4 Stellar Altcoins to Buy Before the $10 Billion Market Cap Explodes

The cryptocurrency market entered the third quarter of 2024 on a bullish note as Bitcoin Price The correction has stabilized above the $60,000 support. The easing of the current selling pressure has supported most major coins to form a proper bottom and prepare for the next recovery surge. Amid the potential reversal, Chainlink (LINK), Polkadot (DOT), Litecoin (LTC), and Polygon (MATIC) have emerged as the best altcoins to buy and make the most of the post-correction rally.

In a recent analysis shared by popular trader Alicharts, it is evident that the adage “Sell in May and walk away” has lost its relevance for this year as Bitcoin is seeing a significant resurgence in retail interest.

According to data highlighted by Alicharts, the number of new Bitcoin The number of addresses hit a four-month high of 432,026. The spike suggests a robust return of retail investors to the cryptocurrency market, marking a potential shift in market dynamics.

Read also : Bitcoin Miners Continue Selling BTC as Network Fees Drop 90%

• Altcoins to Buy – Chainlink (LINK)

Chain link (LINK) is a decentralized oracle network designed to bridge the gap between blockchain smart contracts and real-world data. LINK, the native cryptocurrency of the Chainlink protocol, saw a notable outflow during the June market correction, dropping its price from $19.2 to $12.6 for a 34.3% loss.

Chainlink (LINK) | Tradingview

However, the altcoin immediately retraced from the $12.6 support accompanied by a 32.6% Fibonacci retracement level and a 100W EMA. The potential reversal pushed the Chain link price by 16.8% to trade at $14.5, while its market capitalization jumped to $8.85 billion.

With sustained buying, LINK price is poised for a 15% rally and is challenging the downtrend line. A possible breakout of this resistance would be a better signal for a sustainable rally.

Read also : Chainlink Price: Whale Buying Frenzy Hints at 15% Surge, But There’s a Catch

• Altcoins to buy Polygon (DOT)

Peas (DOT) is a unique blockchain protocol that aims to enable multiple blockchains to transfer messages and value in a trustless manner; sharing their unique features while pooling their security.

Polkadot (DOT) | Tradingview

Over the past three months, the POINT The price has been in a steady downtrend, developing a falling wedge pattern. The two converging trendlines as dynamic resistance and support have plunged the asset to a 200-day low at $5.39.

However, with the recent market turnaround, the Polkadot Price fell 21.25% to trade at $6.53, while the market capitalization jumped by $9.38 billion.

Amidst this rally, DOT price diverged above the wedge pattern resistance, signaling the end of the correction phase. The post-breakout rally could encourage buyers to target $7.77, followed by $10 and $11.9.

Litecoin (LTC) is a peer-to-peer cryptocurrency designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.

Litecoin (LTC) | Tradingview

Similar to Polkadot, LTC price has been experiencing a steady corrective trendline resonating within the falling wedge pattern. The chart pattern is known to lead to a temporary drop before the price breaks the upper trendline to resume the uptrend.

On June 24, the altcoin rebounded from the $67.5 support to surge 11.5% to $75.27. At press time, Litecoin holds a market cap of $5.615 billion, while the 24-hour trading volume hovers at $223.2 million.

With sustained purchases, the LTC Price could break above the upper trendline and pursue a potential target of $112.8.

Polygon (MATICS) is a layer 2 scaling solution for Ethereum, designed to improve its scalability and usability without compromising decentralization.

Polygon (MATIC) | Tradingview

Amid the recent market recovery, the MATIC price correction moved sideways, stabilizing above the $5.4 mark. The daily chart producing candlesticks with short bodies and long wicks indicates the trader’s uncertainty and the absence of clear dominance of buyers or sellers over this asset.

At the time of going to press, the Polygon Price The altcoin price is $0.569 and its market cap is $5.61 billion. If the market recovery continues, this altcoin could break above the upper trendline that carries the current corrective trend.

The potential breakout will accelerate the bullish momentum to lead to a rally to $0.76, followed by $1.08.

Key takeaways

After a sharp correction in June, the cryptocurrency market showed signs of bottoming among major altcoins, with Bitcoin price rebounding from $60,000. This recovery has renewed investor sentiment, providing an opportune time to buy altcoins, which are on the verge of reaching a market cap of $10 billion.

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Frequently Asked Questions (FAQ)

A decentralized oracle network is a technology that connects blockchain smart contracts to external data sources in a secure and reliable manner.

The falling wedge pattern is a technical analysis formation characterized by converging trendlines surrounding a price that is moving downward. This pattern is commonly identified as a bullish indicator

The 100-week Exponential Moving Average (100-week EMA) is a technical indicator used to analyze long-term price trends of a security or cryptocurrency.

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