Expert Insights: 7 Altcoins Showing Promising Breakout Potential – A Must-Watch List
31 Ottobre 2023 - 8:00PM
NEWSBTC
In a recent X (formerly Twitter) post, renowned crypto expert Miles
Deutscher provided valuable insights into his weekly tokens and
narrative watchlist, focusing on critical altcoins and upcoming
events with significant trading potential. Altcoins Poised
For Potential Breakout Deutscher’s analysis sheds light on several
altcoins, including Solana (SOL), SingularityNET (AGIX), Fetch.ai
(FET), Ocean Protocol (OCEAN), Arkham (ARKM), Dogecoin (DOGE), and
XRP. Solana: Deutscher emphasizes the importance of Solana’s
Breakpoint 2023 conference and anticipates major announcements.
While previous Breakpoints have resulted in “sell the news” events,
Deutscher remains cautiously short on SOL. On the other hand,
Miles expects a positive response from the community after the
recent FTX collapse. However, historical patterns suggest the
possibility of a sell-off, which warrants vigilance. Nonetheless,
SOL has broken previous weekly records every week for the past
month. Currently, SOL is trading at $36.27, a new record for 2023
and a level not seen since November 5, 2022. Moreover, SOL has seen
significant gains of 4.4% over the past 24 hours, following its
remarkable 57% rise over the past 30 days. AGIX, FET, OCEAN: The
resurgence of the artificial intelligence (AI) narrative has
sparked anticipation for a series of AI conferences, including
OpenAI’s developer conference on November 6. Deutscher advises
focusing on established leaders such as AGIX, FET, and OCEAN.
Related Reading: Why This 70-Year-Old Billionaire Wants To Own
Bitcoin These tokens have demonstrated strength during previous AI
market surges. Deutscher suggests avoiding speculation on low-cap
coins and opting for long positions on these altcoin AI leaders.
Over the past 30 days, AGIX has seen a remarkable 19% increase in
price. However, over the past 1 year, the token has seen a
staggering 350% rise amidst the AI narrative hype. It is currently
trading at $0.2284. On the same note, FET has surged over 329% over
the 1 year and is currently trading at $0.3665. OCEAN has
posted smaller gains over the 1 year, but has still recorded a
significant 110% surge over this period and is currently trading at
$0.3645. ARKM: According to Deutscher, although ARKM has received
less attention than other altcoins, it is promising due to its
involvement in AI-related businesses and its investment by Sam
Altman. Deutscher highlights ARKM’s potential in the AI
space, especially during the Solana conferences. This makes ARKM
one of the altcoins to watch closely for potential trading
opportunities, according to Deutscher. Currently, the crypto
analytics and data tracking platform’s native token is trading at
$0.3833, up 20% in the last fourteen days. XRP Speculation
Intensifies Ahead Of Ripple’s ‘Swell Conference’ DOGE: While DOGE
has seen a decline in price action and hype, Deutscher highlights
two key factors that could influence its performance. First,
DOGE Day, has historically attracted retail interest. Second, the
potential for a Halloween tweet from Elon Musk, as was the case
last year. Deutscher suggests that DOGE is best suited for spot
trading and dollar cost averaging (DCA), as it remains an
attractive option for retail investors and has the potential for a
strong pump in the future. Related Reading: Can PEPE Build On Its
60% Rise? Here’s What On-Chain Data Says Currently, the Meme coin
has lost its bullish momentum and has erased most of its gains over
the past few days. Currently, the token is trading at $0.0686, down
1.9% in the past 24 hours and 42% in the 1-year time frame.
Last but not least is XRP: With Ripple’s “Swell Conference”
scheduled for November 8-9, Deutscher acknowledges the heavy
speculation surrounding a potential initial public offering (IPO),
although he believes it is unlikely. However, given the
speculative nature of the crypto market, such speculation can fuel
FOMO (fear of missing out) )-driven rallies. XRP has experienced
pre-conference spikes, making it a token to watch this week and
next. Currently, XRP is experiencing a sustained uptrend price
action, gaining 2% in the past 24 hours, pushing the token to the
0.5949 level, which has not been seen since August. Featured image
from Shutterstock, chart from TradingView.com
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