Altcoins to Watch: Potential Wealth-Builders for July 2024
Anjali Belgaumkar3 Jul 20242 min read
According to analyst Miles Deutscher, July is crucial for positioning in the market, with opportunities extending into August and September. Despite sideways market movements, significant opportunities exist, which can be seized, according to him. He plans to concentrate on altcoins with short to medium-term catalysts, strong narratives, and attractive price levels. Here’s the list: Ethereum He …
According to analyst Miles Deutscher, July is crucial for positioning in the market, with opportunities extending into August and September. Despite sideways market movements, significant opportunities exist, which can be seized, according to him. He plans to concentrate on altcoins with short to medium-term catalysts, strong narratives, and attractive price levels. Here’s the list:
Ethereum
He likes Ethereum for its liquidity and lower volatility, making it a safer choice for those using leverage. He noted the clear uptrend and expected attention from the upcoming Ethereum ETF listing.
Pendle
The second altcoin he mentioned was Pendle, which he recently traded around $4. Despite significant price drops due to TVL reductions and short squeezes, he believes Pendle is a strong project with significant potential in decentralized finance and real-world assets.
Ondo
Another altcoin he watches is Ondo, particularly for short-term trading opportunities. He’s interested in maintaining the uptrend and sees potential for longs with tight invalidation. If Ondo approaches $1, it becomes an attractive level for entry, providing clear invalidation and major support.
Pepe
It’s currently in a significant downward regression channel and is flirting with the support level. He sees potential in this, at least a 5x return.
Solana
Solana’s transaction fees are performing well, bolstered by the launch of celebrity meme coins on its platform. Currently, Solana is crossing the mid-range, with strong buy zones identified around $126.
Everclear
Everclear is emerging as a significant player in chain abstraction, addressing liquidity fragmentation in DeFi. With a current market cap of $26 million and backing from major investors, Everclear represents a long-term strategic play.
Lingo
Lingo, a new gamified rewards platform, is set for launch soon. It offers real-world rewards backed by real estate holdings. The pre-sale phase is active, with options to buy in pre-sale or post-launch based on market conditions.
Additional Coins:
In the AI sector, Prime and Bittensor are drawing attention. Prime, despite recent FUD, presents potential entry points around $7, with expansion targets at $11. Bittensor, a leading AI coin, is being monitored at the $200 level, offering significant upside potential.
Also Read: Top 5 Low-cap Layer 1 Altcoins To Focus on in 2024
