4 Stellar Altcoins To Buy Before $10 Billion Market Cap Boom

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As an analyst with extensive experience in the cryptocurrency market, I strongly believe that the third quarter of 2024 presents an excellent opportunity for investors to capitalize on the ongoing bullish trend. The recent price correction in Bitcoin has provided a solid foundation for major altcoins like Chainlink (LINK), Polkadot (DOT), Litecoin (LTC), and Polygon (MATIC) to form a bottom and prepare for the next recovery leap.

In Q3 2024, the cryptocurrency market showed optimism with Bitcoin‘s price correction finding stability above $60k, easing selling pressure for most major coins. This allowed them to form a solid base and prepare for another surge. With the potential shift in trend, Chainlink (LINK), Polkadot (DOT), Litecoin (LTC), and Polygon (MATIC) emerged as strong altcoin options to invest in and capitalize on the market recovery.

A well-known trader named Alicharts recently presented an analysis showing that the traditional advice “Sell in May and go away” may no longer apply to Bitcoin in 2023, as there has been a notable surge in retail investment in this cryptocurrency.

The popular stock market adage “Sell in May, and go away” has come to an end! The number of new Bitcoin wallets created by retail investors has reached a four-month peak at 432,026.

— Ali (@ali_charts) July 2, 2024

Based on the data brought to light by Alicharts, the count of fresh Bitcoin addresses has risen to a four-month peak, amounting to 432,026. This surge indicates an influx of retail investors back into the cryptocurrency arena, potentially leading to a change in market trends.

    Altcoins To Buy- Chainlink (LINK)

Chainlink is a decentralized network that acts as a bridge between blockchain smart contracts and real-world data using its native cryptocurrency, LINK. In the market correction during June, there was a significant withdrawal of LINK from circulation, causing its price to drop from $19.2 to $12.6, resulting in a 34.3% decrease.

4 Stellar Altcoins To Buy Before $10 Billion Market Cap Boom

The price of Chainlink briefly touched $12.6, which corresponded with a 32.6% Fibonacci retracement level and the 100-week exponential moving average. However, this support was not sustained, and the altcoin reversed, leading to a 16.8% price increase that took it to $14.5. As a result, Chainlink’s market capitalization grew to reach $8.85 billion.

As a crypto investor, I believe that by consistently purchasing LINK, we can set the stage for a significant 15% price surge. This uptrend could potentially challenge the current downsloping trendline. A successful breakout above this resistance level would be an even more compelling indication of a robust and sustainable rally.

    Altcoins To Buy Polygon (DOT)

Polkadot (DOT) is a distinctive blockchain technology designed to facilitate the exchange of messages and value between multiple interconnected blockchains, forming a trustless network. Each chain retains its distinct characteristics, while they collectively bolster security.

4 Stellar Altcoins To Buy Before $10 Billion Market Cap Boom

For the past three months, the DOT price has been showing a gradual decline, forming a falling wedge shape. The two trendlines, acting as dynamic resistance and support, pushed the asset down to a new 200-day low of $5.39.

Despite the recent market turnaround, Polkadot’s price fell by 21.25%, now trading at $6.53, whereas its market capitalization surged by over $9.38 billion.

During this market uptrend, the price of DOT made a contentious surge beyond the resistance level of its wedge pattern, indicating the conclusion of the correction period. Subsequent gains could motivate investors to aim for $7.77, then $10 and eventually $11.9.

Litecoin, represented by the symbol LTC, is a decentralized digital currency that focuses on delivering swift, safe, and affordable transactions through the utilization of blockchain technology’s distinctive traits.

4 Stellar Altcoins To Buy Before $10 Billion Market Cap Boom

Just like Polkadot’s price action, Litecoin has been exhibiting a gradual correction following a trendline within a falling wedge configuration on the charts. This pattern is typically seen as a precursor to a temporary decline, after which the price breaks above the resistance trendline, signaling the resumption of the bullish trend.

On the 24th of June, the value of the altcoin bounced back from its support at $67.5, resulting in a significant increase of 11.5%, reaching a peak of $75.27. At the time of writing, Litecoin’s market capitalization amounts to $5.615 Billion, and its trading volume over the last 24 hours fluctuates around $223.2 Million.

As a crypto investor, I believe that by consistently purchasing Litecoin (LTC), we may be able to push its price beyond the current resistance level and trendline, potentially reaching a goal of around $112.8.

Polygon (MATIC) functions as a Layer 2 scaling platform complementing Ethereum, enhancing its capacity to handle more transactions and offering smoother user experience, all while preserving the essence of decentralization.

4 Stellar Altcoins To Buy Before $10 Billion Market Cap Boom

In the wake of the market’s recent upturn, the MATIC price has halted its correction, hovering above the $5.4 threshold. The daily chart is exhibiting candles with brief bodies and extended wicks, suggesting hesitation among traders and a lack of decisive control by either buyers or sellers over this asset.

At the given moment, the Polygon token is priced at $0.569 and boasts a market capitalization of $5.61 billion. Should the market bounce back persistently, there’s a strong possibility for Polygon to surpass its current resistance trendline, marking an end to the ongoing correction phase.

As a confident crypto investor, I believe that the imminent breakout will significantly boost the ongoing bullish trend and propel the price surge towards an impressive peak of $0.76. Subsequently, this rally may continue and potentially reach another milestone at $1.08.

Key Takeaway

As I analyze the cryptocurrency market’s recent developments, it becomes clear that after a significant correction in June, major altcoins showed promising signs of reaching their bottom as Bitcoin’s price rebounded from $60,000. This recovery has sparked renewed investor sentiment, making it an ideal time to consider purchasing altcoins that have the potential to reach a market capitalization of $10 billion.

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2024-07-02 23:50