Prominent analysts have expressed their thoughts on the possible increase in popularity of alternative cryptocurrencies as Bitcoin approaches $30,000. In this context, analysts shared altcoin projects that they expect to rally.
Five altcoins to watch out for
Crypto analyst Ton Busby suggests that the five altcoins are worth paying attention to. The first of these is Conflux (CFX). The coin is up 201.92% over the past 30 days and is showing signs of continued bullish momentum, possibly due to China’s narrative about the coin.
The second altcoin project is Stacks (STX). Another cryptocurrency with an impressive earnings history, Stacks has seen significant price movements. According to the analyst, it could have more potential if it bounces back to around $0.92 – $1.00 before surging higher. Leading altcoin Ethereum (ETH) is also on the list. cryptocoin.comAs you follow, Ethereum has Shanghai update in the coming weeks and months. It is expected to perform particularly well for this reason. Tom Busby suggests that if there is a bull run, ETH could reach $5,000 – $7,000 by the end of the year.
The analyst also lists Immutable X (IMX). This coin has already seen impressive gains. It could have more potential if it bounces back to around $0.94 – $1.14 before moving to $2.00 and beyond. Finally, the analyst chooses Binance Coin (BNB). According to Tom Busby, with its strong utility and link to the Binance exchange, BNB is likely to continue its uptrend and reach $397 soon.
Why do these altcoins have potential?
Tom Busby relies on technical analysis to identify these altcoins as those with the most earning potential. For example, it uses the Pivot Point Super Trend Indicator to analyze the price action of each coin and identify possible buy and sell opportunities. Additionally, it looks at the historical performance of each cryptocurrency to make its predictions. Overall, Tom Busby suggests that investing in legacy coins like these five altcoins can offer significant earning potential. However, he also advises investors to practice risk management and not invest more than they can afford to lose.
While emphasizing the earning potential of these altcoins, Tom Busby also emphasizes that their performance is largely dependent on the performance of Bitcoin. If Bitcoin crashed, these altcoins would probably do the same. Therefore, investors need to follow Bitcoin’s movements closely before making any investment decisions. Investing in cryptocurrency is always a risky undertaking. That’s why it’s important to do your own research and practice risk management. That said, Tom Busby’s analysis offers insights into which altcoins could have the most earnings potential in the coming weeks and months.
The leading altcoin has the potential to explode!
A popular crypto analyst nicknamed Altcoin Sherpa believes that Ethereum (ETH) will outperform Bitcoin (BTC) and eventually begin to outpace the top crypto asset by market cap. The analyst says that Ethereum is following its chart against Bitcoin (ETH/BTC). According to Sherpa, Bitcoin will continue to lead the market in the short term and then Ethereum will explode. In this context, the analyst makes the following statement:
ETH/BTC: I wouldn’t be surprised to see a bounce around this level, but I think it will rise to 0.055 (BTC) in the coming months. I think BTC performs slightly better than Ethereum and then ETH explodes later. He had many years of experience. This is probably the same situation.
At the time of writing, ETH/BTC is trading at 0.065 BTC or $1,824. According to the analyst’s chart, a move towards the target of 0.055 BTC ($1,543) indicates a higher low setup for ETH/BTC on the weekly time frame.
Analyst’s other altcoin picks
Looking at crypto exchange Binance’s utility token BNB, altcoin Sherpa thinks that the fourth-largest crypto by market capitalization is threatening to break through a key resistance level that has continued its downtrend since May 2022. The analyst said, “BNB: When will this area break? “The first two-day close since the last divergence in November 2022 – this is closely watching the $330 level,” he says.
The analyst then looks at MASK, the governance token of privacy-centric crypto project Mask Network. According to altcoin Sherpa, MASK is bullish but likely to witness a pullback before the next leg up. The analyst said, “MASK: It looks very strong but in an area of resistance; $5 is appropriate for a dip buy opportunity. $5-4.50 seems like a solid entry area,” he comments.
The last altcoin on the analyst’s radar is the decentralized borrowing protocol Liquity (LQTY). Altcoin Sherpa believes that LQTY can now consolidate in preparation for the next rally. “LQTY: I’m watching this,” he says.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.