Ondo

bullish

Prime

Beam

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/miles-deutscher-analyzes-potential-changes-in-the-altcoin-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Miles Deutscher Analyzes Potential Changes in the Altcoin Market</a><br></p>
<p style="text-align: justify">Australian analyst Miles Deutscher has provided an update suggesting that the <a href="https://en.coin-turk.com/loom-network-simplifies-blockchain-development-for-developers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a> market might be on the verge of exiting a six-month downward channel. The recent market rally, spurred by the U.S. Federal Reserve’s interest rate cut and Bitcoin surpassing the $62,000 resistance, paints a promising picture for <a href="https://en.coin-turk.com/bitcoin-layer-2-solutions-on-the-rise-with-confluxs-new-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a>.</p>
<h2 id="indicators-of-market-rally">Indicators of Market Rally</h2>
<p style="text-align: justify">Deutscher noted that his charts indicate altcoins are at a significant breakout point for the first time in six months. The current upward movement may signal a potential breakout above the channel’s upper boundary. This could herald the continuation of a bullish market towards the end of 2024.</p>
<h2 id="impacts-of-possible-trend-changes">Impacts of Possible Trend Changes</h2>
<p style="text-align: justify">He expressed that if the trend continues upward, Layer-1 and GameFi altcoins could show substantial movements. Moreover, he emphasized that AI-based altcoins are likely to remain relevant in the market. Deutscher added that the altcoin market is currently seated in uncertainty, capable of moving in either direction.</p>
<h2 id="focus-on-altcoins-and-projects">Focus on Altcoins and Projects</h2>
<p style="text-align: justify">He identified projects from Layer 1 ecosystems, including SUI, Fantom, Solana , and Near, as potential leaders in the forthcoming altcoin season due to their planned updates. In the AI domain, he continues to track altcoins like Tao, Fet, and Prime while closely monitoring RWA projects like Ondo Finance.</p>
<p style="text-align: justify">Additionally, given the increasing interest in blockchain gaming, he has ramped up investments in the GameFi sector. He has diversified his portfolio by adding Super and Beam coins.</p>
<p style="text-align: justify">Deutscher concluded that further analysis of several weeks of data is necessary as the altcoin market has yet to gain certainty. He stated that a genuine breakout could result in the end of the downtrend and the commencement of a new upward trend.</p>
<p style="text-align: justify">These developments indicate that new opportunities may arise within the <a href="https://en.coin-turk.com/russia-abandons-national-crypto-exchange-plan-embraces-regulatory-framework/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> markets.</p>
<blockquote>
 <p>Miles Deutscher: “The altcoin market is currently on the edge, and whatever direction the trend takes, it should be observed carefully.”</p>
</blockquote>
<p style="text-align: justify">For newer participants, focusing on Layer 1 projects, GameFi, and AI-based tokens could be a strategic move for diversifying their portfolios.</p>
<p>The post <a href="https://en.coin-turk.com/miles-deutscher-analyzes-potential-changes-in-the-altcoin-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Miles Deutscher Analyzes Potential Changes in the Altcoin Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Miles Deutscher Analyzes Potential Changes in the Altcoin Market

Table of Contents

COINTURK NEWS

Other articles published on Sep 25, 2024

Ethereum Soars to $2900 as BTC Dominance Wanes: A Bullish Uprising

Coinpedia Fintech News

Long-term Ethereum Holder Earns $131.7M in 2 Years.

Coinpedia Fintech News

Unveiling the Crypto Titans: Top 5 Bitcoin Whales Shaping the Digital Economy

Turkey halts plans for new taxes on stocks and crypto investments

Join our free newsletter for daily crypto updates!