Altcoin Market Analysis: Identifying High-Potential Coins Versus Underperformers
The post Altcoin Market Analysis: Identifying High-Potential Coins Versus Underperformers appeared first on Coinpedia Fintech News
Cryptocurrency expert Kevin Cage recently explored the world of altcoins following a big crypto update. He shed light on some altcoins that are doing well and others that might be falling behind. Cage stressed how the crypto market tends to go through cycles, with periods of big price surges followed by downturns.
He suggested a smart strategy for investors: during downturns, buying and accumulating assets w/hile waiting for the next big price surge is a good idea. Cage spoke from his experience, explaining the need for patience and spreading investments across different assets to manage risk.
Standout Altcoins and Investment Strategies
Cage discussed a few standout altcoins. Fetch.AI and Injective Protocol were highlighted for reaching or nearing their all-time highest prices, indicating strong performance compared to past cycles. He also mentioned other altcoins like Stacks (STX), Render (RNDR), Chainlink (LINK), Ocean Protocol (OCEAN), and Harmony (ONE) for their price movements and technical signals.
Examining charts of different altcoins, he identifies leaders and laggards based on their price movements and technical indicators. He emphasizes the role of tokenomics, market sentiment, and fundamental analysis in evaluating investment opportunities. Additionally, he discusses the significance of moving averages and Fibonacci retracement levels in identifying potential entry and exit points.
While some altcoins have reached new all-time highs or are approaching them, others are still in accumulation phases, presenting opportunities for future growth.
He said, “And of course, I believe in these cycles, looking at the higher time frames like the monthly and the weekly, I think it shows a clear story in an uptrend. So because of this and after experiencing more than one bull run, I know that patience is key. And even during 2019-2020, all alts retraced in different orders. Some actually created new all-time highs before Bitcoin even did, and then others didn’t actually explode until Bitcoin was already pushing into a new high about three to five weeks later.”
Read More
Altcoin Market Analysis: Identifying High-Potential Coins Versus Underperformers
The post Altcoin Market Analysis: Identifying High-Potential Coins Versus Underperformers appeared first on Coinpedia Fintech News
Cryptocurrency expert Kevin Cage recently explored the world of altcoins following a big crypto update. He shed light on some altcoins that are doing well and others that might be falling behind. Cage stressed how the crypto market tends to go through cycles, with periods of big price surges followed by downturns.
He suggested a smart strategy for investors: during downturns, buying and accumulating assets w/hile waiting for the next big price surge is a good idea. Cage spoke from his experience, explaining the need for patience and spreading investments across different assets to manage risk.
Standout Altcoins and Investment Strategies
Cage discussed a few standout altcoins. Fetch.AI and Injective Protocol were highlighted for reaching or nearing their all-time highest prices, indicating strong performance compared to past cycles. He also mentioned other altcoins like Stacks (STX), Render (RNDR), Chainlink (LINK), Ocean Protocol (OCEAN), and Harmony (ONE) for their price movements and technical signals.
Examining charts of different altcoins, he identifies leaders and laggards based on their price movements and technical indicators. He emphasizes the role of tokenomics, market sentiment, and fundamental analysis in evaluating investment opportunities. Additionally, he discusses the significance of moving averages and Fibonacci retracement levels in identifying potential entry and exit points.
While some altcoins have reached new all-time highs or are approaching them, others are still in accumulation phases, presenting opportunities for future growth.
He said, “And of course, I believe in these cycles, looking at the higher time frames like the monthly and the weekly, I think it shows a clear story in an uptrend. So because of this and after experiencing more than one bull run, I know that patience is key. And even during 2019-2020, all alts retraced in different orders. Some actually created new all-time highs before Bitcoin even did, and then others didn’t actually explode until Bitcoin was already pushing into a new high about three to five weeks later.”
Read More