As the crypto market experiences recent declines, many investors are questioning which altcoins could prove beneficial for investments. This analysis provides traders' opinions on various token prospects.
Cardano and Solana: Testing Key Levels
Cardano (ADA) has returned to the $0.86 level, which has acted as both support and resistance. Analysts suggest that holding this range could spark a new uptrend once Bitcoin strengthens.
Meanwhile, Solana (SOL) has shown resilience between $175 and $182, where buyers have been consistently stepping in. If momentum builds, experts see a possible path toward $300 in the coming months.
Dogecoin, Injective, and SEI: Undervalued Opportunities
The trader also spotlighted Dogecoin (DOGE), which is currently trading in a wedge formation. He believes a breakout here could trigger a parabolic surge to $0.24, driven by community excitement.
Injective (INJ) is another token on his radar, sitting close to a key trendline that could push it back toward $13.
As for SEI, he highlighted its breakout from a long bear market range. With $0.29 now acting as support, he expects a potential rally toward $0.75.
AVAX, Chainlink, and Rising Gaming Tokens
In the trader's view, Avalanche (AVAX) is also a strong contender, trading at trend support with the potential to recover above $28. Meanwhile, Chainlink (LINK) also stands out, with a strong support near $21 and a long-term target of $60.
For the gaming sector, the trader is especially bullish on Beam (BEAM), describing its setup as a 'bull flag' that could deliver 200-300% gains, possibly lifting it toward $2.60.
The analysis of the crypto market indicates that despite the current downturn, some altcoins may become attractive for investors in the near future. Keep an eye on developments.
