Industry experts have picked five altcoins to watch out for in 2024. They include Solana, Ethereum, Injective, Toncoin, and Angry Pepe Fork. Solana (SOL) Price Prediction
Solana (SOL) is currently trading between $124 and $162 on the monthly time frame. Its market cap consolidates between $55 billion-$75 billion.
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Looking ahead, the Solana coin faces resistance at the 200-day SMA ($146.53), a point it must cross to reach the $150 region. KazTheShadow is one analyst who is bullish about Solana coin. The analyst expects the value of the cryptocurrency to bounce to $140-150 in the coming weeks before rising to $230. On the other hand, KazTheShadow says a price plunge below $120 could invalidate the Solana price prediction.
Another analyst, DudeNotReally, is also optimistic about Solana. They tweeted a chart that showed the Solana price soaring to $235 in the coming weeks after the Fed rate cut. According to DudeNotReally, the cryptocurrency has support at the $134 region and resistance around the $195 region.
Ethereum (ETH): Analysts still bullish despite high ETH ETF outflow
Ethereum (ETH), the flagship altcoin, has been under bearish pressure over the past few weeks, with many whales offloading their holdings. Data from CoinMarketCap shows that the Ethereum price is trading below the 50-day SMA ($2,645.36) and 200-day SMA ($3,144.62). Its market cap is consolidating between $260 billion and $340 billion in the monthly time frame. The sell-off experienced by Ethereum crypto can be attributed to the poor reception of Ethereum ETFs by institutional investors.
Data shows that Ethereum ETFs have experienced net outflows of more than $581 million. Also, investors hold $6.62 billion in total net assets, which is very small compared to spot Bitcoin funds, which amount to more than $54 billion.
Yet, analysts are still optimistic about the Ethereum price and hope for a turnaround before the year ends. Phoenix_Ash3s believes that the ongoing bear market is a trap and remains bullish about the Ethereum crypto. The analyst posted a chart on X, which showed the value of the cryptocurrency soaring to a peak of $3,500 over the coming weeks.
Injective (INJ) price forecast
Per a recent tweet from iryna_everstake, the Segment Lead at Injective, network activity on the Injective network has increased recently. The total number of transactions has soared to 943 million, drawing closer to a new peak of one billion.
The injective price is currently bullish on the weekly and biweekly timeframes. The cryptocurrency is trading below the 50-day SMA ($18.89) and 200-day SMA ($26.79), a sign that bears are in charge of the market.
Still, analysts are bullish about the altcoin this year. Mammontrading forecasts that the injective price could increase over the coming months to $21. However, the analyst says that injective coin must retest the grey region at $16-$17 before it can start an uptrend, which could take it to the $21 region.
Another analyst, SatoshiFlipper, told followers that the injective coin could end his consolidation in the next few weeks. If this happens, they believe the value of INJ might drop to $52 in the coming months.
Toncoin (TON) hits new milestone; see TON prediction
Toncoin (TON) has been attracting a lot of attention in the crypto market since its integration into Telegram. Data from CryptoQuant reveals that the value of USDT on TON has reached $729M USDT in the past four months.
However, the Toncoin price has yet to break out of the bearish grip it fell into since it fell below the $6 mark. According to CoinMarketCap, the value of the Toncoin crypto is showing mixed sentiment: loss on the monthly time frame and gain on the weekly level.
The coin faces resistance at the 200-Day SMA ($5.54) and 50-Day SMA ($5.97). Crypto_Fayz forecasts that the Toncoin price could pump to $7.20 over the coming weeks. LSDinmycoffee too told his followers the price of the cryptocurrency might surge to $6.48.
Another analyst, CryptoKnight, shared a more bullish forecast, posting a chart that showed the value of the Toncoin crypto rising to a peak of $14 before the end of this year.
Angry Pepe Fork: The new project to watch in 2024
Industry experts have identified the next altcoin that has potential. Itsname is Angry Pepe Fork (APORK). Angry Pepe Fork is a community-driven project where everyone gets to earn collectively as a group, and also individually.
The objective of the platform is to conquer dead memecoins by implementing the ‘conquer-to-earn’ mechanism. Consequently, members are given medals as a token of recognition. Community members can also get free coins if they participate in quests and competitions.
Besides this, Angry Pepe Fork has a special tokenomics, a maximum circulation of only 1.9 billion coins. This scarcity model may result in more price increases over the coming months, making it a good altcoin to watch.
Analysts believe that Angry Pepe Fork is the next Dogwifhat rival and will conquer all other memecoins in the market. They believe its price could increase by up to 350% before the year ends. APORK is currently priced at $0.02518, making it a great buy for every investor.
The five altcoins to watch out for this year are Solana, Ethereum, Injective, Toncoin, and Angry Pepe Fork. Analysts expect their prices to increase over the coming weeks.
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