In this ongoing bearish market sentiment, there are a few best altcoins that have the potential to soar 100% if a bull run begins. However, in the past few days, the overall cryptocurrency market has experienced a significant decline and these altcoins are now trading at a discounted price.
Best Altcoins for Next Bull Run
Based on the price action and technical analysis, the best altcoins for the next bull in 2024 are Solana (SOL), Dogecoin (DOGE), and Ripple’s native token XRP.
Arthur Hayes Prediction for Altcoin Season
Recently, Arthur Hayes, the co-founder and former CEO of BitMEX published a report in which he stated that altcoin season will return once the Bitcoin (BTC) and Ethereum (ETH) the world’s top cryptocurrencies cross the $70,000 and $4,000 marks. Additionally, he added,
Solana will also climb over $250, but the crypto market-wide wealth effect of a Solana pump is nowhere near as potent as with Bitcoin and Ether, given the relative market caps.
Solana (SOL) Price Prediction for 2024
According to expert expert technical analysis, SOL is looking bullish as it trading above the 200 Exponential Moving Average (EMA) on a daily time frame. The price of SOL above 200 EMA makes it one of the best altcoins to watch for the next bull run. Additionally, it is also moving in a tight range between $120 and $190.
At press time, SOL is trading near the $145 level and there is a high possibility it could soar to the $190 level in the coming days. However, once BTC and ETH surpass the $70,000 and $4,000 marks, this could shift the overall market sentiment and help SOL to hit its all-time high and cross the $260 mark.
Dogecoin (DOGE) Price Prediction for 2024
Dogecoin (DOGE) is the world’s biggest meme coin looks bullish and is trading at a discounted price. It has the potential to increase by 100% in the coming days. DOGE has experienced a price drop of over 55% in the last three months and is currently trading above the 200 Exponential Moving Average (EMA) on a weekly time frame.
If market sentiment changes, there is a high possibility DOGE could soar 100% or even more. Additionally, investors and whales are actively accumulating DOGE following its significant recent price decline.
XRP Price Prediction for 2024
The last altcoin that has the potential to double an investment is Ripple’s native token XRP. According to expert technical analysis, XRP has been consistently consolidating in a tight range. This ongoing consolidation has led to the formation of a bullish symmetrical triangle price action pattern on a weekly time frame, and XRP is now there at a breakout area.
If XRP gives a breakout of this triangle pattern and closes a weekly candle above the $0.66 level, there is a high possibility it could increase by 100% to reach the $1.35 level, in the coming days.
Credit: Source link