Altcoins
Stack These Altcoins Now For Maximum Gains
The altcoin market is currently in a downtrend, but a recovery could happen soon. Analyst Crypto Jack said He said that Ethereum’s recent chart resembles the setup that existed before the 2020 altcoin rally. Back then, after breaking resistance, Ethereum saw sideways action before a significant surge. He hopes for a similar scenario this time around, not just for Ethereum but for altcoins and meme coins as well.
Meme coin market caps are recovering after a recent dip, and trading volumes are increasing. Coins like Doge and Pepe have seen dramatic gains. He’s keeping an eye on Ethereum and these altcoins:
Part 1: Myro
According to him, this meme currency is still in a favorable accumulation zone, and although it is currently down, this represents an excellent buying opportunity. From its current level, Myro could see a 225% increase if it returns to its all-time highs.
Exhibit 2: Optimism
This altcoin has rebounded nicely from its recent lows and has a price target of around $2.40. Be cautious about a potential short-term decline after the Ethereum ETF launch, but he believes OP will recover and rise in the long term.
Room 3: Solana
The analyst said that Solana is another standout performer. It has broken out of its triangle formation and is heading towards a target of $200. After a potential retest at around $160, Solana could be a fantastic buy and long-term value.
Exhibit 4: Arbitrum
After an impressive 200% rise last year, Arbitrum stock is back around $0.80. Despite a recent decline, the stock could rebound if it follows the same pattern as before.
The analyst also touched on the price of Bitcoin and said that he currently sees Bitcoin in a symmetrical triangle formation. After a recent drop to $53,500, Bitcoin has rebounded and reached a recent high of $68,500 on the 4-hour chart. Eyes are on the $70,000-$70,500 mark in the coming days.