Closely following crypto analysts identify 8 altcoin projects that show signs of potential growth. The choices and the reasons behind them are as follows…
Coin Bureau analyst watches Aave, THORChain and three additional altcoin projects
Guy Turner, host of the million-subscriber Youtube channel Coin Bureau, announced that he has identified five altcoin projects that he expects potential growth. Turner stated that he is quite bullish about the DeFi protocol Aave (AAVE).
The altcoin analyst says he trusts the project as a reason for Aave’s long existence and DeFi’s presence in a highly competitive space. Also, pointing out that Aave is working on its own decentralized stablecoin, GHO, Turner stated that the need for a fully decentralized stablecoin that really works is increasing day by day, and he thinks Aave has a high chance of succeeding.
Turner also focused on a decentralized data storage protocol called Arweave (AR). Stating that Arweave has one of the strongest use cases of crypto, Turner stated that he thinks Blockchain data should be used for immutable and permanent storage.
Axelar (AXL) and Lido Finance (LDO) are also listed
Turner’s third choice is the cross-chain communication protocol Axelar (AXL). Expressing his admiration for the interoperability of blockchains and a multi-chain future, Turner said he was impressed by the use case of Axelar and the unexpected good exchange support of the token.
Turner’s fourth pick was the liquidity staking service Lido Finance (LDO), where 30% of Ethereum is staked. Stating that Lido has long-term potential by focusing on Ethereum staking, Turner said that liquidity staking brings a different angle to this area and that Lido is the market leader.
Finally, Turner focused on the decentralized cross-chain liquidity protocol THORChain (RUNE). Noting that more than half of RUNE’s circulating token is now available, and exchange support has increased significantly recently, Turner stated that he thinks the crypto economy can play a central role if future regulations allow it and other DeFi projects.
Altcoin Sherpa prefers a meme token-heavy portfolio
cryptocoin.com Another analyst, Altcoin Sherpa, whose analysis we share with you, predicts a meme coin explosion in the near future as long as Bitcoin (BTC) manages to remain resistant. In his current analysis, he mentioned that altcoins are ready to shine, while meme coins may experience a particularly volatile rise.
Sherpa identifies meme coins like Dogecoin (DOGE), Floki Inu (FLOKI), and Shiba Inu (SHIB) as potential rally candidates. In his tweets, he said, “I think altcoins are still expecting a strong uptrend as long as BTC stays resilient. I believe meme coins will be the last runners up and accumulating some of these could be good for 100x or $0.
Sherpa also updates his predictions for Litecoin’s (LTC) outlook, saying that the former Bitcoin rival has formed a clean foundation close to the 200-week exponential moving average (EMA). According to altcoin Sherpa, LTC will rise at least 11% from the $90 level to over $100. According to their analysis:
Levels look pretty clean on the 1-week chart on LTC; The price is currently at the 200-week EMA. Here you have to be careful. However, in short time frames the outlook looks healthy; The moving averages are all aligning and I think we will test the low $100s soon.
Bitcoin must surpass this level for a bull move
The technical analyst, who looked at Bitcoin last, believes that it will make a correction first before the bears can expect a meaningful rise. He states that before BTC breaks the $29,000 resistance, it will experience a correction ahead of significant rallies:
We’re all celebrating now, but Bitcoin has just reached higher range levels. We need to see more continuation, current levels are a possible short and there is a clear cancellation situation. If the high time frame is closed above $29,000, things will quickly jump above $30,000.
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