Let’s look at the best performing altcoins year to date since the March highs to see what we can learn. Only about 8% of altcoins have shown positive performance so far in Q2.
Top Performing Altcoins
Here is a list of the 30 best performing assets in the second quarter:
Let’s dig a little deeper.
Divided into these categories:
1/ Low volatility assets
Assets like TRX, XRP, XMR, and PAXG either have very large market caps or very low volatility (or both). These assets tend to outperform in bear markets and underperform in bull markets. BTC, ETH, and BNB also fall into this category.
2/ Low profile projects
There are projects that may be performing well, but few people are talking about them. They are not part of the attention economy. Maybe whales are manipulating prices, maybe DWF is making markets, or maybe the reasons for their outperformance are simply being ignored. Examples include projects like PEOPLE, BNX, and NEXO.
3/ CEX Project
We see a lot of CEX tokens in the list. Such as BGB, BNB, LEO, MX and KCS. The best time to invest is the first quarter.
4 / A True Top Performer
What remains are these projects. These projects have high visibility, are relevant to the narrative, generally have good fundamentals. And it is easier to understand and rationalize their outperformance.
There are 11 on the list that meet these criteria:
$BRETT $JASMY $TON $PEPE $ONDO $KAS $ENS $OM $MOG $PENDLE $GNOThe strong performance of these 11 altcoins under such market conditions gives me strong confidence that they will most likely perform well in the coming months when market conditions improve.
$TON
Toncoin (TON) has an annual increase of 207%. Price corrections after high increases are common, and its long-term value deserves more attention.
TON is in an ascending triangle, which means that the price is about to see a good bullish move
The meme sector is still the fastest rebound
Especially $PEPE has risen nearly 15% from its low point.
PEPE is now blocked in the descending channel in 4 hours. It can only continue to rise after breaking through the 12 position. Those who bought yesterday can continue to wait for PEPE to reach a higher position.
You don’t need to be too ambitious when buying the meme sector at the bottom. You still need to stop profit.
OK
Coins that have been running recently: Coins that have been running well are now making lower highs on the macro charts and are now declining.
Coins that Stay Strong: Coins that don’t have a significant run stay strong during their accumulation phase.
After around June 15-21 (highest on June 14-22), can it move upward along the short-term rising channel?
If it fails to rise above 1.3627, we need to see how it moves after passing through the trend reversal channel. Be cautious when trading, because the trend reversal channel can fluctuate greatly. If it falls below the Fibonacci ratio of 0.5 (1.1109) ~ 0.618 (1.2093), it is expected to turn into a downward trend. At this time, we need to see if there is support around 0.9010.
Let’s take ONDO as an example.
The marked area is where you can accumulate. In a bull market, we should buy at support levels. The first one has been completed.
$WHAT
Now when you look at this chart you can see that the price is at resistance after the double top
The status of these days is as follows:
Although the top formation is almost the same, near $0.18, the previous build was different.
The previous increase was very rapid, with an increase of more than 80% in a week. Such price surges always require liquidation.
Sideways consolidation, and then a rapid outbreak, more stable
Despite the market instability, $KAS remains well above support compared to other projects that have lost over 30% in value since the drop.
$KAS has huge financial support and strong technology.
ETH Test Token
The Ethereum Naming Service is a distributed, open and scalable naming system based on the Ethereum blockchain.
$ENS was one of the strongest performers during the $ETH surge. It performed significantly better than the $LDO that I bought previously.
I think there are few situations where ETH beta makes sense as we try to get ahead of the legitimate argument of traditional finance investing in Ethereum via middleware.
ENS recently proposed its own L2 network for the ENSv2 upgrade.
The market was severely bearish due to outflows from BTC ETFs, but despite this, ENS managed to survive the difficulties.
Earlier this month, ENS approached the $30 price mark, a high for 2024.
It has been consolidating below this level of about $30 for the past 2.5 years. I suspect that once it breaks out of this area, it will quickly move higher.
$ENS does want to break above weekly resistance. A 2.5 year range is forming.
If the news of the start of ETH spot ETF trading gets hyped again, we could see a breakout above $30 and even higher.
The moving averages and oscillators are giving neutral signals on the daily timeframe, but on the weekly timeframe, both are giving strong buy signals.
$OM
$OM is used for:
- Ensure network security (validators and delegators can participate in staking and receive rewards)
- Pay transaction fees
- Governance
With the technology, partners and supporters behind it, Mantra/$OM is well-positioned to succeed in the RWA space.
It is breaking out and looks very good right now. It is one of the top RWA projects with great potential.
Should go to $1.50. Given the overall growth potential of the RWA industry, I would add to $OM on dips
$PENDLE
$PENDLE This is one of the strongest currencies in this bull run so far, and has almost only risen
Suitable for RWA, LSD, DeFi and LRT (hot narratives in this bull run so far)
PENDLE currently only has about $850 million in MC.
The symmetrical triangle formed on the daily chart is expected to see a massive bullish wave if successfully broken out of
Buy at the current price and buy more if it falls
Cut your stop loss by nearly half and increase your returns by 2 times
In addition, there are all kinds of narratives in the list. Memes, L1, RWA, Game-fi, etc. Good for diversity. But learn to pick and choose and find what you like.
Note that these have important common patterns:
1/ Most not listed in 2024 -> no massive VC unlock or high inflation
2/ No high FDV low float problem
3/ Most have strong communities and CT mindshare
4/ Almost all have good on-chain growth metrics (revenue, new users, transactions, etc.)
