Potential Altcoin Opportunities During Market Correction
Cryptocurrency analyst Miles Deutscher offers insights into potential altcoin opportunities as the crypto market experiences a sharp correction. He highlights several altcoins that could see significant upside movement.
BTC, AVAX, And INJ Stand Out Amid Market Correction
Deutscher mentions Bitcoin (BTC) as it retests the break of an ascending channel on the daily chart. He sees the recent market correction as necessary to flush out over-leveraged positions and compares it to previous bull market environments.
Deutscher also points out Avalanche (AVAX) as one of the clear altcoin leaders. Despite the market downturn, AVAX quickly recovered and is expected to continue its upward trend. He also praises Injective Protocol (INJ) for its performance and suggests accumulating during major pullbacks.
Celestia (TIA) and Immutable X (IMX)
Deutscher notes Celestia (TIA)’s resilience during the recent market correction and highlights potential insider interest due to upcoming project launches. He also mentions Immutable X (IMX) as a leading altcoin in the gaming sector with strong fundamentals and a growing number of games launching on its platform.
PrimeDAO (PRIME) and Undervalued Altcoins
Deutscher identifies PrimeDAO (PRIME) as a top gaming pick, with growing popularity for its game Parallel and an upcoming Coinbase listing. He believes PRIME is currently in price discovery mode. Deutscher also mentions Sei Network (SEI) and Sui (SUI) as altcoins with potential for price appreciation.
Near Protocol (NEAR) and Arbitrum (ARB)
Deutscher suggests that Near Protocol (NEAR) could have a breakout moment, noting the lack of significant resistance on the way to $5. He also discusses Arbitrum (ARB) as a potential rotation play, with the launch of a meme coin and the upcoming Coinbase Futures listing attracting liquidity.
Within the Solana ecosystem, Deutscher highlights recent airdrops of Pyth Network (PYTH), Juggernaut (JTO), and Jupiter (JUP). He mentions the buzz around airdrop farming and suggests opportunities may still exist. Deutscher concludes by mentioning Frax Share (FXS), which he believes is undervalued and hints at the possibility of a future airdrop.
Hot Take: Potential Upside for Altcoins Amid Market Correction
Cryptocurrency analyst Miles Deutscher provides insights into altcoin opportunities during the current market correction. He highlights altcoins such as AVAX, INJ, TIA, IMX, PRIME, SEI, SUI, NEAR, ARB, and FXS as potential candidates for significant upside movement. Deutscher emphasizes the importance of market corrections in flushing out over-leveraged positions and compares the current price action to previous bull market environments. With various altcoins showing resilience and strong fundamentals, there are still opportunities to be found in the crypto market.
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