Five Days Until Uptober: Stack These Altcoins Now
Anjali Belgaumkar26 Sept 20242 min read
In the current market, both Bitcoin and altcoins are showing promising signs of a potential breakout in Q4. As Bitcoin hovers near a crucial level, altcoins are also poised to make significant moves, with many starting to break out of long downtrends. Analyst Miles Deutscher took to his latest analysis and shared multiple altcoins to keep an eye on.
AI Altcoins:
The analyst points out that AI altcoins have been top performers recently. The resurgence in AI price action suggests that if the market breaks out, AI coins could continue to outperform. Here are top AI coins:
NEAR Protocol: Breaking out of a downtrend, the analyst believes this coin could follow in TAO’s footsteps. If it breaks above $6, it could return to its all-time high.
Fetch.ai (FET): Rebranded as ASI, this token is becoming a proxy for several related projects. It’s nearing resistance at $1.80, and waiting for a confirmed breakout is recommended.
Prime (PRIME): Currently breaking resistance, it’s been a successful trade. More positions may be taken as it continues to perform well.
DePIN Altcoins:
Miles sees long-term potential in DePIN, ranking it as one of the top two narratives, alongside Real World Assets (RWA). Here are his top picks:
AIA: The analyst believes it’s following a predicted pattern and is looking for a breakout to target a 26% rise.
World Mobile Token (WMT): Down 50% from its highs but showing strong potential for future growth. The analyst sees it as a possible top-100 or top-50 protocol and is adding exposure to it.
L1 (Layer One) Altcoins:
The analyst said that L1 (Layer 1) narratives haven’t faded and have performed decently, closely following the trend of meme coins. Although L2s (Layer 2s) have underperformed, there is still interest in L1s, especially with Solana being a standout performer. Here are his top picks:
Solana (SOL): Strong performer, holding long-term, but waiting for a deeper pullback for better returns.
Fantom (FTM): Recently broke a major resistance zone at $0.58, targeting $1 as the next major level.
Sui (SUI): Although performing well on a macro level, the chart looks slightly overextended for immediate buys. Better to wait for major dips.
