21 April, 2024

Top 3 Altcoins to Trade in August: Crypto Expert Recommends Promising Choices

04 Aug, 2023

12 Feb, 2024

  • Crypto analyst CryptoMichNL recommends Injective Protocol (INJ) as a potential altcoin with strong momentum.
  • Chainlink (LINK) shows promise with its recent sweep of lows, potentially leading to a bullish breakout.
  • Dogecoin (DOGE) could experience upward movement, with potential implementation within Twitter’s new ecosystem.

As the cryptocurrency market enters the summer, investors keep a keen eye on potential altcoin opportunities. In a recent YouTube video by CryptoMichNL, the popular crypto analyst share insights on the top three altcoins he believes could provide exciting trading prospects for the upcoming month.

CryptoMichNL pointed out that while the market may seem slow during the summer, there are still opportunities to capitalize on specific altcoins. The expert encouraged viewers to join the InvestAnswers premium or public Discord channels for more exclusive content and access to his trade IDs and results. These channels showcased impressive returns over the past few months, enticing potential followers to benefit from his successful strategies.

The first altcoin that CryptoMichNL is enthusiastic about is Injective Protocol (INJ). This altcoin has been showing strong momentum over the past six months and is currently within a bullish cycle. INJ’s recent price action and well-defined accumulation structure suggest that “buy the dip” strategies might favor traders. According to the analyst, key entry points for INJ lie around $5.40 to $7, with the potential to aim for new all-time highs if certain levels are breached.

The second altcoin of interest is Chainlink (LINK), which has been stuck in an accumulation period for around 450 days. However, with a recent sweep of lows and reclamation of key levels, CryptoMichNL sees potential for a bullish breakout. Traders are advised to watch the $6.75 level as an essential trigger for higher lows, with potential price targets around $11.

Lastly, Dogecoin (DOGE) makes it onto CryptoMichNL’s list due to its correlation with market sentiment and recent trends. The analyst believes DOGE is gearing up for another upward move, especially with the potential implementation of digital tokens on Twitter’s new ecosystem, where DOGE could play a significant role. Key entry points for DOGE are expected around $0.07, with potential targets around $0.10.

The video by CryptoMichNL provides valuable insights into these altcoins, making it a valuable resource for traders seeking potential opportunities in August.


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