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Despite showing intentions to break below a narrow range, the price of Bitcoin continues to stay above $29,700. The fact that the price is stuck between $30,400 and $29,700 and the range is narrowing further tells us one thing. Volatility will likely increase again in an impressive way soon. So, which altcoins will be profitable if the direction is north?
Dogecoin (DOGE)
Cryptocurrency analyst Tolberti recently issued an important warning about a potential upcoming bull run. He mentions 5 altcoins, with DOGE, the king of meme coins, taking the first place. Despite having multiple catalysts supporting it, Dogecoin (DOGE) has been experiencing sideways price movement in recent weeks. The performance of DOGE is influenced by the overall market sentiment and its connection to Elon Musk. Historically, whenever Musk mentions or talks about DOGE, we have seen significant rallies.
In the coming days, we will see Twitter turning into the X App. In this environment, DOGE can potentially reverse its direction with various speculations. In the short term, $0.1 remains the first major target. If this level is confirmed as support, we may see an impressive rally above $0.3.
IoTeX (IOTX)
The value of IOTX is closely related to the increasing demand for secure and scalable IoT solutions. IoTeX positions itself as a leading blockchain that offers a transformative platform for the future. Its ability to seamlessly integrate with IoT devices and facilitate secure and efficient data transfer and communication is particularly noteworthy.
In the short term, it can aim for the same target as DOGE if it breaks through the $0.05 resistance.
Fetch (FET)
The partnership with Bosch was quickly forgotten, but artificial intelligence is still on the agenda. This indicates that the price can revive with the advancements in the field of artificial intelligence, in addition to the general market sentiment improvement in the coming days. Elon Musk has been working on AI recently, and xAI news has contributed significantly to him. The excitement can reach its peak again at the intersection of AI and the X App. This will probably have a positive impact on the price.
Litecoin (LTC)
While continuing to be one of the leading cryptocurrencies in the market, Litecoin (LTC) is supported by positive sentiments surrounding the upcoming halving, which is expected to take place within a period of less than two weeks. Although LTC is sensitive to market downturns, the overall sentiment maintains an upward trend.
The network reached a historic milestone by completing its 170 millionth transaction on July 15. This indicates rapid growth for Litecoin; more than 10 million transactions have been added in just the past seven weeks, meaning over a million transactions occur each week. Remarkably, Litecoin has managed to operate continuously without any interruptions for over 11 years. Unlike previous halvings, this time it could push the price upwards.
Cosmos (ATOM)
ATOM comes last on the list shared by Tolberti. Cosmos (ATOM) is a blockchain platform that aims to create an interconnected ecosystem of independent blockchains. Recently, the token has defied the overall trend in the crypto market and shown upward tendencies. Market analysts are optimistic and believe that ATOM is ready to surpass the $10 mark.
The future will be multi-chain, and Cosmos has been preparing for it for years.
