Popular Analyst Picks for the Upcoming Altseason

The latest altcoin season chart on CoinMarketCap has a score of 50/100, which is right in the middle. This shows that the market is at a state where things can go in either direction, with most leaning toward altcoins gaining traction due to Bitcoin pulling back from its all-time high and analysts stating that BTC could reach new lows in the coming month. AlphaBTC, for instance, posted his views on X, highlighting that the EMA suggests the Bitcoin price could break down into the five-digit territory.  On the other hand, altcoins have surged in value by a massive degree, especially since the Ethereum price reached its all-time high a few days ago.So, which are the top altcoins this season?  Popular crypto analyst, Ali Charts has given insight into two of them.

Toncoin (TON)

Toncoin price is currently trading around the $3.12 level and has a market capitalization of more than $8.03 billion. In the last 24 hours, however, it has lost about 0.11% in value, showing its price is consolidating.

So, why has Ali Martinez picked Toncoin as one of the leading assets to watch this altcoin season? It is because of the symmetrical triangle pattern. Ali states that Toncoin could move 50% from its current pattern. However, since the pattern formed is symmetrical, it is not clear whether momentum will be upward or if investors should brace for a downside.  Regardless, the pattern is interesting, and intraday traders should consider buying some to capitalize on whatever comes next.

At the time of writing, TON’s price is below its 50-day MA. If the crypto continues to trade below that level, investors should expect a 50% drop, especially since the RSI is edging into the oversold zone.

A move above the upper edge of the triangle could push the TON price toward a 50% upside from the current value. However, this would require crossing the $3.4 level, which currently acts as Toncoin’s most crucial resistance.

Ecosystem-wise, the only thing that TON has to look forward to is its upcoming listing on Robinhood. This could be a major factor contributing to its potential upside move. But in terms of technicals, there is not much happening. Still, it remains a good asset to pick to diversify one’s portfolio.

Injective (INJ)

Another crypto that has become one of the top picks for analysts is Injective. It is currently trading above the $12 level, and its market cap is above $1.27 billion. Although Injective price has experienced a surge of only 0.29% in the last 24 hours, the overall pattern has created an ascending triangle, as pointed out by Ali Martinez.

The ascending triangle has created a bearish pattern. However, considering this is priming the crypto to break down around $8, those who want to short INJ can dive in. On the other hand, this could become a good “buying the dip” opportunity at a later date.

There are not many conditions that could push its price upward after the bottom happens at the $8 level. However, the only aspect newsworthy right now is an ominous tweet by Injective’s official X channel that said, “Big week ahead.” The speculation caused by this could provide traction to the token in the coming days.

Moonshot Magax (MAGAX)

The third pick of the day is Moonshot Magax (MAGAX). Currently in presale, this meme coin project has raised upwards of $50,000 already. From the looks of this early-stage project, it is presenting users with an AI-powered blockchain designed to reward viral content. While it has meme coin-like roots, it is a utility asset that has already received audits from CertiK.

This meme coin reportedly powers a creator ecosystem that helps users find high-potential assets as well as gain access to a Meme-to-Earn ecosystem. There is also a decentralized creator hub that could give blockchain developers scalable infrastructure to create their own interactive memetic experiences.

It will also detect viral memes for users to engage with, helping creators mirror their success. Staking perks are also provided, which makes it suitable for long-term upside.

Final Thoughts

The arrival of the altcoin season has opened the floodgates of possibilities. There are many top picks that users are banking on, and all of them come equipped with multiple upsides. Injective could be making a big announcement soon, Toncoin’s listing buzz is exciting the community, and Moonshot Magax (MAGAX) is offering an AI-driven meme coin ecosystem that lets users find, mirror, and monetize viral memes.

All of these picks could experience parabolic price action and could also deliver gains in the long term thanks to community support.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.