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Leading Trader Identifies 5 Altcoins – They Can Suddenly Rise!

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A well-followed cryptocurrency analyst says five major altcoin projects are showing positive signs as Bitcoin (BTC) tries to bottom out.

Five altcoins are showing strong signals, according to analyst Nicholas Merten

In a new video, Nicholas Merten says that the change in altcoin markets has begun and that Bitcoin is about to hit rock bottom:

We are entering a phase where Bitcoin sales have stalled. This means that we are in the mid-dollar cost zone. We can still lower the price of BTC by a few thousand dollars. But here we are typically in the 70% or lower range from ATH levels. At the same time, if we look at the macro environment, considering all these factors, we are probably running into a side capitulation.

Merten points out that XRP is starting to gain bullish momentum in the Bitcoin (XRP / BTC) pair. Sharing the graph below, the analyst states:

Here is an XRP that has been trading here continuously since June 2020. So here it is really on par with Bitcoin’s performance since June 2020.

The leading trader has identified 5 Altcoins

Nicholas Merten reviews my chosen altcoins in Bitcoin pairs

Merten then states that Binance Coin is also showing strength against BTC (BNB / BTC):

Against the bitcoin pair we have here BNB which remains on an ascending support line. Basically, it’s just a few percentage points off the highs of May 2021 or December 2021. So it’s not that fatal against Bitcoin here.

The leading trader has identified 5 Altcoins

Merten says Solana has also been bullish against Bitcoin (SOL / BTC) in recent weeks. In the graph below, the analyst evaluates how he is reacting Solana from this region:

There isn’t much talk about Solana here, but I have to give him credit here. It has risen about 76% from the lows here, from relative highs here, to 72% at the time of recording here.

The leading trader has identified 5 Altcoins

The analyst further notes that after Solana’s tough journey this year, AVAX’s price has seen a rise against Bitcoin (AVAX / BTC). According to the analyst, according to historical data, AVAX’s performance against BTC is remarkable:

Here we see a massive rebound in price from lows of around 50% versus Bitcoin. It is really exciting to see this.

The leading trader has identified 5 Altcoins

Uniswap surpasses major altcoin project this week

Finally, Merten takes a look at Uniswap, which outperformed Ethereum in the amount of gas it paid for. cryptocurrency.com As reported, Uniswap overtook Ethereum in terms of gas fees this week. The analyst points out Uniswap, noting the gains it has made against UNI / BTC in recent weeks. Mertan noted the following for the UNI / BTC chart:

One of the biggest DeFi players we’re talking about here. The UNI, meanwhile, makes a great rebound on the double bottom here, at over 87%. Earlier today it is climbing to around 94%.

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