This week is critical for the crypto market as the first rate cut since 2020 is scheduled for Wednesday. According to analyst Miles Deutscher, several altcoins are poised for significant growth depending on market reactions.
Fantom (FTM)
Fantom (FTM) has already shown significant growth of 20% last week, outperforming cryptocurrencies like Bitcoin and Ethereum. Its strong performance is attributed to upcoming developments like the Sonic upgrade, which will enhance the network's speed and efficiency. Deutscher notes that a breakout above the $0.53 level could push FTM to $0.81, representing a potential 56% gain.
Mantra (OM)
Mantra (OM) also catches the analyst's attention, having shown a 27% gain last week. Known for its strong DeFi capabilities, Mantra is supported by a resilient community and has strong fundamentals. MANTRA (OM) is currently priced at $0.72, placing it at rank No. 126 in the global cryptocurrency market.
Sundog (SUNDOG)
Sundog (SUNDOG) saw a 30% surge last week, and Deutscher believes this trend may continue. Recent large purchases amounting to $2.5 million indicate increased confidence in the token. The current price of the token is $0.3597, and with favorable technical metrics and on-chain data, SUNDOG could maintain its upward momentum.
Zero (ZRO)
Zero (ZRO) stands out among interoperability-focused projects. Deutscher highlights two key factors: its relative market strength and the fact that no token unlocks are scheduled until July 2025, which could help maintain price stability. A breakout above the $4 level might lead to significant gains.
Foxy (FOXY)
Although Foxy (FOXY) may develop more slowly than others, Deutscher notes its solid rebound from lows. The next resistance is 54% away from current prices, and with the Linea airdrop approaching, FOXY has the potential to become a leading meme coin, making it interesting for long-term holders.
These five cryptocurrencies present interesting options to watch in the near future. How the market will develop depends on the anticipated rate cut.
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