A widely followed crypto analyst and trader is staying bullish on one altcoin thats been red hot for months.

The analyst pseudonymously known as Altcoin Sherpa tells his 205,800 followers on the social media platform X that Web3 project Internet Computer (ICP) still has more upside potential.

ICP: another coin that looks interesting to me setup-wise, bullish demand zone plus 200-day EMA (exponential moving average) on the four-hour that hasnt been tested in a while. I am considering longing this one.

Looking at his chart, the trader suggests ICP could bounce if it holds the 200-day EMA as support around the key level of $11.25.

ICP is trading for $11.14 at time of writing up more than 270% since its $2.99 close on October 19th.

Next up, the trader predicts that decentralized oracle provider Chainlink (LINK) will trade around its current price level in a consolidation phase before moving another leg up.

LINK is consolidating for the next move up, but I expect this to still just chill out for a while and continue to consolidate. Not expecting any big moves yet.

Chainlink is trading for $15.43 at time of writing, up more than 7% in the last 24 hours.

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Analyst Says Altcoin Thats Rallied Over 270% in Three Months Still Looks Bullish, Updates Outlook on Chainlink - The Daily Hodl

In the past week, Bitcoins price fell sharply from around $43K, approaching the $40K mark. This decline affected many altcoins, but emerging ones like Chainlink, ASTR, and BNB saw increased buying pressure as capital shifted from Bitcoin to these markets. Consequently, theres a growing demand for LINK, BNB, and ASTR, which could lead to their prices rising further in the upcoming week.

The market sentiment has turned bearish in the last week, influenced by significant sell-offs from large investors, which also affected the altcoin market. The altcoin dominance notably decreased from a high of 12.9% to 12.4%.

However, the crypto fear/greed index shifted from an extreme greed level of 76 to a more neutral 52, indicating a stabilization of the previously overheated market. This is a bullish sign for the market as this could bring a renewed buying interest. This change, along with Bitcoins reduced dominance, may provide an opportunity for altcoins to perform better in the upcoming week.

Bulls are aiming to increase their domination as they push LINK price toward the immediate Fib channel. However, efforts by bulls to initiate a surge for Chainlink face rejection as sellers are active above $16.5. As of writing, Chainlink price trades at $16, surging over 3.5% from yesterdays rate.

The surging 20-day Exponential Moving Average (EMA) at $15.5 and the Relative Strength Index (RSI) above the midline at 56 level hint that the market is more likely to move upward. If buyers aim to halt the ongoing correction, they need to push the LINK price above the $17.5 level. Doing so would negate any current bearish trend and could initiate a bullish rally towards $20, and possibly extend it further.

However, a drop below the moving averages will create intense selling activity. As a result, LINK price could drop further and consolidate within a bearish region of $13.

Astar price has been on an upward trajectory recently after gaining buying pressure near each resistance level for several days. However, a slight negativity is that the bears have successfully kept the price below the $0.18 level. As of writing, ASTR price trades at $0.175, increasing over 5.5% from yesterdays rate.

Should the buyers manage to push the price above the ascending channels resistance line, the ASTR price might surge to the $0.2 mark. A decisive break and close above this could signal the end of any bearish rally, potentially leading to further rises.

On the flip side, if the price declines from the 20-day EMA, it would indicate that the bears are still actively selling during price rallies. This could enhance the chances of the price dropping to the channels support line.

BNB price is consolidating around the 20-day Exponential Moving Average (EMA) of $315, but the bears couldnt keep the price lower than the 0.023 Fibonacci retracement level. Hence, buyers are attempting to send the price above the resistance line. Currently, BNB price trades at $313, surging over 0.13% from yesterdays rate.

If buyers manage to maintain the price above $320, the BNB price might test the resistance at $336. However, a rejection at $320 might plunge the price next week.

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Top Altcoins To Watch Next Week: Chainlink (LINK), Astar (ASTR), And Binance Coin (BNB) Show Increased Buying Confidence - Coinpedia Fintech News

In a market with many hoping for a bullish trajectory in the upcoming year, theres a growing interest in alternative options to Bitcoin and Ethereum. While these established giants may continue to shape the market, many crypto hunters are seeking more affordable and novel coins to diversify their portfolio.

Delving deeper into recent market trends and analysis, weve curated a list of noteworthy altcoins, exploring their innovative features and current standing from emerging contenders like ApeMax, introducing the revolutionary Boost-to-Earn staking model to projects like Sei and Celestia, addressing scalability concerns within the blockchain space.

Join us on a journey as we unveil the trending altcoins reshaping the blockchain landscape, offering insights into the standout innovations that could impact the market in 2024.

ApeMax (APEMAX): Launched in May 2023, ApeMax is a meme coin with unique utility features, accessible staking, and a community of over 10,000 holders.

Sei (SEI): The native token for the Sei blockchain, essential for gas fees, governance, and network resilience through staking.

Skale (SKALE): Addresses Ethereums scalability with parallel side chains for faster, cheaper transactions and modularity.

Manta Network (MANTA): Tackles Web3 scalability and privacy through interconnected blockchains on Ethereum and Polkadot.

Pyth Network (PYTH): Bridges traditional markets and blockchains, delivering real-time financial data to dApps with a unique first-party data sourcing model.

Launched in May 2023, ApeMax has gained traction as a meme coin with unique utility features. It boasts a unique Boost-to-Earn staking protocol allowing users to earn rewards, immediate token access for presale buyers, intriguing tokenomics for a fun staking experience, and a growing community of over 10,000 holders who have staked over 4.2 billion coins. ApeMax also challenges the norm in presales by eliminating lock-in periods and high minimums, allowing its users to have access to their tokens immediately after they join the presale. These features let the users in its platform utilize their tokens from the get-go. This combination of meme-appeal and utility has made ApeMax a noteworthy altcoin in the crypto space.

