Market
Top Altcoins to Watch After Recent Dip: Analyst’s Picks
Popular analyst Michaël van de Poppe shares a list of altcoins that could bounce off more strongly after the last dip. This comes as crypto markets reel from the recent correction that saw Bitcoin (BTC) test the depths of $49,000.
Portfolio rebalancing is a favored investment strategy among intentional traders, especially during periods of market volatility. To effectively manage risk, traders should diversify their investments across promising crypto narratives, establish a clear exit strategy, and maintain a disciplined dollar-cost averaging approach.
Analyst Top Altcoin Picks as Market Attempts Recovery
Van de Poppe observes how altcoins are doing after the correction. He notes that Ethereum (ETH) DeFi has been bouncing off more strongly than Solana DeFi tokens, which shows the potential of the respective ecosystem. He also observes the commendable performance among meme coins, AI, and DePIN categories.
“If we are looking at the data, then you want to be positioned at AI and DePIN, meme coins, or you want to be positioned into ETH DeFi. You want to be into the biggest bounces because those are likely going to continue with the momentum as traders are looking at the hype coins or the strongest bounces and start allocating toward those,” van de Poppe noted.
Bittensor (TAO)
An analyst has predicted a 5 to 10X potential for TAO, an AI-driven crypto coin, following its 70% rally from recent lows. This surge has caught the attention of many traders. Michaël van de Poppe is not alone in his optimism; other experts also foresee further gains for the Bittensor token, considering it a strong investment.
“If you’re aiming for a significant boost in your portfolio, TAO might be a compelling choice. Currently, the market cap stands at an impressive $2 billion, reflecting the strong performance and potential of TAO,” noted Lucky, a seasoned Bitcoin investor.
Meanwhile, TAO is a front-runner for the artificial intelligence (AI) sector, which has shifted market sentiment from bearish to bullish. This shift is attributed to the rising global demand for AI technologies. The Relative Strength Index (RSI) also indicates that bulls maintain control, as the RSI remains above the midpoint of 50.
Read more: What Is Altcoin Season? A Comprehensive Guide
Aave (AAVE)
Michaël van de Poppe has also pointed to AAVE as a promising asset, noting significant accumulation against Bitcoin and the formation of higher highs against the USDT stablecoin, both signs of growing bullish momentum. He observes that AAVE has been in horizontal consolidation, with no significant price drops, which he sees as a strong indicator.
Beyond the bullish technical outlook, on-chain metrics for AAVE are also favorable. The Aave blockchain boasts a total value locked (TVL) of around $11.5 billion, against a market capitalization of over $1.4 billion. This valuation suggests considerable upside potential, according to van de Poppe.
Notably, the Aave DAO recently launched the first $100 million yield loan alongside key partners. The move, which exemplifies how tokenization and blockchain technology can revolutionize the issuance and management of bonds and securities, could bode well for the AAVE token.
Aevo (AEVO)
Michaël van de Poppe also highlights AEVO as a promising buy, pointing to its predictions and options market. From a technical perspective, he notes a bullish divergence in the Relative Strength Index (RSI), where the RSI shows higher lows against the price’s lower highs, indicating growing bullish momentum.
Van de Poppe further identifies a falling wedge pattern on AEVO’s one-day chart, which suggests a potential breakout to the upside. This pattern is widely regarded as a bullish reversal signal, confirmed when the price breaks above the upper trend line. The profit target for this pattern is typically calculated by adding the maximum distance between the upper and lower trend lines to the breakout point.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
The analyst did not highlight any projects on his radar for the DePIN category. Nevertheless, experts are already looking at Lumerin (LMR), Destra Network (DSYNC), AIOZ Network (AIOZ), StorX Network (SRX), and Storj (STORJ).
Investors are actively preparing for an altcoin season despite skepticism that the capital rotations will happen. Notwithstanding, getting ahead of things is a safer option than succumbing to the fear of missing out. Nevertheless, traders and investors must also conduct their own research.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
SEC Moves Toward Solana ETF Approval Amid Pro-Crypto Shift
The SEC is quietly meeting with several issuers to discuss approving a Solana ETF, claims Fox Business reporter Eleanor Terrett. With Trump’s impending pro-crypto administration, the SEC seems more inclined to approve such a product.
However, anti-crypto figure Gary Gensler is still nominally in charge of the SEC, and public progress might not begin until 2025.
Solana ETF Approval Is Getting Closer
According to a scoop from Fox Business reporter Eleanor Terrett, the SEC and several ETF issuers are in talks to approve a Solana ETF. Currently, Brazil is the only country that has given this product a green light. As recently as September, Polymarket odds gave the SEC a dismal 3% chance of approving it. This reluctance, however, might soon be changing:
“Talks between SEC staff and issuers looking to launch a Solana spot ETF are “progressing” with the SEC now engaging on S-1 applications. Recent engagement from staff, coupled with the incoming pro-crypto administration, is sparking a renewed sense of optimism that a Solana ETF could be approved sometime in 2025,” Terrett claimed.
Terrett was very clear about the impetus for this progress in negotiations: Donald Trump’s re-election. On the campaign trail, Trump vowed to significantly reform US crypto policy, and one cornerstone was firing anti-crypto SEC Chair Gary Gensler. Gensler has apparently conceded to his impending ouster, and his replacement will undoubtedly support the industry.
