Popular analyst Michael van de Pope has shared a list of altcoins that could rebound stronger after the last dip. Meanwhile, the cryptocurrency market has been rocked by the recent correction as Bitcoin (BTC) tested $49,000.
Portfolio rebalancing is a go-to investment strategy for purposeful traders, especially during times of market volatility. To effectively manage risk, traders should diversify their investments into promising cryptocurrencies, develop a clear exit strategy, and maintain a systematic dollar-cost averaging approach.
Top Altcoins Recommended by Analysts as Market Attempts Recovery
Vanderpop looks at how altcoins are performing post-correction. He noted that Ethereum (ETH) DeFi has rebounded stronger than the Solana DeFi token, showing the potential of each ecosystem. He also said that the performance of meme coins, artificial intelligence, and defining categories are also worth noting.
“If you look at the data, you want to be positioned in the AI and DeFin, meme coins, or Ethereum DeFi space. That’s because as traders notice the tokens with the highest interest or the strongest rebound and start allocating to them, that momentum is likely to continue,” van de Pope explained.
Double Tensor (TAO)
One analyst predicts that TAO, an artificial intelligence-based cryptocurrency that has risen 70% from recent lows, will have the potential to increase by 5 to 10 times. The rise caught the attention of many traders. Michael van de Pope is not the only one who is optimistic, predicting further gains for the Bitensor token, as other experts also believe that the Bitensor token is a strong investment.
“If your goal is to significantly enhance your investment portfolio, TAO may be an attractive option. The current market capitalization is close to $2 billion, which reflects TAO’s strong performance and potential.
Meanwhile, TAO is a leader in artificial intelligence (AI), which has turned market sentiment from bearish to bullish. This change is due to growing global demand for artificial intelligence technology. The relative strength index (RSI) also remains above the 50 midpoint, indicating that the uptrend is maintained.
Yahweh
Michael van de Pope lists Aave as a promising asset, citing the massive accumulation in Bitcoin and the formation of highs in the USDT stablecoin as signs of growing bullish momentum. He considers the fact that Aave is bottoming out horizontally without prices falling significantly to be a strong indicator.
In addition to the optimistic technical outlook, Aave’s on-chain indicators are also showing positive results. Aave Blockchain’s total deposit volume (TVL) is approximately $11.5 billion, while its market capitalization is $1.4 billion. That valuation suggests significant upside potential, van de Pope said.
Evo
Michael van de Pope cited the forecast and pick markets, noting that AEVO is a promising stock. From a technical perspective, he noted bullish divergence on the Relative Strength Index (RSI), which indicates that the price is making higher highs relative to lower lows, indicating that bullish momentum is building.
Van de Pope also spotted a descending wedge pattern on AEVO’s 1-day chart, indicating a potential upside breakout. This pattern is widely known as a bullish reversal signal and is confirmed when the price breaks above the upper trendline. The profit target for this pattern is usually calculated by adding the maximum distance between the upper and lower trendlines and the breakout point.
This analyst does not have any projects on defined categories. Nonetheless, experts are already paying attention to Lumerin (LMR), Destra Network (DSYNC), AIOZ Network (AIOZ), STORX Network (SRX), and STORJ.
Despite skepticism over whether capital flows will occur, investors are actively preparing for altcoin season. Still, it’s safer to be prepared in advance than to succumb to the fear of missing out. Nonetheless, traders and investors should conduct their research.
