2023-12-5 21:30 |
Crypto analyst Miles Deutscher has shared his insights on potential altcoin movements in his latest Weekly Token + Narrative Watchlist. As Bitcoin experiences a bullish run, Deutscher suggests that several altcoins are poised for continuation, contingent upon favorable market conditions.
Altcoins on RadarDeutscher notes that many setups from the previous week’s watchlist have played out as anticipated. Here are the altcoins he is closely monitoring this week:
DOGE – Dogecoin Key Actions: Breaking above a crucial horizontal level at $0.087 and surpassing the recent lower high to reverse the trend. Catalysts: DOGE’s upcoming 10-year anniversary on December 8th, the DOGE-1 mission to the moon in January, and increased mentions on the Tesla Cybertruck checkout page. Projection: If market conditions persist, Deutscher anticipates a potential move to the next major level at $0.11. PYTH – PYTH Network Position: Near or at some exchange contract lows. Risk/Reward Analysis: Deutscher emphasizes the critical importance of monitoring PYTH’s reaction to its current level, citing favorable risk/reward levels for potential upside. Observation: PYTH follows the typical new coin exchange listing formula: “pump, dump, consolidate, rip to new highs.” SOL + TIA ‘Solestia’ – Solana Strategy: Deutscher views this as a “buy the dip” play, particularly eyeing deep dips that may occur due to leveraged positions. Narrative Strength: Solana, a top performer of the year, coupled with Celestia being hailed as the “next Solana,” adds to the positive narrative. Objective: Deutscher expresses interest in entering on a significant dip and anticipates continuation. MATIC – Polygon Upcoming Event: The Polygon Connect event starts on December 7th, and Deutscher sees potential volatility heading into conferences. Interest: Deutscher notes Polygon’s teasing of announcements, expressing interest in a potential short hedge in the coming weeks. Gaming Coins Anticipation: With Rockstar Games set to release a GTA 6 trailer, Deutscher suggests that any hint of in-game currencies or blockchain-related announcements could impact Game-fi tokens. ACH + Other Chinese Coins Observation: Noting an aggressive movement in CFX, Deutscher speculates on potential triggers such as upcoming announcements or the beginning of another Chinese-related token run. Consideration: If the China season restarts, Deutscher sees an opportunity for coins like ACH, which has yet to experience significant movement. LUNC + LUNA Note: Deutscher acknowledges the lack of value in these tokens but emphasizes their continuous pumping. Caution: While dangerously short in the current market, he keeps them on his watchlist in case Bitcoin fails to break $42k, leading to potential drastic reversals.Read also:
Kaspa Set to Explode, Analyst Says KAS Showing Strength at This Point is an Indication of Strong Momentum Cardano Sees Surge in ADA Transactions Over $100,000: Analyst Says This Surge Could Be a Precursor to a Noteworthy Phenomenon Investors Hurry to Hoard Bitcoin Minetrix As Market Perks Up – Can $BTCMTX Realize the 10X Predictions?Deutscher invites the crypto community to share their insights on altcoins they’re monitoring in the comments. The dynamic crypto market continues to offer opportunities, and analysts like Miles Deutscher play a crucial role in guiding investors through potential market movements.
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The post Analyst Unveils Weekly Crypto Watchlist As Bitcoin Surges: SOL, MATIC, and LUNC Take Center Stage appeared first on CaptainAltcoin.
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