Crypto analyst “@MilesDeutscher” shared a weekly series with his 539.6k followers X today about altcoins, stating that this week appears to be a massive one for crypto, with the first rate cut since 2020 taking place on Wednesday. Miles Deutscher stated that few altcoins look primed to take off if the market responds positively.
AAVE Leads DeFi Resurgence
The analyst stated that Defi has experienced a resurgence over the past month, with AAVE leading the charge with a +25% increase. However, if DeFi continues to gain traction, AAVE could maintain its upward momentum, making it a key token to watch in the coming days.
Image Source: X/MilesDeustcher
Moreover, Deutscher emphasized that AAVE’s performance aligns with broader DeFi trends, potentially positioning it for further growth as market conditions evolve. Investors will be closely monitoring how this altcoin responds to the market environment shaped by the upcoming rate cut.
Solana DeFi Plays: $JUP and $JTO
Solana-based DeFi tokens Jupiter ($JUP) and Jet Protocol ($JTO) are also on Deutscher’s radar. Both tokens are currently bouncing from the bottom of their trading ranges, offering potential opportunities for traders looking to capitalize on Solana’s recent DeFi surge.
These assets combine the strength of both Solana’s ecosystem and the growing DeFi narrative, adding to their appeal for investors seeking altcoin exposure.
2. $JTO & $JUPThese are 2 Solana DeFi plays which are both bouncing from the bottom of their ranges.Covers both the Solana + DeFi narrative.These charts were posted by one of our analysts @docXBT in @mileshighclub_ (my private community for exclusive crypto alpha). pic.twitter.com/tW4V2HhtL8
— Miles Deutscher (@milesdeutscher) September 16, 2024
According to Deutscher’s private crypto community, these tokens are positioned for potential upside as they recover from lower levels. The timing of the rate cut could provide the necessary catalyst for further gains.
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Show more +Show less – SUI and ZRO Show Promise in the Layer 1 and Interoperability Sectors
SUI, a prominent Layer 1 blockchain token, has been dominating market attention, with strong potential for a price rise. Deutscher suggests that a retest of the $1 level could provide an opportunity for continuation into the $1.40 region, adding that SUI remains a strong contender for both short- and mid-term gains.
Image Source: X/MilesDeutscher
Similarly, ZRO, an interoperability token, is gaining traction due to its relative market strength and lack of unlocks until 2025. A breakout above the $4 mark could signal further upward movement for this asset, reinforcing its position as one of the top coins to watch.
Image Source: X/MilesDeutscher
Read Also: Can AAVE Price Break Through $146 Resistance? Analyst Predicts Key Levels to Watch
FOXY: A Meme Coin with Potential Upside
Deutscher highlighted FOXY as a meme coin showing signs of recovery. Although it may progress more slowly than other tokens, its reaction from lows suggests room for growth. As the crypto community awaits the Linea airdrop, FOXY could accelerate and offer potential rewards for investors looking to ride the next wave of meme coin activity.
Image Source: X/MilesDeutscher
Finally, Deutscher also mentions that last week’s top performers, including $FTM and $OM, could continue to see gains, provided investors manage their risk accordingly.
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The post Top 5 Altcoins ‘Primed’ To Take Off As The Crypto Market Prepares For The First Rate Cut in 4 Years – $AAVE, $JUP, $SUI, And… appeared first on CaptainAltcoin.