SEI is the native token powering the Sei blockchain network, specifically crafted to empower developers with a robust foundation for constructing efficient and secure decentralized exchanges. These versatile SEI tokens play a role in covering network gas fees, engaging in governance processes, and can be staked to enhance the overall network resilience.

SKALE tackles Ethereums scalability by offering parallel side chains for faster, cheaper transactions. Secured by Ethereums PoS, its modularity and zero gas fees make it ideal for building high-performance dApps.

4. Manta Network (MANTA)

Manta Network tackles Web3 scalability and privacy through two interconnected blockchains: a low-fee scaling solution on Ethereum and a privacy-focused identity chain on Polkadot. MANTA, with features like zero-knowledge proofs and non-intrusive compliance, allows developers to build high-performance dApps with enhanced user privacy

5. Pyth Network (PYTH)

Pyth Network bridges traditional markets and blockchains by delivering financial data to decentralized applications (dApps) in real time. Pyths first-party data sourcing model stands out, involving direct contributions from major market players like trading firms and exchanges.

Identifying the start of a bull run in any market, including crypto, is notoriously difficult because of market volatility and external factors. However, certain general observations may possibly suggest a shift towards price increases:

Since its launch in 2023, ApeMax has carved its niche within the meme coin realm. While its playful branding and astronaut mascot might suggest lighthearted fun, ApeMax has surprised many with its utility features, not seen in many meme coins. Here are some of its best features:

ApeMax has attracted a strong community of over 10,000 holders, with 9.4 billion tokens sold. The ongoing presale for ApeMax continues to attract interest.

Despite the recent market dip, the crypto markets energy has sparked speculation about the onset of an altcoin season. With many novel emerging altcoins innovating with new features and technologies, like ApeMax and Sei, many crypto fans are optimistic about the future of crypto.

However, the crypto market is volatile and as such, exercising caution and acknowledging the associated risks is crucial before engaging with any coin. It is important to always conduct independent research.

Its worth noting that ApeMax coins are unavailable in certain countries, including the US and Canada.

For those interested in acquiring ApeMax tokens, please refer to the official ApeMax website for a list of non-eligible countries to ensure compliance with restrictions.

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What Is The Best Altcoin To Buy Now? A Close Look At The Best Altcoins Before The Crypto Bull Run in 2024 (ApeMax ... - Analytics Insight

FxPro senior analyst Alex Kuptsikevicha projects Ethereums price could further dip towards $2,000, as the altcoin is down by over 8% weekly.

The crypto market is experiencing a period of subdued volatility, with the total market capitalization hovering around $1.6 trillion for the third consecutive day. Simultaneously, equity indices in the stock market have also significantly declined in the past 24 hours.

However, the impact on cryptocurrency investors has been minimal. Kuptsikevich thinks that the fall in stock values is seen more as a result of individual corporate stories rather than an indication of a global shift in market sentiment.

Bitcoin is benefiting from this consolidation phase, with its market share exceeding 50% once again. On the other hand, Ethereum has found itself at the lower end of the consolidation range, which it has been in for most of December. Kuptsikevich predicts that Ethereum is showing signs of possibly dropping to the $2,100 area, a level that marked the upper end of its November consolidation phase.

Kuptsikevich suggests that a further decline towards the $2,000 mark is possible, citing the cryptocurrency markets inherent volatility. This potential dip could mirror a similar retracement in Bitcoin to the $37,500 level.

The SEC has also delayed its decision on BlackRocks application for a spot Ethereum ETF until March 10. While some experts remain optimistic about the ETFs approval by May, with a probability of 50-to-70%, others are wary of regulatory resistance.

The introduction of spot Bitcoin ETFs in the U.S. has broadened the appeal of cryptocurrencies to a wider audience. According to the head of institutional at Coinbase, this marks a potential shift towards mainstream adoption of digital currencies.

However, the influx of new capital into new cryptocurrencies is expected to be a gradual process, unfolding over months or even years.

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Analyst projects Ethereum potentially to $2k amid market consolidation - crypto.news

An Ethereum (ETH)-based altcoin is exploding in value after ETH founder Vitalik Buterin said the project is vital to the crypto ecosystem.

Buterin tells his five million followers on the social media platform X that all layer-2 (L2) projects should integrate with Ethereum Name Service (ENS), a platform that lets users buy a domain name on the Ethereum blockchain rather than using default addresses.

The domain names on ENS can be used to transfer and receive funds instead of using alphanumeric wallet addresses.

Says Buterin,

All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable and readable directly on L2s. ENS is super-important, it needs to be affordable!

According to data from blockchain data platform Dune Analytics, there are about 2.14 million active ENS names and more than 801,000 unique participants.

Layer-2s, such as Optimism (OP) or Arbitrum (ARB), are built on top of Ethereum to improve scalability and costs.

CCIP, or cross-chain interoperability protocol, is a protocol that allows for the resolution of information on or off-chain from the Ethereum Virtual Machine (EVM).

In the past 24 hours, ENS was trading at a low of $8.88. After Buterins social media post, ENS soared to $14.20, a nearly 60% gain. ENS has since given up some of those gains and is trading for $12.82 at time of writing.

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Ethereum-Based Altcoin Explodes As Vitalik Buterin Says Project Is Super Important - The Daily Hodl