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Here’s a List of Top Altcoins That Will Lead the ‘Recovery Rally’

Here’s a List of Promising Altcoins That Will Lead the ‘Recovery Rally’

Popular analyst Jason Pizzino recently shared his insights on some altcoins worth considering. The market has displayed signs of a significant low or nearing one, reminiscent of discussions held in June 2022. Interestingly, there seems to be a recurring pattern of increased volatility and fear around major dates, such as the solstice.

Jason highlighted the collapse experienced in May and June 2022, which witnessed the downfall of DeFi projects like Luna and BlockFi. Despite the market dip following the FTX collapse, buying during that low period proved to be a profitable decision.

Presently, market conditions resemble characteristics of a significant low, with the market still operating in a stealth zone. By examining the average true range (ATR) of bars on a weekly and daily basis, Jason noticed a downward trend across multiple altcoins, Bitcoin, and the total cryptocurrency market cap. Historically, a decline in ATR during a bull market suggests a stealth consolidation phase that typically precedes an upside breakout.

Here are some altcoins Jason discussed:

1. Fetch.ai: Managed to bounce 40% from its low against USDT. For strength, it must reclaim the previous low of $1.80, which corresponds to the 50% retracement level observed on April 13.

2. AGIX: Comparable to Fetch.ai but exhibiting weaker signals. To demonstrate strength, it needs to surpass 1,000 and 1,200 Satoshi. Holding steady at 63 cents against USD is crucial.

3. Ocean Protocol: Aiming for 90 cents, Ocean Protocol must maintain a support level above 63 cents.

4. Render: This altcoin displays strength above its 50% level. It’s important to monitor the $3 to $5 range for potential corrections. Even if a correction occurs within this range, the overall structure remains bullish.

5. Pendle: Holding above the 50% level and performing well despite market fear, Pendle currently hovers around $5.80. To avoid a fake out, it needs to stay above $5.70.

6. Ondo Finance: Positioned above the 50% level and previous resistance, Ondo Finance requires caution as it tests shorter-term levels.

These altcoins offer potential opportunities within the current market climate. However, as with any investment, it is essential to conduct thorough research and exercise cautious decision-making.