Expert Analysis on Altcoins by Jason Pizzino
Renowned analyst Jason Pizzino recently shared his insights on the current market conditions and the potential for significant lows in the crypto space. He highlighted the similarities with past market trends and emphasized the importance of identifying strategic entry points during these periods of increased volatility and fear. By closely examining the average true range (ATR) of various altcoins, Bitcoin, and the total cryptocurrency market cap, Jason identified key indicators that suggest a stealth period of consolidation may be underway, potentially leading to an upside breakout.
Altcoins to Watch
Fetch.ai:
– Bounced 40% from its low against USDT
– Needs to surpass $1.80, marking the 50% retracement level
AGIX:
– Needs to exceed 1,000 and 1,200 Satoshi for strength
– Holding at 63 cents against USD is crucial
Ocean Protocol:
– Targeting to stay above 63 cents to aim for 90 cents
Render:
– Showing strength above its 50% level
– Monitoring the $3 to $5 range for potential corrections
Pendle:
– Holding above 50% level despite market fear
– Needs to maintain above $5.70 to avoid a fake out
Ondo Finance:
– Above 50% level and previous resistance
– Exercise caution as it tests shorter-term levels
Hot Take: Time to Dive into Altcoins?
As the crypto market experiences increased volatility and fear, it may be the opportune time to consider strategic entry points into altcoins. With expert analysis pointing towards potential significant lows and a stealth consolidation phase, keeping a close eye on altcoins like Fetch.ai, AGIX, Ocean Protocol, Render, Pendle, and Ondo Finance could prove beneficial in the current market climate.
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