Analyst Shares Which Altcoins He’s Buying on the Dip: WIF, PEPE, and…

2024-10-26 11:00

Analyst Miles Deutscher highlighted promising altcoin buys amid a market pullback, focusing on assets with strong support levels. In a tweet, Deutscher shared his current picks, including WIF, PEPE, PRIME, and FTM, citing their recent price resilience. 

His strategy targets coins that demonstrated upward strength and now present buying opportunities at key support zones.

WIF Chart Analysis: Testing Support at $2.30

WIF’s price action reveals a downward trend, with recent lows nearing its critical $2.30 support level. This level has previously held as a reversal point, presenting potential buying interest if it remains intact. 

However, resistance remains near $3.30, where previous rallies have paused, suggesting a barrier on the path to further gains.

A descending trendline above the current price hints at a breakout opportunity if the price surpasses it. This could trigger a reversal for WIF, making a bounce off $2.30 an attractive entry signal for traders. However, if WIF breaches this support, it may face additional declines before finding stability.

Lots of alts look like decent adds today.$WIF, $PEPE, $PRIME, $FTM to name a few.

Prioritising alts that have showed strength over the past few weeks, and are now pulling back into key support zones.

Medium size for me today, saving capital in case there's another shakeout. pic.twitter.com/14V0Cjx4a6

— Miles Deutscher (@milesdeutscher) October 26, 2024 PEPE’s Horizontal Price Consolidation

PEPE, another coin on Deutscher’s list, has shown a consolidation pattern around $0.00000892, following a broader downtrend. With the price moving within this support zone, PEPE’s next resistance level sits near $0.00001000. 

The coin’s price action is forming a wedge pattern, suggesting a possible breakout if it surpasses this level.

PEPE’s support consolidation implies a level of stability, which may attract buyers if it holds. Traders may watch for a potential move toward the $0.00001000 resistance, yet a breakdown below $0.00000892 could indicate further downside risk.

PRIME’s Sideways Movement at $7.18 Support

PRIME is currently in a sideways phase, hovering around a $7.18 support zone after a previous decline. This area has historically demonstrated strength, holding as a pivot for short-term rebounds. 

If PRIME’s support holds, it may provide a foundation for upward momentum, with $8.50 as a potential target level. This demand zone is essential to PRIME’s price stability. Traders might anticipate a possible reversal if the support holds. 

Conversely, falling below $7.18 could result in PRIME testing lower price regions, which Deutscher’s tweet suggests may be more attractive with added caution.

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FTM’s Key Level at $0.625

For FTM, Deutscher points to a $0.625 support level where the coin is consolidating. This base offers potential for a recovery rally toward $0.80 if buyers emerge. 

Similar to other assets, FTM’s current consolidation phase could signify a stabilization period before another price move. Should FTM hold above $0.625, it may present a favorable opportunity for traders seeking a rebound. 

Breaking below, however, may indicate continued bearish pressure, underscoring Deutscher’s strategy of measured buying with capital in reserve for further market adjustments.

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The post Analyst Shares Which Altcoins He’s Buying on the Dip: WIF, PEPE, and… appeared first on CaptainAltcoin.

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