5 Altcoins You Should Keep an Eye on in July 2024
The crypto market has grown immensely for some time now and continues to, resulting in the emergence of new altcoins every day. Filtering the ones in which you should invest your efforts and money has thus become a difficult task.
To make this easier, BeInCrypto has compiled a list of altcoins you should watch out for in July to take advantage of the market.
Toncoin (TON)
The Telegram token Toncoin’s price is among the best-performing assets in this quarter. The altcoin not only formed a new all-time high at the beginning of June but is close to establishing a new one.
Trading at $7.6, TON could be making a move to invalidate the existing all-time high of $8.2 to push beyond $8.5. The existing uptrend line has been consistently tested and remained unbroken to date, cementing it as a support floor.
Read More: What Are Telegram Bot Coins?
In the event that the uptrend is broken, Toncoin’s price could be noted to have a drawdown to $7.
Notcoin (NOT)
Another Telegram token that you should keep an eye out for is Notcoin (NOT). The native token of the web3 game based on Telegram, NOT surprised the market with a 317% rally soon after its launch.
While over the past few days have not been very fruitful for the altcoin, NOT managed to break past the downtrend line this week. If this is sustained, the altcoin could begin reclaiming the lost profits by reaching $0.020, up from the trading price of $0.015.
Read More: What is Notcoin (NOT)? A Guide to the Telegram-Based GameFi Token
On the other hand, losing the support of $0.013 could result in the invalidation of the bullish thesis and extended losses.
Solana (SOL)
Solana’s price has more to do with its demand in the last couple of weeks, which has been driven primarily by institutional interest. The CoinShares report highlighted that as of June 21, SOL had noted about $3.3 million worth of inflows.
This is higher than its competition, including Litecoin (LTC), Chainlink (LINK), and Ripple (XRP). If the altcoin breaches the resistance at $156, this could push SOL up from $144 to $169.
Read More: Solana (SOL) Price Prediction 2024/2025/2030
However, a failed breach could bring it down to $126, which has been cemented as a support floor in the last three months.
Kaspa (KAS)
Kaspa’s price could reach a new all-time high in the coming month, considering the altcoin has been maintaining its bullishness. The uptrend that began at the beginning of May has been sustained, and KAS changing hands at $0.177 could leverage this.
The current all-time high is $0.193, and in order to breach it, Kaspa’s price would need to breach $0.184 first. Flipping it into support would provide KAS with the necessary boost to establish a new ATH.
Read More: Kaspa (KAS) Price Prediction 2024/2025/2030
However, history could repeat itself since it has failed to close above this resistance thrice in the last four months. Consequently, Kas could end up consolidating above $0.162.
Brett (BRETT)
The meme coin, also known as PEPE’s best friend, has had an impressive run. Based on Coinbase’s BASE chain, the cryptocurrency has noted immense gains. During the first week of June, Brett’s price rallied by more than 132% before correcting.
The all-time high for BRETT is $0.195, and the meme coin could breach this. Considering the hype and demand surrounding the altcoin are still high, it could benefit from this.
Read More: 4 Cryptos That Could Hit New All-Time Highs in July 2024
However, knowing the history of meme coins and the volatility that comes with them, there is a chance that this breach could fail. As a result, a drawdown to $0.140 is possible, which would invalidate the bullish thesis.
The post 5 Altcoins You Should Keep an Eye on in July 2024 appeared first on BeInCrypto.