This week marks a pivotal moment for the cryptocurrency market, as the first interest rate cut since 2020 is scheduled for Wednesday. According to renowned crypto analyst Miles Deutscher, several altcoins are positioned for substantial growth, contingent on the market’s response. Deutscher has identified five tokens that deserve close monitoring, emphasizing their technical setups and fundamental strengths.
Top 5 Market Picks to Skyrocket
Fantom (FTM)
Starting with Fantom (FTM), Deutscher remains optimistic about its potential for further growth. Fantom has been on a remarkable run, achieving a 20% gain last week and outperforming major cryptocurrencies like Bitcoin and Ethereum. This performance is largely driven by upcoming developments, including the highly anticipated Sonic upgrade, aimed at improving the network’s speed and efficiency.
This Layer-1 blockchain has demonstrated resilience, and Deutscher advises investors to manage their risk carefully, particularly those who entered positions last week. Nevertheless, Fantom remains a solid short-to-mid-term hold. On the technical front, FTM is trading below the $0.53 neckline of an inverse head-and-shoulders pattern. A breakout above this level could potentially propel FTM towards $0.81, representing a potential 56% gain.
Mantra (OM)
Next on the list is Mantra (OM), another top performer from last week with a 27% gain. Mantra is known for its strong DeFi capabilities and is favored for its steady growth and potential for further expansion. With strong fundamentals and a supportive community, Mantra is well-positioned to thrive as the market reacts to macroeconomic factors such as the upcoming rate cut.
Currently priced at $0.72, Mantra is ranked No. 126 in the global cryptocurrency market, making it a promising candidate for further gains.
Sundog (SUNDOG)
Sundog (SUNDOG) is a relatively lesser-known token that surged by 30% last week. Deutscher believes that Sundog’s momentum is far from over. It has consistently outperformed other tokens in his portfolio, making it an intriguing pick for those seeking short-term gains.
Technical analysis indicates further growth potential for Sundog, and Deutscher is confident that excitement will peak if Sundog breaks its all-time high (ATH). Additionally, whale activity has surged, with $2.5 million in recent purchases signaling increased investor confidence. The token’s price has risen to $0.3597, supported by bullish indicators. Positive on-chain data, including $90.8K in short position liquidations, suggests that Sundog may continue its upward trajectory.
Zero (ZRO)
Zero (ZRO) is Deutscher’s top pick for interoperability plays. He highlights two key factors: the token’s relative market strength and the fact that no token unlocks will occur until July 2025, which could help maintain price stability. If ZRO manages to break above the $4 level, it could experience a significant rally to new highs.
Foxy (FOXY)
Lastly, Deutscher highlights Foxy (FOXY) as a slower burner compared to the other picks. Despite this, Foxy has shown a solid rebound from its lows. With its next resistance level 54% away from current prices, Foxy could gain momentum as the Linea airdrop approaches. This makes it an interesting candidate for long-term holders, with the potential to become a leading meme coin.
Are You Excited to Watch These Lesser-Known Coins Rise?
As the market braces for this week’s pivotal events, these lesser-known coins present exciting opportunities for growth. Whether you’re looking for short-term gains or long-term holds, these altcoins could offer substantial rewards based on their technical setups and fundamental strengths. Stay tuned and keep a close eye on these promising tokens.
