Release: 2024/07/15 17:33 Reading: 562
Top Altcoins to Observe and Invest in for July
Analyst Miles Deutscher recently disclosed his top five altcoins for accumulation in July, despite the typically sluggish summer season and recent market volatility. He believes the downturn provides a window for analysis and investment. Amidst market corrections, he recognizes signs of recovery, particularly in altcoins.
Coin 1: Thorchain
Deutscher highlights Thorchain's unique "reflexive asset" feature. Its dynamics allow for substantial price appreciation during bull markets. RUNE's support level at around $3 on the weekly chart indicates potential for outperformance in the next bull market, though it may face downward pressure in a bearish environment.
Coin 2: Layer Zero
Altcoins with overloaded emissions have suffered in bear markets. Deutscher suggests that undervalued coins like Layer Zero, despite being depressed, hold potential for significant price movements as market conditions improve. The absence of imminent unlocks prevents price suppression caused by excess supply.
Coin 3: Ondo Finance
Ondo Finance has experienced significant declines but exhibits potential. The analyst notes crucial price levels: $1 for confirmation and $0.75 as a support zone. The ETH ETF and the trend of RWAs gaining traction bolster its outlook.
Coin 4: Prime Echelon
From the AI and gaming sector, Prime Echelon is at a key support level after a notable correction. Deutscher deems it a suitable candidate for long-term investment.
Coin 5: Pepe and Other Meme Coins
Amidst altcoin declines, leading meme coins like Pepe, Whiff, Bonk, Mog, and Popcat have displayed resilience during market recoveries. Deutscher emphasizes their strong narrative and influence within the crypto community. He recommends a "barbell strategy" of holding Bitcoin and established meme coins like Pepe, acknowledging the higher risk associated with lower-cap meme coins.
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