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Analysts suggest trading strong narrative altcoins during volatility

GrafaGrafa2024/08/29 08:05
By:Liezl Gambe

September is traditionally a challenging period for the crypto market, often marked by erratic price movements.

As this trend continues, crypto analysts recommend focusing on altcoins with strong narratives to navigate market turbulence.

Miles Deutscher, a well-known crypto analyst, suggests that traders target "quality altcoins" that demonstrate resilience and align with popular themes.

He emphasises sectors like real-world assets (RWA), artificial intelligence (AI), and meme coins, identifying specific tokens such as MANTRA (CRYPTO:OM), SUNDOG (CRYPTO:SUNDOG), PEPE (CRYPTO:PEPE), Mog Coin (CRYPTO:MOG), and Bittensor (CRYPTO:TAO) as promising options.

Deutscher argues that holding narrative-driven altcoins is more important than timing the market.

He cautions against frequent shifts between coins, as this can lead to mistakes and missed opportunities during market fluctuations.

His analysis of the TOTAL 3 chart, which tracks altcoins excluding Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH), indicates a continued downtrend.

He advises buying significant dips or waiting for a confirmed upward trend before investing further.

Another crypto trader, Ansem, also highlights the importance of selectivity in the current market.

He recommends focusing on altcoins with strong fundamentals and potential for growth.

Ansem remains optimistic about Solana (CRYPTO:SOL), citing its strength against major cryptocurrencies and increased user engagement.

He expects positive developments for altcoins around mid to late 2025, aligned with potential macroeconomic improvements like anticipated interest rate cuts by the US Federal Reserve.

Crypto Nova, another analyst, predicts a significant altcoin season in 2025, following historical patterns linked to Bitcoin halving cycles.

He notes that minor altcoin rallies tend to occur in the year of a halving, with major upswings typically happening the year after.

As the market braces for continued volatility, these strategies offer a roadmap for navigating the uncertain terrain ahead.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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