Analyst Suggests Holding Some Altcoins to Ride the Bull Run and Maximize Profits – Check Out the Top Picks
In spite of positive ETF inflows, the market has experienced a recent pullback. However, historical patterns indicate a brief pullback followed by a recovery. Bitcoin is displaying signs of a bullish divergence and reduced volume, suggesting a potential breakout. The Solana ecosystem is performing well, with some tokens breaking weekly trends and exhibiting strong growth potential.
Overview of the Trading Show
On Crypto Banter’s The Sniper Trading Show, the analyst highlighted recent chart analyses that point to a bullish divergence in Bitcoin, signalling a potential bounce if specific support levels are maintained. With volume on the decline, a volume breakout seems imminent, hinting at a significant market move on the horizon. Moreover, it’s Bitcoin week, which could bring about major announcements and further market movements.
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The analyst stresses the importance of patience and diversification, recommending holding at least 30 to 50 altcoins. Ultimately, the aim is to consolidate the portfolio into major cryptocurrencies such as Solana, Ethereum, and Bitcoin. The total market cap indicates significant potential movement for altcoins. Here are several coins mentioned by the analyst:
Analyst View on Injective (INJ)
Injective (INJ): The analyst views INJ as a token that has broken previous all-time highs and is currently retesting, similar to Bitcoin’s historical performance. INJ is expected to potentially enter a significant upward trend, mirroring Bitcoin’s previous retesting and achieving new highs.
Analyst View on Solana (SOL)
Solana (SOL): The analyst highlighted a bullish cup and handle pattern on SOL and projects a long-term target of $800 to $1,000, while advising to capitalize on profits during substantial price increases.
Analyst View on XRP
XRP: The analyst believes XRP is in a substantial accumulation phase and is yet to initiate its first significant leg up. It could see considerable gains, although it is not considered as fundamentally strong as Solana or Injective.
Analyst View on DOGE
Dogecoin: The analyst mentioned that Dogecoin has broken out of its previous range. The short-term target is around $0.50, based on high time frame Fibonacci retracement. It may experience significant growth, but it’s prudent to take profits at resistance levels and leave some for potential further gains.
Ethereum and Other Altcoins
Other Altcoins: Ethereum is recommended for long-term holding, with short-term targets between $3250-$3300 and potential dips to $3100. Altcoins like AVAX, FTM, ADA, LINK, and NEAR are also in favourable zones and are likely to experience substantial increases during the bull run.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
