The new quarter has started with a collective altcoin recuperation as Bitcoin strives to stay above $60k. For several reasons, SOL, AVAX, and DOGE have emerged as the most promising altcoins.
SOL is technically and fundamentally primed for a rally
While the Solana network has been experiencing network congestion due to the extreme load-included RPC network problems, the asset remains an attractive altcoin at this time.
Fundamentally, SOL could benefit from the recent judicial ruling for Cryptocurrencies. One analyst explains why the asset is poised to soar to new levels.
“Update on SOL: Now that the FTX Group stake is in the hands of Mike Novogratz and Dan Morehead, and the US judicial system has a precedent that crypto is not a security, it will be sent to the moon, where it belongs,” he wrote.
Technical indicators also position SOL as a promising altcoin. Notably, crowd sentiment for SOL has not dropped since the Solana network outage recorded in February.
At report time, SOL is trading for $140.91, with its monthly gains still intact. The asset could continue to $200 if the current trajectory is maintained.
AVAX bulls prepare for an upward recovery
Avalanche (AVAX) is one of the few altcoins in the stable zone now. However, the altcoin’s price performance can be connected to its recent rebound. Data from CoinMarketCap shows a 3.5% daily price increase in intraday trading, hinting at a decline in selling pressure.
Market players like investors and traders might be on the verge of experiencing a bullish reversal as bulls prepare to reclaim the $40 price point above the 50-day exponential moving average (EMA).
As displayed on the 4-hour chart, the AVAX altcoin has maintained an uptrend; although slow, the gradual build-up of the movement could result in a rally.
It appears that bullish sentiments surrounding AVAX are progressively turning positive, as the chart depicts an increase in buying pressure.
At report time, AVAX is hovering at the $34.52 price level as bulls attempt to clear off mild weekly losses.
DOGE outperforms Bitcoin and other leading altcoins
Dogecoin (DOGE), one of the best-performing altcoins on the list, has also emerged as a top gainer in the top 10.
Validating its position as the most valued meme coin, DOGE is outperforming its long-standing competitor, Shiba Inu (SHIB).
Trading at $0.14, slightly below its daily all-time high, DOGE is slowly eliminating weekly losses, as trading volume has risen above 8% within 24 hours.
