Crypto analyst Scott Melker shared the top 4 altcoins that investors should be watching as the altcoin season begins.
4 top altcoins to watch next
In a new video, he said that he is keeping an eye on scalable blockchain network Cosmost (ATOM) in both its Bitcoin (BTC) and USD pairs.
Melker said that he’s interested in ATOM if it can close above 0.000357 BTC.
He also explained that ATOM is hitting resistance at just under $17 in its USD pair.
If the coin can break cleanly above this level, it could be giving “a very clear signal that this is entering a new uptrend,” he said.
As the online publication the Daily Hodl reveals, he continues and looks at blockchain project Avalanche (AVAX). It seems that this one is meeting resistance against Bitcoin at 0.00054 BTC.
The coin is on the verge of flipping the 50-week moving average, according to the analyst.
“If you flip 0.00054 [BTC] here, you should be levitating up to 0.00089507 [BTC].”
The third project that he is discussing is the blockchain network Egold (EGLD).
In its Bitcoin pair, EGLD is currently at the top of a move and will likely consolidate for a period, says Melker.
“If it can close above 0.003 BTC, it could signal confirmation of a breakout and provide a solid long trade,” he notes as the online publication the Daily Hodl writes.
He pointed out the fact that if EGLD can close above $150 in its USD pair, his next target will be $200.
The fourth coin that the analyst is looking at is SushiSwap (SUSH).
He reportedly said that although the asset is triple-bottoming, it could confirm a breakout if it can sail above 0.000279 BTC in the Bitcoin pair.
Check out the video above in order to learn what more he had to say.
Stay tuned for more news from the crypto space.