Watch Out for These Altcoins: NEAR, AVAX [AR], MetisDAO (METIS)
![Watch Out for These Altcoins: NEAR, AVAX [AR], MetisDAO (METIS)](https://media.askfx.com/assets/44774-watch-out-for-these-altcoins-near-avax-ar-metisdao-metis-1024x585.jpg)
CryptoBullet predicts that NEAR, AR, METIS, and AVAX will hit new all-time highs by 2024 based on current market trends.
Technical analysis supports a positive forecast, with rising altcoin trading volumes indicating growing investor interest.
As the cryptocurrency market continues its uptrend, led by Bitcoin [BTC] ‘s robust performance over the past few weeks, the global cryptocurrency market capitalization has reached approximately $2.5 trillion.
As a result, altcoins such as Near Protocol [NEAR] and Polkadot [DOT] have shown a strong uptrend. This bullish wave has generated optimism among investors and analysts alike.
Amid this positive momentum, CryptoBullet, a well-known crypto analyst, has predicted that four altcoins will hit new all-time highs (ATH) by 2024.
According to CryptoBullet, this period presents an excellent opportunity for investors to get exposure to certain altcoins that are currently undervalued but expect significant growth.
CryptoBullet’s strategy is to take advantage of the current low prices of these altcoins to capitalize on the potential explosive gains of the upcoming bull market.
The key to finding these promising investments lies in their performance compared to the Fibonacci retracement levels.
CryptoBullet identifies those altcoins that have tested or exceeded the Fibonacci levels of 0.618 or even 0.786 as prime candidates for breaking their ATHs.
NEAR, AR, METIS, AVAX set to surge
CryptoBullet particularly highlighted NEAR, Arweave [AR]MetisDAO [METIS]and Avalanche [AVAX] as altcoins with the potential to set new records.
Over the past few weeks, these altcoins have shown uptrends, with METIS seeing a slight decline.
However, despite a 0.9% decline over the last week, METIS has recovered and is currently up 2.9% over the last 24 hours, trading at $60.59.
This slight decline is considered a temporary adjustment before a potential uptrend.
On the other hand, NEAR and AR have shown stronger bullish momentum. NEAR is up 13.4% in the last week and 36.4% in the last two weeks.
Likewise, AR is up 10.5% in the last week and over 40% in the last two weeks.
In the last 24 hours, NEAR and AR are up 3.6% and 10.1% respectively, currently trading at $8.38 and $48.54, respectively, indicating a continued uptrend.
Avalanche (AVAX) has also shown positive trends, with a current trading price of $37.09, up 7% in the last day.
Meanwhile, the altcoin dominance, excluding the top 10, stood at 11.91% at the time of writing. The technical analysis of the overall altcoin market shows quite an interesting pattern. Realistic or not, here is AVAX’s market cap in BTC terms
The market recently showed a bullish dragonfly candle followed by a bullish engulfing candle closing above the dragonfly candle. This pattern suggested that further upside was likely.
Source: Tradingview
Furthermore, AskFX reports that altcoin trading volume dominance has reached 78%, the highest level in two years, indicating
growing investor interest in altcoins .