Previous attempts have floundered at an early step in the process. Once the SEC officially acknowledges an application, it must confirm or deny it within a 240-day window. Previous filings have lingered in limbo at this stage. However, the list of candidates is now growing: Canary Capital filed for a Solana ETF in October, and BitWise did the same earlier today.
Nonetheless, these positive negotiations still only consist of anonymous rumors. The Commission has not publicly moved to begin this process, and Gensler is still nominally in charge. Terrett posits that the SEC will only make serious progress on the Solana ETF at the start of 2025. Compared to previous pessimism, however, this is a complete sea change.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
ETH/BTC Ratio Plummets to 42-Month Low Amid Bitcoin Surge
The ETH/BTC ratio, a metric measuring Ethereum’s price performance compared to Bitcoin, has reached its lowest point since March 2021. This development comes amid BTC’s brief rise to $98,000.
While the flagship cryptocurrency has increased by 7.45% in the last seven days, ETH has hovered around the same region, with investors raising concerns about the altcoin’s future.
Ethereum Continues to Lag Behind Bitcoin
In February, the ETH/BTC ratio climbed to a yearly high of 0.060. During that time, speculation spread that Ethereum’s price would begin to outperform Bitcoin and validate the altcoin season. However, that has not happened, as Bitcoin’s price has continued to make new highs
Ethereum, on the other hand, is yet to retest to reclaim its all-time high despite reaching $4,000 earlier in the year. This disparity in performance could be linked to several factors. For instance, both cryptocurrencies saw approval for exchange-traded funds (ETFs) this year.
However, while Bitcoin has seen billions of dollars in inflows, ETH has been inconsistent in attracting capital. Hence, the institutional inflow has driven BTC toward $100,000, ensuring that the ETH/BTC ratio drops to $0.033 — the lowest level in 42 months.
Further, the disparity in Ethereum’s performance can largely be attributed to sustained selling pressure. For instance, CryptoQuant data reveals that exchange inflows into the top 10 exchanges have climbed to 461,901 ETH, valued at approximately $1.50 billion as of this writing.
This surge in exchange inflow reflects large deposits by investors, indicating a heightened willingness to sell. Such movements typically increase the supply of ETH on exchanges, raising the likelihood of a price drop.
In contrast, a low exchange inflow generally indicates that investors are holding onto their assets, which is not the current scenario for ETH.
ETH Price Prediction: Crypto Could Retrace
As of this writing, ETH trades at $3,317, which is a higher close than yesterday’s. Despite that, the altcoin is still below the Parabolic Stop And Reverse (SAR) indicator. The Parabolic SAR generates a series of dots that track the price movement, positioning above the price during a downtrend and below the price during an uptrend.
A “flip” in the dots — shifting from one side to the other — often signals a potential trend reversal. As seen below, the indicator is above ETH’s price, suggesting that the cryptocurrency could reverse its recent gains.
If this is the case and the ETH/BTC ratio declines, Ethereum’s price could decline to $3,083. However, if buying pressure increases, that might not happen. Instead, the value could surge above $3,500 and toward 4,000.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Cash (BCH) Price Up, Leads Daily Gains
Bitcoin Cash (BCH) price has risen more than 10% in the last 24 hours, surpassing the $10 billion market cap and signaling renewed bullish momentum. The recent surge has brought BCH closer to key resistance levels, indicating the potential for further gains if the uptrend strengthens.
However, indicators like the RSI and ADX show that while the trend is improving, it is not yet fully strong. Whether BCH can sustain its upward momentum or face a pullback will depend on how it navigates critical resistance and support levels in the coming days.
BCH Current Uptrend Is Getting Stronger
BCH currently has an ADX of 19.31, up from 12 just a day ago. This increase indicates that the strength of the trend is gradually gaining momentum after being weak.
However, since the ADX is still below 25, it suggests that the uptrend has not yet reached a strong or sustained level of trend strength.
The ADX measures the strength of a trend, with values above 25 indicating a strong trend and below 20 indicating a weak or uncertain trend. While Bitcoin Cash is currently in an uptrend, the ADX at 19.31 suggests that the trend is still in its early stages of strengthening.
If the ADX continues to rise above 25, it could confirm a stronger uptrend, but for now, Bitcoin Cash price movement remains cautious, with room for further development.
Bitcoin Cash Is Not In The Overbought Zone Anymore
Bitcoin Cash has an RSI of 64.5, down from over 70 just a day ago. This decline suggests that while the asset is still experiencing bullish momentum, the intensity of buying pressure has started to decrease.
The drop below 70 takes BCH out of the overbought zone, indicating a more balanced market sentiment.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 64.5, BCH remains in bullish territory, which supports the ongoing uptrend.
However, the slight decline in RSI could mean the pace of gains is moderating, potentially leading to BCH price consolidation before any further upward movement.
BCH Price Prediction: Will a New Surge Occur Soon?
If BCH maintains its current uptrend and gains additional momentum, it could continue its rise after climbing more than 10% in the last 24 hours.
This strength could push BCH price to test the resistance at $536.9. Breaking this level would signal a continuation of bullish momentum and could attract further buying interest.
On the other hand, if the uptrend fades away and reverses, BCH price could retrace to test the nearest support levels at $424 and $403. If these supports fail to hold, the price could fall further to $364, representing a potential 27% correction.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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