Altcoins
Accumulate these altcoins now for maximum gains
The altcoin market is currently in a downtrend, but there could be a recovery soon. Analyst Crypto Jack said that a recent Ethereum chart resembled the setup before the 2020 altcoin bull run. Back then, after breaking resistance, Ethereum experienced sideways action before a significant rally. He is hoping for a similar scenario this time around, not only for Ethereum but also for altcoins and meme coins.
The market cap for meme coins is recovering after a recent dip and trading volumes are increasing. Coins like Doge and Pepe have increased exponentially. He is keeping an eye on Ethereum and these altcoins:
Coin 1: Myro
According to him, this meme coin is still in a favorable accumulation zone, and although it is currently down, this represents a great buying opportunity. From its current level, Myro could see a 225% increase if it returns to its all-time highs.
Coin 2: Optimism
This altcoin has bounced well from its recent lows and is aiming for a price target of around $2.40. Be wary of a potential short-term decline following the launch of the Ethereum ETF, but he believes OP will recover and push higher in the long-term.
Coin 3: Solana
The analyst said that Solana is another strong performer. It has broken its triangle formation and is heading towards a $200 target. After a potential retest at around $160, Solana could be a fantastic buy and long-term hold.
Coin 4: Arbitrum
After an impressive 200% gain last year, it is back to around $0.80. Despite a recent dip, Arbitrum could see a rebound if it follows the same pattern as before.
The analyst also spoke about the price of Bitcoin and said that he currently sees Bitcoin inside a symmetrical triangle formation. After a recent dip to $53,500, Bitcoin has bounced back and reached a recent high of $68,500 on the 4-hour chart. Eyes are set on the $70,000-$70,500 mark in the coming days.