Analyst identifies best picks for rebound

• A cryptocurrency analyst says technical indicators show the tide is turning and the long-awaited altcoin season is approaching, with some popular coins already seeing gains in recent days.
• He added that 99% of meme coins will be abandoned and investors will lose their money, urging them to focus on more reputable altcoins, especially those targeting AI.

Altcoin season is almost here, and traders who invest in the right tokens will make millions, says a crypto analyst.

Known as the House of Crypto to its 137,000 followers, the analyst based his prediction on the MACD’s bearish crossover into Bitcoin dominance. The last three times this happened – 2017, 2020 and 2021 – marked the start of the altcoin season, as shown below.

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The analyst said that the crossover is happening right now, “and we are about to fall into another altcoin season.”

According to the analyst, the crypto goes through three phases before a massive breakthrough. The first is depression, where prices are suppressed and retail remains on the sidelines. This is followed by a short-lived price rise, known as the hope phase, which attracts retailers.

However, the third phase, known as the shake-up, is marked by a massive decline that shakes retail and casual investors. This is when big money likes to come in and accumulate the tokens, paving the way for massive gains.

We know that this game is manipulated to make you share your money.

The analyst believes that we are at the end of the upheaval and about to embark on a massive bull rally for altcoins.

He singled out BeamX as an altcoin with high upside potential: the token gained 15% over the past day after a sharp decline earlier in the week. He also claimed that Render, SingularityNET’s AGIX and Arweave were in a big buying phase: they all fell in the last week.

The analyst warned against investing in XRP, XTC, XLM and QNT, which he said “show no signs of strength.”

Meme coins have been some of the biggest gainers during the altcoin seasons. However, according to the analyst, investing in 99% of meme coins might be too big a risk. There are a few that will ride the momentum of the altcoin season and reach new highs.

He compared the coin mania to the NFT hype of 2022, where several celebrities stepped in to buy BAYC NFTs for millions of dollars. Several of these NFTs now cost less than a tenth of their original price. In today’s meme market, celebrities have emulated, including rapper Iggy Azalea, with the MOTHER coin, which sparked controversy, as shown in Crypto News Flash. reported.

Most cryptos were in the green over the past day, but have fallen more than 10% over the past week. DOGE, SHIB, Dogwifhat and FLOKI lost 15%, while others like BONK lost over 20%.

The analyst noted:

Crypto goes from periods of excitement and hype to periods of pessimism, which drives prices down, and this cycle will always repeat itself.

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