Top 3 Altcoins to Stack Before the Altcoin Rally Kickstarts in 2024
- WBOYOriginal
- 2024-09-10 00:36:131042browse
Amid increased market uncertainty, the Ethereum price has stabilized around the $2,400 mark. Further, with the dominance of Bitcoin constantly
As the market continues to navigate increased uncertainty, investors are keeping a close eye on the movements of altcoins. With the dominance of Bitcoin showing signs of waning, many believe that 2024 could mark the beginning of a fresh Altcoin season. Here's a closer look at the top altcoins to stack before the rally kicks off.
Solana (SOL) Despite the ongoing market turmoil, Solana has managed to hold its value above the $127 mark, indicating strong support at that level. Notably, SOL is still trading at a discount of 37.95% from its yearly high, hinting at a potential bullish reversal.
On the technical front, the Relative Strength Index (RSI) continues hovering below its neutral point in the 1D time frame. However, the average trend showcases a potential bullish convergence. Additionally, with its Simple Moving Average (SMA) displaying a similar action, the Solana price hints at a positive outlook in the coming time.
If a bullish reversal occurs, the SOL coin price will prepare to retest its upper high of $181. Moreover, a bullish breakout could see it record a new yearly high during the upcoming months.
Dogecoin (DOGE) Having dropped ~58% from its yearly high, the memecoin leader is currently trading close to its crucial resistance/support level of $0.10. Among the altcoin categories, memecoins took a major hit as Bitcoin price plunged below the $55K level. However, top tokens have recovered with a stable price action.
On the technical aspect, the Moving Average Convergence Divergence (MACD) has displayed a constant flatline with its averages recording a neutral price action in the 1D time frame. This highlights a cool-off in the price action of the DOGE coin price in the market.
Maintaining the price above its resistance level of $0.10 will set the stage for the Dogecoin price to head toward its next crucial resistance of $0.155. Furthermore, with an AltSeason in action, this memecoin could retest its yearly high.
AIOZ Network (AIOZ) Among the altcoin categories, Artificial Intelligence (AI) has faced a massive setback over the past few weeks. AIOZ Network price has dropped around 25% in the last 30 days. However, the price has recorded a bullish curve above the support level of $0.3393, indicating a potential reversal.
On the technical aspect, the Simple Moving Average (SMA) is on the verge of recording a bullish crossover in the 1D time frame, indicating an increased positive influence in the market. Moreover, the RSI indicator experiences a similar action, indicating that the price will continue gaining value.
An intensified bullish action could push the AIOZ price toward its upper high of $0.6843. Moreover, if the bulls continue to gain momentum, this AI token could breach its $0.8395 level and prepare to retest its $1 mark.
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