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Best Crypto Traders to Follow in September 2024

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In the crypto market, staying ahead of the curve demands more than just surface-level knowledge. Often, it involves following top crypto traders who offer insights that average investors might miss.

Some traders have consistently navigated this highly volatile market with skill and precision. As we enter September, here are five of the best crypto traders you should consider keeping an eye on.

Crypto Tony is one of the best crypto traders to follow in September 2024. With over 448,000 followers on X, Tony regularly advises newbies not to use leverage and to keep to the basics, making him one of the most sought-after traders for beginners.

An assessment of the analyst’s page shows that his focus is on Bitcoin (BTC). Altcoins like Ripple (XRP), as well as the top meme coins, are part of the analysis Tony shares. In a recent post, the trader posted his thesis on Polkadot (DOT).

According to Tony, DOT, which has seen a notable decline recently, could offer a good entry point for a future purchase.

DOT Price Action. Source: X/Twitter

Pentosh1 is a pseudonymous crypto trader with over 800,000 followers on X, famous for his short-term analysis of Bitcoin and altcoins. In July, Pentosh1 opined that altcoins might remain stuck in low ranges after most had fallen 15% to 20% from their bear market lows.

Interestingly, this has largely been the case since his prediction. Regarding Bitcoin, Pentosh1 suggests that the cryptocurrency could rally to a new all-time high soon.

“Believe it only to be a matter of time before BTC hits a new ATH. Look at the last 6 months alone, an ETF approval that has been the most successful ETF in history and is now capturing a large portion of the political environment with multiple nation-states discussing it on top,” he posted.

Third on this list is Bejaminn Cowen, who previously appeared on the best crypto traders list in June. Cowen’s emergence is again linked to his expertise in providing detailed analysis from a technical and macroeconomic perspective.

Unlike Pentosh1 and Crypto Tony, who focus on X, Cowen manages a YouTube page in addition to his X account. On YouTube, the trader has 809,000 subscribers. On X, Cowen, who is the founder and CEO of IntoTheCryptoverse, boasts 852,000 followers.

Two days ago, the analyst shared his opinion on Solana (SOL), noting that the altcoin’s price decline does not mean that the correction is over. However, Cowen also admits that a recovery might not take a long period, but a fall looks likely before that.

Read more: Which Crypto Sectors Boom During the Holidays? A Guide for Traders

With 273,300 followers on X, Bluntz focuses on the top two cryptos: Bitcoin and Ethereum .  Recently, in a post on the social media platform, the trader explained that BTC’s price might struggle from now till October. 

For ETH, Bluntz revealed that crypto whales might soon start selling Bitcoin for Ethereum, possibly helping the altcoin price breakout.

“The range is about to be reclaimed, and the 3D bull div is on ETHBTC brewing, and whales are selling BTC into ETH for the first time in this cycle,” Blutnz wrote.

Apart from these two, Bluntz, who the market sees as one of the best crypto traders, also analyzes meme coins. On August 25, the trader told his followers that it might be time for cat-themed meme coins to dominate the market again after a relatively quiet period.

CrediBULL Crypto, a trader with 415,500 followers on X, mostly shares theses on altcoins. On his page, you will find analysis related to Chainlink (LINK), ETH, and even DeFi coins like Curve (CRV).

However, this trader engages in leverage trading. As such, the risk appetite might not be one for beginners who are likely to be comfortable with holding spot positions. Nevertheless, CrediBULL Crypto remains one of the best traders to follow in September 2024.

Read more: 9 Best Crypto Day Trading Courses for Aspiring Traders

In conclusion, while the five traders highlighted in this article have demonstrated their reliability, it’s crucial to make your own trading decisions. Following these traders can help you build confidence and improve your technical and fundamental analysis skills.

However, the crypto market’s unpredictable nature can present challenges. To maximize potential returns, always conduct your own research.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano Whales Accumulation Hits $55 Million: $1 Target Soon?

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On November 20, crypto whales offloaded significant amounts of Cardano (ADA), disrupting its bullish momentum. However, the narrative shifted today as the Cardano whales’ accumulation has taken center stage.

This renewed buying activity suggests that ADA’s price might regain its bullish momentum toward $1. But does the data support this bullish outlook? 

Cardano Key Investors Change Their Stance

According to IntoTheBlock, Cardano’s large holders’ netflow has surged to 67.51 million ADA, signaling a significant shift in sentiment among crypto whales. The netflow represents the difference between the amount of ADA purchased and sold by large holders over a specific period.

When netflow increases, it indicates that whales are buying more than they are selling. Typically, this is a bullish signal. Conversely, a drop in netflow suggests more selling by whales, which is generally regarded as bearish.

In this case, the recent netflow increase, valued at approximately $55 million, aligns with ADA’s 11% price surge over the last 24 hours. Thus, this Cardano whales accumulation suggests that ADA may be poised for further gains, with the recent uptick serving as a potential foundation for a higher value.

Cardano crypto whales accumulation
Cardano Large Holders Netflow. Source: IntoTheBlock

Furthermore, the In/Out of Money Around Price (IOMAP) indicator provides further support for this bullish outlook. For context, the IOMAP analyzes token clusters based on three groups: holders who purchased below the current price (in the money), above the current price (out of the money), and those at breakeven.

