- Crypto analysts study chart prices and mark SOL, INJ, ZIG as market leaders.
- He also says that NEAR, AR, and METIS are strong coins that will set new ATHs.
- According to his observations some weak coins will not break ATHs this cycle.
Bitcoin (BTC) is above the $67,000 price mark and the crypto market continues making its steady upward rally. With the market recovery going well, many altcoins have begun to outperform as well fueling the sentiment on altseason nearing.
To support the arrival of altseason very soon, some altcoins have already begun to print bullish signals. These altcoins include Cardano (ADA), VeChain (VET), WadzPay (WTK), JasmyCoin (JASMY), Solana (SOL), FLOKI, and many others.
Adding on to the altseason hype, many crypto and altcoin enthusiasts, holders, and price analysts have been sharing their price predictions and price forecasts for their favorite altcoins. In particular, one analyst believes that there is high potential for 10x gains for many altcoins fueled by the ETH ETF launch alone.
In a similar line of thought, another popular and reputed crypto and altcoin analyst, CryptoBullet shares an interesting distinction in how to study crypto price charts to wean out the formidable and not-so-formidable assets.
Remember I was telling you about Strong & Weak coins?
Now let me tell you about the third category – Market Leaders
Market Leaders are the ones that break above the 0.786 Fib during the first bull phase and consolidate between 0.786 & ATH (or even above ATH) during the… https://t.co/mWfneuciyV pic.twitter.com/xYhsYM22tx
— CryptoBullet (@CryptoBullet1) July 20, 2024
Based on the post above, the analyst shares his observation on weaning out strong and weak coins. In a nutshell, he says those altcoins that have already tested the 0.618 Fib level will certainly make new ATHs this bull cycle and marks them as ‘strong coins’. There coins include NEAR, AR, METIS, and AVAX, as highlighted.
In contrast, those assets that struggle between the 0.382-0.236 likely won’t set new ATHs in his opinion. These include DOT, AXS, FIL, and ADA. Still, if the assets were to break the level as mentioned above, then the possibility for them to perform well enough to break previous ATHs could shift.
The analyst also mentions those crypto assets that act as market leaders. According to this analyst, market leader assets are those tokens that can break above the 0.786 during the first bull phase and consolidate between 0.786 and ATH. He says these tokens won’t only break ATH but also the 1.618 Fib extension. These tokens include SOL, INJ, and ZIG.
