- CryptoBullet predicts that current market trends will push NEAR, AR, METIS, and AVAX to new all-time highs by 2024.
- Increased altcoin trading volume indicates growing investor interest, and technical analysis supports a positive outlook.
As the virtual currency market continues to trend upward, led by Bitcoin, [BTC] With strong performance in recent weeks, the global cryptocurrency market has reached a market capitalization of approximately $2.5 trillion.
As a result, altcoins such as Near Protocol [NEAR] and polka dots [DOT] It shows a strong upward trend. This bullish wave is sparking optimism among investors and analysts alike.
Amid this positive momentum, renowned crypto analyst CryptoBullet predicted Four altcoins are expected to reach all-time highs (ATH) by 2024.
According to CryptoBullet, this period presents a great opportunity for investors to get into certain altcoins that are currently undervalued but are poised for significant growth.
CryptoBullet’s strategy involves leveraging the current low prices of these altcoins to take advantage of explosive profits in the upcoming bull market.
The key to pinpointing these promising investments lies in their performance against Fibonacci retracement levels.
CryptoBullet identifies altcoins that test or exceed the 0.618 or 0.786 Fibonacci levels as prime candidates to break the ATH.
Source: CryptoBullet/X
On the other hand, analysts revealed the altcoins that are likely to fail, pointing out that:
“Anything still between 0.382 and 0.236 will not exceed the 2021 high (weak coin). Example: $DOT $AXS $FIL $ADA.”
At the time of writing, DOT was the most appreciated of these altcoins, with ADA in second place.
Notably, DOT and ADA have increased by 3.9% and 5%, respectively, over the past day, while FIL and AXS have increased by 0.8% and 0.4% over the same period.
NEAR, AR, METIS, AVAX are rapidly increasing
CryptoBullet especially emphasizes the area around Arweave [AR]Metis Dao [METIS]Avalanche [AVAX] As an altcoin that has the potential to set new records.
Over the past few weeks, these altcoins have shown a bullish trend, with METIS experiencing a slight decline.
However, despite falling 0.9% over the past week, METIS has rebounded and is currently trading at $60.59, up 2.9% over the past 24 hours.
This slight decline is seen as a temporary correction before a potential uptrend.
On the other hand, NEAR and AR have shown more significant upward momentum. NEAR has increased 13.4% over the past week and 36.4% over the past two weeks.
Similarly, AR increased by 10.5% in the last week and more than 40% in the past two weeks.
Over the past 24 hours, NEAR and AR have increased by 3.6% and 10.1%, respectively, and are currently trading at $8.38 and $48.54, respectively, indicating continued bullishness.
Avalanche (AVAX) is also showing positive trends, with its current trading price at $37.09, up 7% over the past day.
On the other hand, the superiority of altcoins other than the top 10 is was standing At the time of writing, it was 11.91%. Technical analysis of the entire altcoin market shows a very interesting pattern.
Realistic or not, the market cap of AVAX in BTC terms is as follows
The market has recently seen a bullish engulfing candlestick appear following a bullish Tombo candlestick, which closes above the Tombo candlestick. This pattern suggests further upside potential.
Source: Tradingview
Additionally, AMBCrypto reports that altcoin trading volume dominance has reached a two-year high of 78%. Growing investor interest in altcoins.
