The crypto analyst Ran Nuener researched the potential of top altcoins and concluded that the relatively novel cryptocurrency Pepe has been pumping significantly, indicating its higher potential for stable growth. According to his findings, the altcoins including Stacks (STX), Solana (SOL), and Avalanche (AVAX) are also on the right track, exhibiting multi-ranging trends and exhibiting better opportunities.
In Nuener’s list of top altcoins, the popular memecoin Pepe established a firm position with its remarkable performance. The analyst asserted that Pepe is a “high-risk, high-reward gamble”. In addition, he pointed out that though Pepe trade involves some risky elements, its surge could continue, “especially if Bitcoin reverses its course”.
Among the next scrutinized altcoins were STX, SOL, and AVX. Nuener noticed that STX has been significantly exhibiting a head and shoulders pattern; it owns a target price of 457 and then $32.
Though Solana has been experiencing a bearish trend for the past few months, the traders could be optimistic about the current level where the price stands at $21.95. While talking about AVAX, the analyst warned that it “might struggle to break through resistance levels”.
Next, the researcher analyzed the LINK, the cryptocurrency owned by Chainlink, the blockchain oracle network built on Ethereum; the altcoin has been targeting the bottom of its range at $5.45.
While narrating about the potential of THORNChain’s RUNE, the analyst commented that currently, the coin is at a remarkable level. However, he pointed out that as RUNE exhibits a downtrend, it could be led to a catastrophic level. He added that Dogecoin too would possibly go down in its track.
Notably, Nuener notified that Cosmos (ATOM) would also fall if the market collapses, despite the current appreciable level. The altcoin that the analyst talked about next was Vulcan Forged (PYR) which approaches a “diagonal trend”, potentially dropping to $2.90.
Finally, the analyst affirmed that Near Protocol (NEAR) would be suitable for long-term accumulation as the current lows would hold for an extended period.