Altcoins showing relative strength amid the latest cryptocurrency correction are likely to hit record highs for the first time this year, a closely watched analyst said.
Analyst Jason Pizzino told his 108,800 followers on social media platform X that he is keeping an eye on the bullish altcoin.
“Powerful altcoins continue to maintain higher lows. “If this level holds, we could see the first new fresh highs and/or all-time highs in the second half of 2024.”
In a video update, Pizzino said that he has compiled a list of altcoins that are performing better than others during the cryptocurrency correction. But he says there are two things that stand out.
“There are some that are a little stronger… Solana is definitely one of them… Pendle is still above 50% and has a reasonable weekly close above 50% at $5.60.”
According to Pizzino, the current altcoin crash is giving long-term investors another opportunity to invest in good projects in anticipation of a rebound later this year. Traders highlight that while big declines have occurred in the past, powerful altcoins tend to post huge gains once things calm down.
“It’s happened before. We eventually got there. I think Solana is really good. If you don’t believe her, look back at some of the charts she’s seen down 80% over a 4-6 month period and see how the charts were booming back then. And that boom could last for quite some time.”
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney