4 Stellar Altcoins to Buy Before the $10 Billion Market Cap Boom

The cryptocurrency market entered the third quarter of 2024 on a bullish note as Bitcoin Price The correction has stabilized above the $60000 support. The ease of the prevailing selling pressure has strengthened most of the major coins to form a suitable bottom and prepare for the subsequent recovery jump. Amid the potential reversal, Chainlink (LINK), Polkadot (DOT), Litecoin (LTC), and Polygon (MATIC) have emerged as the best altcoins to buy and make the most of the post-correction rally.

In a recent analysis shared by popular trader Alicharts, it is clear that the adage “Sell in May and go away” has lost its relevance this year, as Bitcoin is seeing a significant resurgence in consumer interest.

According to the data highlighted by Alicharts, the number of new Bitcoin addresses rose to a four-month high, reaching 432,026. This spike suggests a robust return of retail investors to the cryptocurrency market, signaling a potential shift in market dynamics.

Read also: Forced selling of BTC by Bitcoin miners will continue as network fees plummet by 90%

• Altcoins to buy: Chainlink (LINK)

Knitted sweater (CONNECTION) is a decentralized oracle network designed to bridge the gap between blockchain smart contracts and real-world data. LINK, the native cryptocurrency of the Chainlink protocol, saw a significant outflow in the June market correction, sending its price crashing from $19.2 to $12.6 and recording a loss of 34.3%.

Chain (LINK) | Tradingview

However, the altcoin immediately retraced from the $12.6 support, accompanied by a 32.6% Fibonacci retracement level and a 100W EMA. The potential reversal lifted the Chain price by 16.8% to $14.5 billion, while its market capitalization jumped to $8.85 billion.

With sustained buying, LINK price is poised for a 15% rally and challenges the descending trendline. A potential breakout from this resistance will be a better signal for a sustainable rally.

Read also: Chainlink Price: Whale Buying Rush Suggests 15% Upside, But There’s a Catch

• Altcoins to buy Polygon (DOT)

Polka dot (DOT) is a unique blockchain protocol that aims to enable multiple blockchains to transfer messages and values ​​without trust by sharing their unique characteristics and pooling their security.

Polkadot (DOT) | Tradingview

Over the last three months, the POINT The price has witnessed a steady downtrend developing a falling wedge pattern. The two converging trend lines as dynamic resistance and support have dropped the asset to a 200-day low of $5.39.

However, with the recent market turnaround, Polkadot Price recorded a 21.25% reversal to $6.53, while its market capitalization jumped to $9.38 billion.

Amid this rally, DOT price gave a divisive breakout from the wedge pattern resistance, signaling the end of the correction phase. The post-breakout rally could support buyers to target $7.77, followed by $10 and $11.9.

Litecoin (LTC) is a peer-to-peer cryptocurrency designed to offer fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.

Litecoin (LTC) | Tradingview

Similar to Polkadot, LTC price has been witnessing a steady correction trend line that resonates within the falling wedge pattern. The chart setup is known to lead to a temporary dip before the price breaks the overhead trend line to resume the uptrend.

On June 24, the altcoin bounced off the $67.5 support to surge 11.5% to $75.27. At press time, Litecoin has a market cap of $5.615 billion, while its 24-hour trading volume is hovering at $223.2 million.

With a sustained purchase, the LTC Price could break the upper trend line and chase a potential target of $112.8.

Polygon (MATIC) is a Layer 2 scaling solution for Ethereum, designed to improve its scalability and usability without compromising decentralization.

Polygon (MATIC) | Tradingview

Amid the recent market recovery, MATIC price correction has moved sideways, settling above the $5.4 level. The daily chart producing candles with short bodies and long wicks indicates trader uncertainty and no clear dominance of buyers or sellers on this asset.

At the time of going to press, the Price of the polygon is trading at $0.569 and has a market cap of $5.61 billion. If the market recovery lasts, this altcoin could break the aerial trend line that carries the current corrective trend.

The potential breakout will accelerate the bullish momentum, taking the price to $0.76, followed by $1.08.

Key takeaway

After a sharp correction in June, the cryptocurrency market has shown signs of a decline among major altcoins, with Bitcoin’s price rebounding from $60,000. This recovery has renewed investor sentiment, presenting an opportune time to buy altcoins, which are poised to reach a market cap of $10 billion.

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Frequently Asked Questions (FAQ)

A decentralized oracle network is a technology that securely and reliably connects blockchain smart contracts with external data sources.

The falling wedge pattern is a technical analysis formation characterized by converging trend lines that enclose a price that has moved downwards. This pattern is generally identified as a bullish indicator

The 100-week exponential moving average (100W EMA) is a technical indicator used to analyze long-term price trends of a stock or cryptocurrency.

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