🌎 Crypto Market Shifts to Greed

Cryptocurrency Market Sentiment Shifts to Greed, Altcoins Poised for Gains

The cryptocurrency market is experiencing a significant shift in sentiment, with the crypto fear and greed index reaching an extreme greed level of 86. This indicates potential gains in the near term, particularly for altcoins. The altcoin season index has also risen to 85, suggesting that most altcoins are underperforming Bitcoin.

Top Altcoins to Consider Buying and Holding

Several altcoins have shown promising technicals and are worth considering for investment. Here are a few top picks:

Chainlink (LINK)

Chainlink is the largest oracle in the crypto space, supporting major networks like AAVE, Compound, and Spark by bridging off-chain data to on-chain platforms. Its total value secured has surpassed $38 billion, with whales steadily accumulating the token. The Chainlink price has strong technicals, having moved above the upper side of the cup and handle pattern and forming a bullish pennant pattern. This pattern often leads to a strong bullish breakout.

LINK has also formed a golden cross on November 22, as the 200-day and 50-day Exponential Moving Averages flipped positively. With these indicators, LINK’s next target could be $40, representing a 73% increase from its current level.

Shiba Inu (SHIB)

Shiba Inu is another altcoin to watch amid heightened market greed. The token has moved above a critical resistance level at $0.00002942, completing a cup and handle pattern. SHIB has also formed a golden cross, suggesting further upside potential. It has broken above the first support of the Schiff pitchfork, while the MACD indicator is above the zero line, and the RSI stands at 65.

These technicals indicate that SHIB could rise further, with a target of $0.000045, up by 45% from its current level.

Pepe Coin (PEPE)

Pepe Coin, another popular meme coin, has also shown promising performance and could continue rising this year. It has formed numerous positive patterns like a bullish flag, a falling wedge, and a cup and handle. Pepe is also attempting to move above the year-to-date high at $0.000026, its highest swing on November 14.

By measuring the distance between the upper and lower side of the cup, there are signs that the coin will jump to $0.00002860 in the near term.

Tips for Investing in Altcoins

Conduct thorough research on the altcoin’s technicals, market sentiment, and potential use cases.
Set clear investment goals and risk management strategies.
Diversify your portfolio to minimize risk.
Stay up-to-date with market news and trends.