According to BlockBeats, on July 23, DAG payment network COTI will participate in the Central Bank Digital Currency (CBDC) project initiated by Israel's central bank. This project will also see the involvement of major companies such as PayPal and Fireblocks. The collaboration aims to explore and develop the potential of digital currencies within the financial ecosystem.

The post Top Altcoins Poised for Explosive Growth This Week appeared first on Coinpedia Fintech News

Analyst Sheldon has opened up about the current market trends, explaining the importance of altcoins amidst recent developments. Despite some setbacks, Sheldon remains optimistic about the potential for altcoins to surge in the near future. He said that timing is everything, and right now, altcoins are poised for a major breakout. Despite experiencing a downward trend recently, the analyst said that the pump hasn’t even begun.

Altcoin Market Cap: From $660 Billion to $1 Trillion?

Looking ahead, Sheldon outlines potential targets for altcoin growth, projecting a significant increase in market capitalization. His target is to see the altcoin market cap rise from $660 billion to $930 billion in the short to mid-term. “And if we go full bull, we could even hit the trillion-dollar mark again,” he says. 

Technical Analysis Tips

Sheldon also stresses the importance of monitoring key trend lines for altcoins, highlighting their role as indicators of market sentiment. As long as we hold the bullish trend line on altcoins, we’re in a full alt season, Sheldon advises. Breaking the trend sets new levels for price increase, which can act as resistance points. Moving from one high to the next, he illustrated how acceleration occurs, propelling prices rapidly upward.

Altcoins Predictions

Highlighting the importance of strategic trading, he pointed out the strength of coins like Thor Chain and encouraged waiting for clear trend breaks before making significant trades. Using examples, he showed this pattern, pointing how breaking one high leads to acceleration towards the next. Even with minor pullbacks, he expressed confidence in Rune’s potential for further gains. With a target price set at $7, he outlined the substantial profit potential relative to the initial investment.

Expressing enthusiasm, he spoke about the importance of not missing major trend breaks like the one observed with Injective. With key trends in sight, he discussed potential profit margins, noting the $40 mark as a significant milestone and projecting a potential rise to $70 based on higher time frames. 

Another one that’s still looking good is Coti. A bullish pattern, resembling a wedge, is taking shape. Once it breaks out of this pattern, that’s the signal to enter the market. The critical level to watch is the range between $0.12 to $0.13 cents.