This metric is essential for identifying potential support and resistance zones. Specifically, if there is a higher number of tokens “in the money, ” it signifies solid support, as many holders are at a profit and less likely to sell, potentially driving the price higher.

On the other hand, a higher “out of the money,” volume points to resistance, as holders might sell to recover losses, putting downward pressure on the price.

Cardano price support
Cardano IOMAP. Source: IntoTheBlock

Currently, ADA’s IOMAP shows strong support levels outweighing resistance zones, reinforcing the potential for its price to climb further.

ADA Price Prediction: Move Toward $1 Almost Valid

On the daily chart, ADA’s price has risen above the key Exponential Moving Averages (EMAs). Specifically, the 20-day EMA (blue) and 50 EMA (yellow) are below Cardano’s price. When the price is above the indicator, the trend is bullish.

On the other hand, if the price is below the indicator, the trend is bearish. Therefore, it appears that, with the current trend, ADA could rise higher than $0.87. If this happens, the altcoin might rally toward the $1 mark.

Cardano price analysis
Cardano Price Analysis. Source: TradingView

However, if Cardano whales decide to sell and book profits, this prediction might not come to pass. Instead, the price could drop to $0.68.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Approaches $100K: The Countdown Is On

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Este artículo también está disponible en español.

Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level.

  • Bitcoin started a fresh increase above the $95,000 zone.
  • The price is trading above $95,000 and the 100 hourly Simple moving average.
  • There is a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue to rise if it clears the $100,000 resistance zone.

Bitcoin Price Sets Another ATH

Bitcoin price remained supported above the $92,000 level. BTC formed a base and started a fresh increase above the $95,000 level. It cleared the $96,500 level and traded to a new high at $98,999 before there was a pullback.

There was a move below the $98,000 level. However, the price remained stable above the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. There is also a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair.

The trend line is close to the 50% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. Bitcoin price is now trading above $96,000 and the 100 hourly Simple moving average.

On the upside, the price could face resistance near the $98,880 level. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000.

Bitcoin Price
Source: BTCUSD on TradingView.com

A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,000 resistance level. Any more gains might send the price toward the $104,500 resistance level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $100,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $98,000 level.

The first major support is near the $96,800 level. The next support is now near the $95,500 zone and the trend line. Any more losses might send the price toward the $92,000 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $96,800, followed by $95,500.

Major Resistance Levels – $99,000, and $100,000.



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This Is Why XRP Price Rallied By 25% and Could Soon Hit $2

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Ripple’s (XRP) price rallied by 25% in the last 24 hours following Gary Gensler’s announcement that he would resign as the US Securities and Exchange Commission (SEC) chair on January 20, 2025.

This development comes as a relief to the popular “XRP Army,” which has had to deal with suppressed price action due to the Gensler-led SEC’s nonstop petitions against Ripple. But that is not all that happened. 

Ripple Bears Face Notable Liquidation Following Gensler’s Notification

Gensler’s announcement appears to be a positive development for the broader crypto market. But XRP holders seemed to benefit the most. This was particularly significant given the unresolved Ripple-SEC legal issues that have persisted throughout the SEC Chair’s tenure.

As a result, it came as no surprise that XRP price rallied and outpaced those of any other cryptocurrency in the top 10. Furthermore, the development triggered liquidations totaling $26.11 million over the last 24 hours.

Liquidation occurs when a trader fails to meet the margin requirements for a leveraged position. This forces the exchange to sell off their assets to prevent further losses. In XRP’s case, the liquidation primarily resulted in a short squeeze.

XRP liquidations
Crypto Market 24-Hour Liquidations. Source: Coinglass

A short squeeze happens when a large number of short positions (traders betting on price declines) are forced to close, driving the price higher as they rush back to buy back the asset.

At press time, XRP trades at $1.40 and currently has a market cap of $80.64 billion. With Gensler almost gone, crypto lawyer John Deaton noted that XRP price gains could be higher, and the market cap could climb to $100 billion.

“XRP soon will achieve a $100B market cap. Times are changing,” Deaton wrote on X.

Meanwhile, CryptoQuant data shows that the total number of XRP sent into exchange has significantly decreased. Typically, high values indicate increased selling pressure in the spot market. This is because it suggests that more assets are being offloaded, potentially driving prices lower.

However, since it is low, XRP holders are refraining from selling. If this remains the case, the token’s value could rise higher than $1.40.

XRP exchange inflow
XRP Exchange Inflow. Source: CryptoQuant

XRP Price Prediction: $2 Coming?

According to the 4-hour chart, XRP has been trading within a range of $1.04 to $1.17 since November 18. This sideways movement has resulted in the formation of a bull flag — a bullish chart pattern that signals potential upward momentum.

The bull flag begins with a sharp price surge, forming the flagpole, driven by significant buying pressure that outpaces sellers. This is followed by a consolidation phase, where the price retraces slightly and moves within parallel trendlines, creating the flag structure.

Yesterday, XRP broke out of this pattern, signaling that bulls have seized control of the market. If this momentum persists, XRP’s price could surpass $1.50, potentially approaching the $2 threshold.

XRP price analysis
XRP 4-Hour Analysis. Source: TradingView

However, this bullish scenario hinges on market behavior. If holders decide to secure profits, selling pressure could push XRP’s price below $1, erasing recent gains.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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