Altcoins
List of Market-Leading Altcoins by Favorable Returns
Second analyst Nicholas Merten, Altcoins are becoming interesting again. He also explained how to spot the market-leading altcoins. The analyst said that momentum is starting to build, making it a good time to consider altcoins. The current market range is more favorable than in April or May, when profits were taken.
Despite recent gains, the altcoin market still has room to grow. Altcoins have not yet significantly outperformed Bitcoin, so staying in Bitcoin temporarily it is fine. However, creating positions in altcoins can be considered if they are doing well compared to Bitcoin.
Altcoins Worth Watching
It has brought attention to some altcoins such as Fetch.ai (FET), Render (RNDR), and Stacks (STX). Fetch is holding steady against Bitcoin, which is a positive sign. Render is slightly up, but its momentum has not fully returned yet. Stacks has shown some rallies and sell-offs and is worth keeping an eye on due to its long-term moving averages.
The analyst explained that successful altcoins like Stacks have seen a rebound of about 44% in the last week, showing solid performance. Meme coins like MCoin have also performed well, setting new highs even during market downturns.
Merten advised looking for altcoins that are resilient during downturns, not just those that are down 90% or more. The key is to find altcoins that are holding up well and showing strong market leadership.
He stressed that even though some altcoins have gained 30-70%, it does not mean that they have recovered all their previous losses. It is crucial to protect against losses and find strong momentum plays. Merten advised to watch for coins that are holding their position above key moving averages such as the 9-day, 21-day, and 50-day EMAs.
Conclusion:
In today’s market, politics based meme coins like Trump and Maga are gaining traction. However, it is important to wait for further price action to identify the true market leaders. Overall, Merten suggests focusing on altcoins that show solid price performance, potential market cap expansion, and maintain momentum to deliver substantial returns.