promising altcoin. Notably, the crowd’s opinion of SOL has not diminished since the Solana network outage recorded in February.
At the time of reporting, SOL is trading at $140.91, with its monthly gains still intact. The asset could continue up to $200 if the current trajectory is maintained.
AVAX Bulls Prepare for Upward Recovery
Avalanche (AVAX) is currently one of the few altcoins in the stable zone. However, the altcoin’s price performance may be linked to its recent rebound. Data from CoinMarketCap shows a daily price increase of 3.5% in intraday trading, hinting at a decline in selling pressure.
Market participants such as investors and traders could be on the verge of a bullish reversal as the bulls prepare to reclaim the price $40 above the 50-day exponential moving average (EMA).
As shown on the 4-hour chart, the AVAX altcoin maintained an uptrend; although slow, the gradual rise of the movement could lead to a recovery.
It appears that the bullish sentiments around AVAX are gradually turning positive, as the chart shows an increase in buying pressure.
At the time of reporting, AVAX is hovering at the $34.52 price level as the bulls attempt to erase slight weekly losses.
DOGE outperforms Bitcoin and other top altcoins
Dogecoin (DOGE), one of the best performing altcoins on the list, also became one of the top gainers in the top 10.
Validating its position as the most valued meme coin, DOGE surpasses its long-time competitor, Shiba Inu (SHIB).
Trading at $0.14, slightly below its daily all-time high, DOGE is slowly chipping away at weekly losses as trading volume surpassed 8% in 24 hours.