Miles Deutscher has kicked off his weekly series, highlighting the top five cryptocurrencies he’s been keeping a close eye on. These picks are a mix of technical setups and fundamental insights, which are crucial for traders and investors looking to stay ahead of market trends.
Bitcoin at a critical level of $53.5K
Miles is keeping a close eye on Bitcoin’s price movements and notes that it has reached a critical point at the $53.5K level. This price point is crucial and acts as a strong support level. If Bitcoin manages to hold its ground from here and reverse upwards, it could be the start of a new bullish trend. However, if it collapses, further downside can be expected. Currently, the signals are leaning towards a possible reversal, but all eyes are on how Bitcoin reacts in the coming days.
Solana – Facing the “Final Boss” Level
Solana is approaching a key resistance level, called the “final boss” by analyst DocXBT, one of the lead analysts in Deutscher’s group. This level is important for Solana’s price movement. If it manages to break through this resistance, it could lead to a new bullish upward movement. So far, Solana has held strong and maintained its position, but the coming days will be decisive in determining whether it can overcome this major hurdle.
Fantom – Preparing for a major rebranding
Fantom is an exciting project to keep an eye on, especially given its rebranding to a new platform, Sonic Labs. These events are expected to draw more attention to Fantom, driving its price higher. FTM’s price action is showing bullish signs, with the $0.40 area reclaimed and a higher low formed. The daily RSI and MACD indicators are also positive, with both rising above the key 50 and 0 levels. The $0.55 level is a crucial resistance that Fantom needs to reclaim, and if it does, it could quickly surge towards $1. The anticipation surrounding these updates makes FTM one of the most interesting plays in the market right now.
SunDog – Leads the Meme Coin Rally
Miles Deutscher praises SunDog’s chart as “one of the best altcoin charts in crypto right now,” highlighting its impressive performance even as other tokens struggle. He notes that SunDog recently broke above its range high, suggesting that the real excitement could begin if it surpasses its all-time high, signaling further bullish potential. He believes that while this is a positive sign, the real excitement for SunDog will come when it breaks through its all-time high (ATH), potentially leading to even bigger gains.
Mantra DAO – Silent strength in a weak market
While many altcoins have been trending down and making lower lows, Mantra DAO has bucked the trend by making higher lows. This shows the relative strength of OM compared to other assets. It is consolidating just below its all-time highs and the key level to watch is $0.95. If OM can reclaim this level, it could open the door for a strong push towards its previous highs and possibly beyond.
We’re excited to discover these top picks, are you?
