The current accumulation pattern of altcoins suggests that the magnitude of this market upswing will be considerable, although it may not necessarily break historical record highs.
It is noteworthy that the process of capital accumulation has significantly lengthened; previously, it could be completed in about a month, but now it generally takes two to three months. Even more striking is that this market cycle has experienced a period of extreme volatility, with the price fluctuations over the past year being quite dramatic.
For those altcoins that dominate their respective sectors, it is advisable to decisively increase positions when prices drop, while keeping the leverage ratio below three to control risk. From the weekly chart, many coins are already at low price levels. The prosperous season for altcoins usually sees a fierce rebound towards the end of an upward trend, potentially achieving several times their value in just a month, similar to the alternating rises of coins like Ape and dYdX.
If your investment target has not yet seen an increase, please remain patient and continue to hold, as every coin has the potential to welcome its own upward moment eventually. As for those coins related to inscriptions and the Telegram ecosystem, despite the current situation seeming grim, investors who can persist are the warriors who stand out from numerous difficulties.
Buying these cryptocurrencies in 2024 could yield 100 times returns!
1.UNI
This once leading player in the DEFI field made a generous debut since its inception, and after enduring the test of time, it has now firmly established itself at the top of the DEX space. It is undoubtedly a dominant force that is hard to rival in terms of application implementation and profitability after ETH!
As a pioneer in the decentralized exchange field, UNI has successfully navigated the ups and downs of the market, undoubtedly showcasing a leading role in the new applications of blockchain technology!
Earlier this month, UNI announced the launch of a brand new blockchain primarily for UNI's staking. This news undoubtedly adds more anticipation for UNI's future. We know that since ETH started staking mining, this model has become a template for many crypto projects. Chains without staking mechanisms seem to find it difficult to establish themselves in the market. Although UNI has been somewhat slow in staking, it is said that 'good meals are not afraid of being late.' This new chain is expected to go live by the end of the year.
As a large DAPP with a vast user base, UNI's recognition and monthly active users are naturally not in question. Once the staking function is enabled, it will undoubtedly trigger an intense buying frenzy. Therefore, it is undoubtedly a wise choice to prepare in advance before the rush begins. Looking back at UNI's last peak, it approached $45, while the current price is less than $8. It is foreseeable that breaking the last peak should be an easy task for UNI!
2.AAVE
With the former leader MKR undergoing a name change and coin swap turmoil, AAVE has gradually emerged in the lending sector, occupying a dominant position. Among the once-glorious lending trio of MKR, AAVE, and COMP, COMP has now struggled to stay in the top hundred, while AAVE has entered its most active period, even surpassing historical records.
As the cryptocurrency market expands, its technology becomes increasingly mature and reliable. On-chain lending activities and asset liquidity are becoming more frequent, which will undoubtedly further solidify AAVE's position in the industry. Currently, the main users of lending services are still large holders and institutions, and its market scale is not to be underestimated. Looking ahead, as the popularity of crypto assets continues to rise, I believe AAVE is likely to become an indispensable 'digital bank' in the crypto market. Looking back at AAVE's last peak, it reached 668, while the current price is only 154, breaking recent highs does not seem difficult!
3.DYDX
dYdX is a decentralized trading platform built on Ethereum, covering various financial services including lending, spot trading, and margin trading. Users can trade directly on this platform without the need for any intermediary, and they can also predict the future prices of cryptocurrencies.
To enhance market liquidity and ensure the security of staked tokens, dYdX has introduced liquidity and security pool mechanisms. Additionally, it has adopted the unique second-layer scaling technology of zkSTARKS, which allows transactions to be verified off-chain while still maintaining the platform's decentralized characteristics.
Currently, dYdX's price is $1.22, achieving a significant increase of 19.65% in the past 24 hours, with a market cap of $787.11 million. Over the past month, it has also seen a growth of 28.86%. Notably, the trading volume in the past 24 hours surged by 1658.44%, indicating a strong interest in the platform. dYdX's trading price is 43.58% above its 200-day simple moving average (SMA), and the relative strength index (RSI) is at a neutral level of 45.04. In the past 30 days, the token has shown an upward trend for 18 days, showcasing low volatility and strong liquidity, with a volume-to-market-cap ratio of 0.1149.
Earlier this year, dYdX partnered with Stride to launch a liquid staking service, further enriching the staking options within the Cosmos ecosystem. Additionally, the platform plans to collaborate with other providers such as Persistence and Quicksilver. These initiatives aim to fully leverage the increasingly popular trend of liquid staking, providing users with more opportunities to earn yields and further expanding its influence in the decentralized finance (DeFi) sector.
4.SOL
Recently, Solana's price has shown an upward trend, climbing nearly 8% over the past week, while the increase over the past month has exceeded 10%. However, when extending the time span to the past six months, its price volatility has been relatively stable, with a change of less than 1%.
Based on current data, Solana's upward momentum is expected to continue. The recent resistance level it faces is $162.09; if successfully surpassed, the price is expected to further rise to $179.00. On the downside, the recent support level is at $128.27; if this level is breached, the price may drop to $111.36.
From a technical indicator perspective, the simple moving average provides mixed signals. The 10-day average is about $158.93, slightly above the current price range; while the 100-day average is close to $154.65. The relative strength index (RSI) is about 54, indicating that market momentum is neutral. Additionally, the MACD indicator shows a slight positive value, suggesting that the price may rise.
If Solana can successfully break through the resistance level, its price may rise another 5% to 10%. If it falls below 158, one can start to build a position.
5.ONDO
The recent price dynamics of ONDO are significant. Over the past week, its price has increased by 9.09%, and in the past month, the increase has reached 19.12%. However, looking at a six-month span, ONDO's price has slightly declined, down by 1.25%. Currently, the trading price range for ONDO is between $0.66 and $0.78.
From a technical analysis perspective, ONDO's prospects show a degree of uncertainty. The 10-day simple moving average (SMA) is currently at $0.78, while the 100-day SMA is $0.75. The relative strength index (RSI) is at 50.08, indicating that the market is currently neutral. Additionally, the MACD indicator shows a slight negative value (-0.0005922), and the stochastic oscillator is at 32.46, suggesting that the token may be approaching the oversold area.
Looking ahead, the main resistance level for ONDO is $0.84. If this level is successfully broken, the next key resistance level will be $0.96, which has about a 23% upside potential compared to the current price. However, on the downside, the recent support level is $0.59. If this support level is breached, the price may further decline to $0.47, a drop of about 30%.
According to ONDO's recent trends, if its positive momentum can be sustained, then the token undoubtedly has growth potential.
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