Altcoins
BNB, NEAR, RNDR and PEPE on the way to massive gains
After a recent significant pullback, the market has turned bearish, dominated by extreme fear. However, as market sentiment becomes more bullish, the likelihood of a substantial altcoin breakout increases, providing an opportunity for investors willing to act.
Expert Predictions: The Perfect Time to Maximize Profits
A prominent cryptocurrency expert has predicted a major breakout for altcoins, explaining that now is the perfect time to invest for those looking to maximize their gains and stay ahead of the cryptocurrency market.
On the Paul Barron network, guest Trading Parrot has joined and looked at altcoin breakouts in the context of an impending cryptocurrency market rally. The analyst compared Binance Coin (BNB) and other layer-1 cryptocurrencies. He said that BNB has performed exceptionally well and despite some recent declines, BNB remains strong compared to other layer-1 cryptocurrencies like Avalanche.
Binance Coin (BNB) Analysis
BNB Binance has been recording higher highs and higher lows, indicating a bullish trend. It has already experienced a breakout and hit an all-time high recently, showing its strength, especially given the negative sentiment and regulatory challenges Binance has been facing.
Opportunities under the Near Protocol
Next, he looked at the Near protocol. The analyst observed that it is still in an early entry phase and has not yet broken out, which presents an opportunity for traders. He added that Near is consolidating and entering a squeeze phase, which could lead to a breakout if Ethereum performs well in the coming weeks. The 120-day energy buildup suggests that a significant move could occur. Additionally, weak performance in social metrics often precedes a bullish reversal.
Rendering: Signs of Accumulation and Potential Breakout
The analyst also discussed Give back and has seen a similar pattern to other altcoins. Many have seen declines but are now showing signs of accumulation and potential breakout. Render is seeing bullish divergences and pressure to break above its trendline, indicating a possible move higher.
Meme Coins: Potential Bullish Moves for Pepe
For Meme Coins Like Pepe, the analyst pointed out that while some think they are dead, there are signs of a breakout. Pepe is approaching a trendline, and if it closes above that line, it could signal a strong move higher. Low social activity and high short interest create conditions ripe for a bullish reversal.
Read also: Top Low-Cap Memecoins Will See Massive Surge in July!