Altcoins
Analyst Recommends Holding 30-50 Altcoins for Profits in Bull Market: Here Are the Best Picks
There has been a recent market pullback despite the positive inflows into ETFsHistorical trends suggest a brief pullback followed by a recovery. Bitcoin is showing signs of bullish divergence and low volume, suggesting a breakout. Solana and its ecosystem are doing well, with some tokens breaking weekly trends and showing strong growth potential.
On Crypto Banter’s The Sniper Trading show, The analyst said that recent chart analysis points to a bullish divergence in Bitcoin, indicating a potential rally if certain support levels hold. With the volume gradually decreasing, a volume breakout seems imminent, hinting at a major market move on the horizon. Moreover, it is Bitcoin week, which could bring major announcements and further market moves.
The analyst stresses the importance of being patient and diversified, holding at least 30 to 50 altcoins. Eventually, the analyst aims to consolidate his portfolio into major cryptocurrencies like Solana, Ethereum, and Bitcoin. The total market cap indicates that altcoins will see significant movements. Here are several cryptocurrencies mentioned by the analyst:
Injective
He said that Injective (INJ) as a token that has broken previous all-time highs and is currently retesting, mirroring Bitcoin’s historical performance. The analyst sees Injective (INJ) potentially entering a significant uptrend, expecting it to mirror Bitcoin’s previous performance of retesting and then hitting new highs.
Solana
He drew attention to a bullish cup and handle pattern on Solana (GROUND) and predicts it could reach $800 to $1,000 in the long term, while advising to take profits on significant price increases.
XRP
The analyst estimates XRP The stock is in a massive accumulation phase, but has yet to enter its first significant upside phase. This suggests that it could see substantial gains, even though it is not considered as fundamentally strong as Solana or Injective.
Dogecoin
He said that Dogecoin has broken out of its previous range. The short-term target is around $0.50, based on the high-time Fibonacci retracement. It can rise significantly, but it is prudent to take profits at resistance levels and keep some of it for possible additional gains.
Other Altcoins
Ethereum is solid for long-term holding, with short-term targets between $3,250 and $3,300 and potential declines to $3,100. Altcoins like AVAX, FTM, ADA, LINK, and NEAR are also in favorable zones.