As the cryptocurrency market continues to evolve, the emergence of new altcoins has become a frequent occurrence. Navigating this expanding landscape and identifying the most promising investments can be a challenging task. However, for our readers, we have curated a list of five altcoins that are worth keeping a close eye on in July 2024.
Toncoin (TON)
The Telegram token Toncoin has been one of the best-performing assets in recent months. The altcoin has not only reached a new all-time high at the beginning of June but is also close to establishing a new one. Currently trading at $7.6, TON could be making a move to invalidate the existing all-time high of $8.2 and push beyond $8.5. The existing uptrend line has been consistently tested and has remained unbroken, cementing it as a support floor. However, if the uptrend is broken, Toncoin’s price could experience a drawdown to $7.
Notcoin (NOT)
Another Telegram token that deserves attention is Notcoin (NOT), the native token of the web3 game based on Telegram. Notcoin surprised the market with a 317% rally soon after its launch. While the past few days have not been very fruitful for the altcoin, NOT managed to break past the downtrend line this week. If this momentum is sustained, the altcoin could begin reclaiming the lost profits by reaching $0.020, up from the current trading price of $0.015. Conversely, losing the support of $0.013 could result in the invalidation of the bullish thesis and extended losses.
Solana (SOL)
Solana’s price has been driven primarily by institutional interest in the last couple of weeks. The CoinShares report highlighted that as of June 21, SOL had noted about $3.3 million worth of inflows, surpassing 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. However, a failed breach could bring it down to $126, which has been 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 break through $0.184 first. Flipping it into support would provide KAS with the necessary boost to establish a new ATH. However, history could repeat itself, as KAS has failed to close above this resistance three times in the last four months, potentially leading to consolidation 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, with its price rallying by more than 132% during the first week of June before correcting. The all-time high for BRETT is $0.195, and the meme coin could breach this level. Considering the hype and demand surrounding the altcoin are still high, it could benefit from this. However, the volatile nature of meme coins introduces the risk of a drawdown to $0.140, which would invalidate the bullish thesis.
Remember, investing in cryptocurrencies carries inherent risks, and it’s essential to conduct thorough research and analysis before making any investment decisions. Stay informed, and good luck with your crypto endeavors!
