Altcoins
List of Market Leading Altcoins for Favorable Returns
According to analyst Nicholas Merten, Altcoins are becoming interesting again. He also explained how to spot market-leading altcoins. The analyst said that momentum is starting to build, making it a good time to consider altcoins. The current market range is more favorable compared to April or May, when profits were taken.
Despite recent gains, the altcoin market still has room to grow. Altcoins have yet to significantly outperform Bitcoin, so it’s important to stay in Bitcoin Temporarily, this is fine. However, it is possible to consider creating positions in altcoins if they perform well relative to Bitcoin.
Altcoins Worth Considering
It has drawn attention to a few altcoins like Fetch.ai (FET), Render (RNDR), and Stacks (STX). Fetch is holding up against Bitcoin, which is a positive sign. Render is up slightly, but its momentum has yet to fully return. Stacks has seen a few rallies and selloffs and is worth watching along its long-term moving averages.
The analyst explained that popular altcoins like Stacks have rallied around 44% in the past week, posting strong performances. Meme coins, such as MCoin, have also performed well, even hitting new highs during periods of market declines.
Merten advises looking for altcoins that show resilience during economic downturns, not just those that are down 90% or more. The key is to find altcoins that are resilient and display strong market leadership.
He stressed that even though some altcoins have gained 30-70%, it doesn’t mean they have recovered all their previous losses. It is essential to protect against losses and find strong momentum opportunities. Merten advised to watch for cryptocurrencies that maintain their position above key moving averages like the 9-day, 21-day, and 50-day EMAs.
Conclusion:
In today’s market, Coins with a political character Cryptocurrencies like Trump and Maga are gaining traction. However, it is important to wait for more significant price action to identify the true market leaders. Overall, Merten suggests focusing on altcoins that are showing strong price performance, potential market cap expansion, and maintaining momentum to generate substantial returns.