Top Analysts Forecast 4 Altcoins to Surpass Historical Peaks by 2024!
Key Points:
– CryptoBulle predicts significant growth for four altcoins, expecting them to reach new all-time highs (ATH) by 2024.
– Investing in low-priced altcoins now can lead to substantial gains during the upcoming bull market.
– NEAR Protocol has surged 265%, indicating strong growth potential and resilience in the crypto market.
As the crypto market displays bullish trends this week, analysts are shifting their attention to specific altcoins that have the potential to outperform Bitcoin by 2024. Crypto analyst CryptoBulle suggests that now is the perfect time to invest in certain altcoins that are currently at a low price point but are expected to reach new all-time highs (ATH) in the near future.
CryptoBulle recommends identifying these promising altcoins by analyzing their performance against Fibonacci retracement levels. By drawing the Fibonacci retracement from the top to the bottom of their recent price movements, it becomes possible to pinpoint which altcoins are likely to break their ATH. Altcoins that have already tested the 0.618 or even the 0.786 Fibonacci levels are considered strong candidates for reaching new ATHs.
CryptoBulle provides a list of altcoins that fit this criteria, including NEAR Protocol (NEAR), Arweave (AR), MetisDAO (METIS), and Avalanche (AVAX). NEAR Protocol is known for its scalability and user-friendly features, displaying resilience and potential for significant growth. After experiencing a low of $2.45 in January, the price surged to $9 by March, representing a 265% increase. Although it dropped 20% and stabilized around $7.3, NEAR currently trades at $8.08 with a market cap of $8.70 billion.
Arweave, the storage token, has also seen a remarkable surge in its price, reaching near $46.5. This increase is attributed to its new, faster, and more efficient blockchain called “Arweave AO.” The Fear & Greed Index reading for Arweave is 57, indicating greed among investors.
MetisDAO, a Layer 2 solution for Ethereum, is gaining traction due to its ability to enhance scalability and reduce transaction costs. With a market cap of $326 million, Metis is currently trading at $57.73, reflecting a minor drop of 1.4%.
Avalanche, a layer-one blockchain for decentralized applications and custom networks, is a strong competitor to Ethereum. Similar to Arweave, Avalanche strengthens its position against Ethereum with the launch of its new blockchain, Arweave AO.
Overall market sentiment is currently bullish, and strategic investments in these selected altcoins have the potential to yield substantial rewards for investors in the future.