Crypto Analyst Reveals 10 Top Altcoins To Watch This Week
November 14 2023 - 10:00PM
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The altcoins market has recently witnessed a resurgence of interest
and confidence, primarily driven by the largest cryptocurrency,
Bitcoin (BTC). This renewed enthusiasm has resulted in a bull
uptrend, with most of the top 100 cryptocurrencies benefiting from
Bitcoin’s resurgence. However, the market is currently
experiencing a correction as Bitcoin and Ethereum (ETH) face
pullbacks after failed attempts to breach upper resistance lines.
Despite this correction, crypto analyst Miles Deutscher shares
insights and highlights several altcoins with potentially
significant gains. SOL Emerges As Safe Haven In Crypto Market
Correction Solana has exhibited remarkable growth, even as the
broader market experiences a correction. With a 0.5% gain in the
past 24 hours, SOL’s potential for further upside cannot be
ignored. Deutscher suggests that SOL may continue to benefit
from the ongoing rotation of investments from other Layer-1
solutions like Avalanche (AVAX) and Fantom (FTM). Thorchain (RUNE)
has been on an impressive upward trajectory, prompting investors to
consider buying on deep corrections and wicks. The primary
decentralized exchange (DEX) on Thorchain, THOR, has also shown
positive movement, further bolstering the growth potential. Polygon
(MATIC) has recently shown signs of strength and has generated
whispers within the crypto community about a potential
zero-knowledge (ZK) narrative. If this narrative materializes,
MATIC, a leader in the space, could attract significant positive
flows. Related Reading: Cardano: Midnight Devnet Goes Live –
Trigger For New ADA Rally? Within the ZK narrative, altcoins like
Dusk Network (DUSK), Loopring (LRC), and Mina Protocol (MINA) are
poised to benefit. Deutscher believes that each altcoin offers
unique strengths and value propositions, and their performance will
depend on the strength of the emerging ZK narrative. Soteria (SEI)
has gained attention as it enters the top 10 for volume traded by
pairs on Upbit. Considered a “new coin,” SEI exhibits fundamentals
similar to the next altcoin on the watchlist. Tidal Finance (TIA)
is a relatively new token similar to the early days of Aptos (APT).
The market tends to favor new and innovative tokens, and although
TIA’s rally may have started to cool off, it still holds explosive
potential. With a current market capitalization of $700 million,
TIA remains an intriguing opportunity for investors. DEX And Gaming
Altcoins Poised To Thrive In addition to altcoins, perp
decentralized exchange (DEX) tokens like GMX, DYDX, and Gnosis
(GNS) are positioned to benefit from market volatility. According
to Deutscher, these tokens have shown a correlation between price
movements and fundamental factors. If volatility persists, these
tokens could present favorable medium-term investment
opportunities. Yield Guild Games (YGG) and Gamestarter (GMT),
gaming tokens with initial upward movements, are expected to
continue outperforming the broader market. These gaming tokens
could witness sustained growth with the YGG conference scheduled
for November 18. Related Reading: Crypto.com Acquires License In
Dubai As Cronos (CRO) Price Slips While the current correction in
the cryptocurrency market has led to pullbacks in Bitcoin and
Ethereum, the altcoin landscape still offers potential
opportunities for investors. Solana’s continued uptrend,
along with the prospects of altcoins like Thorchain, Polygon, and
those associated with the ZK narrative, suggest possible avenues
for growth. Additionally, emerging tokens like Soteria and
Tidal Finance, perp DEX tokens, and gaming tokens may also provide
favorable investment prospects. (This site’s content should
not be construed as investment advice. Investing involves risk.
When you invest, your capital is subject to risk). Featured image
from Shutterstock, chart from TradingView.com
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