Altcoins are becoming increasingly strong in the cryptocurrency market. While Bitcoin has been losing value recently, altcoins such as XRP, ADA and ETH are making significant progress. An analyst with a large following states that some altcoins are close to making a big rise. The analyst, who named seven strong altcoins, emphasizes that three of them are very close to making significant breakouts.
Analyst Shares 5 Altcoins: NEAR's Rise is Near!$NEAR
As Bitcoin’s momentum continues to wane, investors are turning to altcoins. The popular analyst known by the pseudonym Bluntz emphasizes that altcoin/Bitcoin (BTC) pairs are giving bullish signals. In this context, the analyst makes the following comments: “The best-case scenario is that BTC moves sideways for a week and altcoins increase over the weekend. Many altcoin/BTC charts show that this is a possible scenario.” Bluntz draws attention to leading Layer-1 blockchain projects such as Ethereum (ETH), BNB Chain (BNB) and Sei (SEI) that will benefit from Bitcoin’s sideways movement. In this context, the analyst is monitoring the following altcoin projects:
“A strong weekend is expected for Tier 1 projects. SEI, NEAR, INJ, BNB, even ETH, USD and especially BTC are looking positive. NEAR/USD has already exploded, NEAR/BTC is also currently rising. It’s only a matter of time before it explodes.” Meanwhile, NEAR was trading at $7.15 at the time of writing, up 4.45% on the day and up 15.65% on the week.
Bluntz also noted that two other altcoins are also on the verge of a breakout. On the analyst’s radar are popular meme coin Dogecoin (DOGE) and decentralized exchange (DEX) Jupiter (JUP). According to Bluntz, Jupiter will see a new all-time high this cycle. The analyst comments on the altcoin as follows:
“JUP,$JUP
"Although it's up 100% from its lows, it appears to be accumulating heavily over the last six months. The real uptrend hasn't started yet. I'm confident it will reach new all-time highs before this cycle is complete. Many Solana-based coins are performing similarly."
Meanwhile, JUP was trading at $1.18, up 2.95% at the time of writing and had gained 4.15% on the week. However, the token is still around 42% away from its all-time high of $2.04.