Analysts Highlight Altcoins Poised to Outperform Bitcoin in 2024
Identifying Strong Altcoins
As the crypto market shows bullish trends this week, analysts are turning their focus to select altcoin poised to outperform Bitcoin in 2024. Renowned crypto analyst CryptoBulle highlights this as an optimal time to invest in certain altcoins that are at their low and are expected to reach new all-time highs (ATH) soon.
CryptoBulle suggests that buying these altcoins at their current low prices can lead to explosive gains during the impending bull market. The key to identifying these promising altcoin lies in their performance against the Fibonacci retracement levels.
CryptoBulle recommends drawing the Fibonacci retracement from the top to the bottom of their recent price movements to pinpoint which altcoin are likely to break their ATH. Those already tested the 0.618 Fib level—or even the 0.786 level—are considered strong candidates for new ATHs.
Altcoins To Make It ATH
NEAR Protocol (NEAR): Known for its scalability and user-friendly features, NEAR has shown resilience and potential for significant growth.
After hitting a low of $2.45 on January 23rd, the price surged to $9 by March 15th, a 265% increase. It then dropped 20%, stabilizing around $7.3. Currently, Near trades at $8.08, down 0.8% in the last 24 hours, with a market cap of $8.70 billion.
Arweave (AR): The storage token Arweave has experienced a remarkable surge in a strong rally, with its AR price soaring near $46.5. However, Arweave’s value is rising due to its new, faster, and more efficient blockchain, “Arweave AO.” This positive trend is reflected in a Fear & Greed Index reading of 57 (Greed).
MetisDAO (METIS): This Layer 2 solution for Ethereum is gaining traction for its ability to enhance scalability and reduce transaction costs. With a market cap of $326 million, Metis is trading at $57.73 reflecting a drop of 1.4%.
Avalanche (AVAX): Avalanche, a layer-one blockchain for decentralized applications and custom networks, is a strong competitor to Ethereum. Similarly, with the launch of Arweave AO, a new, faster, and more efficient blockchain, Arweave also strengthens its position against Ethereum.
Market Sentiment
The current bullish sentiment in the market, combined with strategic investment in these select altcoin, positions investors to reap substantial rewards potentially.
Subscribe to Amen Crypto newsletter for the latest altcoins updates and price predictions.
