AltSeason Alert: ETH Gaining Strength, Last Chance To Buy Before Altcoin Rally?

2 months ago 20

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Amid increased market uncertainty, the Ethereum price has stabilized around the $2,400 mark. Further, with the dominance of Bitcoin constantly declining, investors are considering this to be a sign of the beginning of a fresh Altcoin season cycle.

Over the past month, the dominance of lesser-known tokens has increased to 17.02% from 16.32%. Moreover, many altcoins have defied the market trend and have added significant valuation to their respective portfolio during this period.

However, with Ethereum hovering below the $2.4K mark, will investors experience a mini AltSeason this 2024? Scroll down to find out the top altcoins to stack before the Altcoin rally kickstarts.

Solana (SOL)

With the ongoing market turmoil, the SOL price has held its value above the $127 mark. This highlights a strong support point at that level. Moreover, despite strong fundamentals, it is trading at a discount of 37.95% from its yearly high. This indicates a potential bullish reversal for the altcoin.

The Relative Strength Index (RSI) continues hovering below its neutral point in the 1D time frame. However, the average trend records a potential bullish convergence. Further, with its SMA displaying a similar action, the Solana price hints at a positive outlook in the coming time.

Suppose, a bullish reversal occurs, in that case, the SOL coin price will prepare to retest its upper high of $181. Moreover, a bullish breakout could result in it recording a new yearly high during the upcoming months.

Also read, Solana Price Prediction 2024 – 2030

Dogecoin (DOGE)

With a drop of ~58% from its yearly high, the memecoin leader is presently hovering close to its important resistance/support level of $0.10. As the price of Bitcoin plunged below the $55K level, the meme coin category took a major hit. However, top tokens have successfully recovered with stable price action.

The Moving Average Convergence Divergence (MACD) has displayed a constant flatline with its averages recording a neutral price action in the 1D time frame. This highlights a cool-off in the price action of the DOGE coin price in the market.

Maintaining the price above its resistance level of $0.10 will set the stage for the Dogecoin price to head toward its next crucial resistance of $0.155. Furthermore, with an AltSeason in action, this memecoin could retest its yearly high.

AIOZ Network (AIOZ)

The Artificial Intelligence (AI) category has faced a massive setback over the past few weeks. The AIOZ Network price has dropped ~25% during the last 30 days. However, the price has recorded a bullish curve above the support level of $0.3393, indicating a potential reversal.

The Simple Moving Average (SMA) is on the verge of recording a bullish crossover in the 1D time frame. This suggests increased positive influence in the market. Moreover, the RSI indicator experiences a similar action, indicating that the price will continue gaining value.

An intensified bullish action could push the AIOZ price toward its upper high of $0.6843. Moreover, if the bulls continue to gain momentum, this AI token could breach its $0.8395 level and prepare to retest its $1 mark.

Also read, Dogecoin Price Prediction 2024 – 2030

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