Is Altcoin Season Approaching? Notable Analyst Nicholas Merten Highlights Promising Altcoin Selections
Amidst the ongoing fluctuations in the cryptocurrency market, directing attention towards altcoins with strong underlying fundamentals could be a strategic move. Recently, analyst Nicholas Merten shed light on some top altcoin choices based on robust foundations.
**Fetch.ai (FET)**
Fetch.ai has been drawing interest due to its involvement in Artificial Super Intelligence (ASI), along with SingularityNet and Ocean Protocol. Merten suggests keeping a close watch on Fetch.ai within a specified support range if available at a reduced price, while also tracking previous resistance levels.
**SingularityNet (AGIX)**
Distinguished for its contribution to decentralized AI, SingularityNet boasts solid partnerships with Fetch.ai and Ocean Protocol, solidifying its presence in the AI and Big Data realm. Merten envisions long-term growth prospects for SingularityNet as AI continues to gain significance in the technology and cryptocurrency sectors.
**Ocean Protocol (OCEAN)**
Centering its efforts on data sharing and privacy within the decentralized AI and Big Data domain, Ocean Protocol has caught Merten’s interest due to its market positioning. He foresees Ocean benefiting from the growing demand for data solutions in the field of AI.
**Render Token (RNDR)**
Render is capitalizing on decentralized GPU power for graphic rendering, crucial for applications in gaming, virtual reality (VR), and AI. Merten recommends monitoring Render’s price at critical support levels, recognizing its potential for expansion as the need for AI and graphic rendering escalates.
**Considering Meme Coins**
Meme coins are presently experiencing sideways price movements, potentially hinting at accumulation by significant stakeholders. However, these meme coins are showing limited strength against Bitcoin, with a lower market capitalization compared to the previous year. Merten advises focusing on small-cap meme coins rather than larger ones such as Dogecoin.
In conclusion, while the outlook for altcoins remains uncertain, investing in fundamentally robust projects like Fetch.ai, SingularityNet, Ocean Protocol, and Render Token could prove advantageous in the long haul within the ever-evolving cryptocurrency market landscape.
