Top Altcoins to Watch After Recent Dip: Analyst’s Picks

Renowned analyst Michael van de Pop shared a list of altcoins that could rebound strongly after the last dip. This comes as Bitcoin (BTC) tests the $49,000 depth as crypto markets bear down on the recent correction.

Portfolio rebalancing is a preferred investment strategy for deliberate traders, especially during periods of market volatility. To effectively manage risk, traders should diversify their investments across promising crypto narratives, develop a clear exit strategy, and maintain a disciplined dollar cost averaging approach.

The analyst chooses the highest Altcoin as market recovery attempts

Van de Pop looks at how altcoins are doing after the correction. Ethereum (ETH) notes that Defi is developing more than Solana's Defi tokens, which shows the potential of the respective ecosystem. It also observed a commendable performance among the meme coins, AI and DePIN categories.

If we are looking at the data, do you want to sit on AI and DePIN, meme coins or do you want to sit in ETH DeFi. “You want to get into the big move because traders are looking at the professional coins or the strongest coins and when they start allocating to those, those are likely to continue,” van de Pop said.

Bittensor (TAO)

One analyst predicted 5 to 10X potential for TAO, an AI-driven crypto coin, following its recent 70% rally. This increase has attracted the attention of many traders. Michael van de Pop is not alone in his optimism; Other experts also consider Bittensor token as a solid investment and generate additional profits.

“If you're looking for significant growth in your portfolio, TAO may be a compelling choice. Currently, its market value stands at an impressive $2 billion, which reflects TAO's strong performance and potential,” said Lucky Bitcoin Investor.

Meanwhile, TAO is the front runner for the artificial intelligence (AI) sector, which has turned market sentiment from bearish to bullish. This change is due to the increasing demand for AI technologies worldwide. The Relative Strength Index (RSI) remains above the 50 midpoint, indicating that bulls are in control.

Read more: What is Altcoin Season? General guidance

AAVE

Michael van de Pop pointed to AAVE as a promising asset, noting significant accumulation in Bitcoin and a high in USDT stablecoin. He notes that AAVE has been in a horizontal consolidation, with no significant depreciation, which is a strong indicator.

Beyond the funky technical point of view, on-chain parameters are also suitable for AAVE. The Aave blockchain boasts a total value locked (TVL) of around $11.5 billion against a market capitalization of over $1.4 billion. According to van de Pop, this assessment shows significant upside potential.

Notably, Aave DAO recently launched its first $100 million product loan with key partners. A move that shows how tokenization and blockchain technology is changing the supply and management of bonds and securities could bode well for the AAVE token.

Aevo

Michael van de Pop also points to the forecast and the options market, highlighting AEVO as a promising buy. From a technical point of view, a significant divergence has been observed in the Relative Strength Index (RSI), with the RSI showing higher lows relative to the lower highs of the price, indicating bullish momentum is developing.

Van de Pop revealed a falling wedge pattern on AEVO's one-day chart, indicating a potential upside. This pattern is considered as a bullish reversal signal confirmed when the price breaks above the upper trend line. The profit target for this pattern is typically calculated by adding the maximum distance between the high and low trend lines to the breakout point.

Read more: 11 Cryptos to Add to Your Portfolio Ahead of the Altcoin Phase

The analyst has no projects on his radar for the DPin category. However, experts are already looking at Lumerin (LMR), Destra Network (DSYNC), AIOZ Network (AIOZ), StorX Network (SRX) and Storj (STORJ).

Investors are actively preparing for the altcoin season, even if they are skeptical that capital flows will occur. However, getting ahead of things is a safer option than succumbing to the fear of missing out. However, traders and investors should also do their own research.