Check out the following roster of leading altcoins set to spearhead the forthcoming Recovery Rally

Renowned analyst Jason Pizzino has recently conducted a comprehensive analysis and recommended delving deeper into some altcoins. In recent days, there have been indications of a significant low or its imminent arrival. It is worth noting that similar discussions about significant lows occurred in June 2022. Interestingly, two years later, we are experiencing another period of heightened volatility and fear, coinciding with a major date around the solstice.

Jason referred to the collapse in May and June of 2022, which saw the downfall of DeFi projects like Luna in May, followed by further collapses in June that affected companies like BlockFi. Despite the market dipping even lower with the FTX collapse, this period represented a significant low. Buying during that low proved to be a favorable entry point.

He pointed out that current market conditions exhibit characteristics of a significant low, with the market still in a stealth zone. By analyzing the average true range (ATR) of weekly and daily bars, he observed a downward trend across various altcoins, Bitcoin, and the total cryptocurrency market cap. Historically, a decline in ATR during a bull market suggests a stealth consolidation period that typically leads to an upward breakout.

Jason discussed several altcoins:

Fetch.ai: It has rebounded 40% from its low against USDT. To gain strength, it needs to surpass $1.80, which was a previous low on April 13 and marks the 50% retracement level.

AGIX: Similar to Fetch.ai but weaker. It needs to exceed 1,000 and 1,200 Satoshi to demonstrate strength. Holding at 63 cents against USD is crucial.

Ocean Protocol: It needs to maintain a value above 63 cents in order to aim for 90 cents.

Render: It is exhibiting strength above its 50% level. The $3 to $5 range is being monitored for potential corrections. Even with a correction to these levels, the structure would remain bullish.

Pendle: It is holding above the 50% level and performing well despite market fear. Currently trading around $5.80, it needs to stay above $5.70 to avoid a fake out.

Ondo Finance: It is above the 50% level and previous resistance, but caution is necessary as it tests shorter-term levels.

Also Read: Analyst Advises Against Investing in Stagnant Altcoins Like XRP and ADA

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