coinedition.com
Crypto analyst Ran Neuner warns that investors have under eight weeks to buy their favorite altcoins. According to Neuner, Bitcoin is trading in an area of interest to watch out for, where he expects the price to pull back before bouncing off horizontal support.
An extensive analysis of the overall crypto market accompanied Neuner’s altcoin market prediction. The Crypto Banter YouTube channel host observed Bitcoin is in a consolidative movement and may continue in a sideways direction for a few more weeks.
Bitcoin must surpass significant levels for a bull run to begin, according to Neuner. The closest of such is the $32,000 Bitcoin price mark. He notes that despite the overbought sentiment existing in the Bitcoin market, things could change very quickly. However, he noted that the market will become more risky when the price approaches the existing all-time high levels.
Neuner believes the crypto market currently attracts minimal risk, making it ideal for accurate entry. In his view, this situation could last a few more weeks before the market picks up and the risk level increases substantially.
Using a combination of indicators, including the Bitcoin dominance metric and its divergence with the BTC stock performance, Neuner predicts that altcoins would rally aggressively by the middle of September. He expects the prices of several altcoins to increase, with the new coins leading the charge in percentage rallies.
Neuner identified many altcoins he expects to post remarkable returns when the rally begins. Among them is ETH, which he will lead the rally by bouncing off a 200-day moving average. Other altcoins identified by Neuner include SUI, BNB, CRV, RNDR, STX, UNI, and PERP.
The Crypto Banter host noted that he and his team have invested in most of the altcoins he mentioned while keeping a close watch on the rest for the next eight weeks.