Miles Deutscher, a crypto analyst, shared his views on altcoin projects that caught his attention next week. In an article on X, he begins by noting the market’s recent recession and argues that this phase creates new opportunities for savvy investors. Deutscher also emphasizes the importance of being informed and prepared to benefit from these changes. Here are the details…
The best altcoin projects to watch this week have been announced
Injective (INJ) is experiencing an exciting recession, but that shouldn’t undermine its strong performance throughout the year, according to Deutscher. Deutscher believes that INJ could reach local tops at $19 if the bullish momentum continues. “When he runs, watch him closely because he runs hard,” says Deutscher, underscoring the potential for quick gains.
On the other hand, Deutscher focuses on Pyth Network. He points out that PYTH is in an interesting position with its features preferred by the market. He says PYTH is a shiny new coin with low volatility and perpetual contracts. However, competition from other Solana tokens such as Jupiter and JITO may temporarily divert attention. For those who already own PYTH, Deutscher recommends holding on but not adding more unless the price drops.
There is hope for SUPER, ATOM too
Altcoin SUPER is part of the trending gaming narrative and is attracting the attention of notable creators and influencers. Deutscher sees the potential for a FOMO-driven price increase despite its volatile funding. “This could be one of those ‘it’s already up too much, I’m not buying’ games,” he predicts, suggesting late buyers could push the price even higher.
Weekly Token + Narrative Watchlist 🔎
The market is experiencing a much-needed cool off, creating many new opportunities.
Here are some of the altcoins I'm watching closely this week.👇$INJ: In the midst of a variety of other narratives performing, the INJ hype has quietened… pic.twitter.com/VJy15j4yLK
— Miles Deutscher (@milesdeutscher) November 27, 2023
Deutscher also noted Cosmos. As we reported as Kriptokoin.com, the recent approval of the ATOM Halving proposal is an important development for Cosmos. This change will potentially impact ATOM’s price movement (PA) by reducing the maximum inflation rate from 20% to 10%. Deutscher is watching this closely for signs of a developing trend.
DYDX and these 3 coins are among the ones to watch
The launch of $524 million worth of DYDX on November 28 is a momentous event, especially since these tokens will be launched on the DYDX chain, which is not supported by centralized exchanges (CEXs). Deutscher predicts a complex interplay of market psychology around this event. “We will watch to see if the head and shoulders formation continues,” he said, pointing to possible price movements after the unlock. On the other hand, SOL’s struggle to break through $58 has been noted by Deutscher and has been placed in a “no-trading zone” for now.
However, a breakthrough could lead to significant gains. BONK, a Solana-based meme coin, is also on Deutscher’s radar due to its high volatility and correlation with Solana’s movements. Finally, Deutscher emphasizes that the significant volume growth on Vertex has surpassed DYDX and Uniswap. Despite wash trade skepticism due to low open interest (OI) compared to volume, he sees potential in Vertex and constantly perceives a resurgence in the popularity of decentralized exchanges (DEXs).
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