Altcoins
Top Altcoins to Watch, Accumulate, and Profit From in July
Analyst Miles Deutscher addressed his latest analysis and opened up on the top five altcoins that are accumulating this July, despite the traditionally slow summer months and recent price volatility. He believes the market is providing better prices and a cooling period, allowing for targeted research and accumulation. Despite recent market pullbacks, he sees signs of recovery, especially in altcoins.
Coin 1: Thor’s Chain
The analyst said that Thorchain has a unique dynamic due to its nature as a “reflexive asset.” In a bull market, Thorchain’s mechanics can drive significant price appreciation. RUNE is hovering around $3, a high timeframe support level on the weekly chart. While RUNE could continue to bleed if the overall market remains bearish, it has the potential to outperform in the next bull market.
Coin 2: Layer Zero
Many front-loaded altcoins have suffered in bear markets, leading to significant undervaluation. He said coins like Layer Zero, which have been beaten but are fundamentally sound, can experience strong upward price movements when market conditions improve. Without short-term breakouts, it avoids price suppression caused by excess supply entering the market.
Coin 3: Ondo Finance
The coin has had a significant decline from its highs but shows potential, especially with the ETH ETF and the broader RWA narrative gaining traction. It highlighted important price levels for Ondo, such as $1 for long confirmation and the $0.75 midrange as a key support zone.
Coin 4: First Echelon
Finally, he mentioned Prime Echelon Prime, which belongs to the AI and gaming category, which has seen a significant retracement and is at a key support level, making it a good candidate for long-term accumulation.
Coin 5: Pepe and other meme coins
Despite the bleeding of many altcoins, major meme coins like Pepe, Whiff, Bonk, Mog, and Popcat have shown strength during the market recovery. He said that meme coins are seen as a meaningful narrative with a high market share in the cryptocurrency community. The “barbell strategy” of holding Bitcoin and major meme coins has been effective, and he added that low-cap meme coins are riskier and it is better to focus on established ones like Pepe.