Analyst Shares Which Altcoins He’s Buying on the Dip: WIF, PEPE, and…

Analyst Highlighting Promising Altcoin Buys Amid Market Pullback

Analyst Miles Deutscher identified promising altcoin buys during a market correction, focusing on assets exhibiting robust support levels. In a tweet, Deutscher shared his top picks: WIF, PEPE, PRIME, and FTM, highlighting their recent resilience.

Strategy Targeting Coins with Upside Potential

Deutscher's strategy revolves around identifying coins that have demonstrated upward strength and now offer buying opportunities at critical support zones.

WIF Chart Analysis: Support Test at $2.30

WIF's price action suggests a downward trend, with lows approaching the crucial $2.30 support level. This level has previously acted as a reversal point, indicating potential interest if it remains intact.

However, resistance lingers around $3.30, a level that has halted previous rallies, creating a barrier to further gains.

A descending trendline above the current price could signal a breakout opportunity if exceeded. This could trigger a reversal for WIF, with a bounce from $2.30 serving as an attractive entry signal. Conversely, a breach of this support could lead to further declines before stabilization.

PEPE's Horizontal Price Consolidation

PEPE, another coin on Deutscher's list, exhibits a consolidation pattern near $0.00000892, following a broader downtrend. Within this support zone, PEPE's next resistance lies around $0.00001000.

The coin's price action forms a wedge pattern, indicating a potential breakout should it surpass this level.

PEPE's consolidation suggests stability, attracting potential buyers if the support holds. Traders may anticipate a move towards the $0.00001000 resistance, while a breakdown below $0.00000892 could indicate further risk.

PRIME's Sideways Movement at $7.18 Support

PRIME remains in a sideways phase, hovering around a $7.18 support zone after a previous decline. This area has historically provided support, serving as a pivot for short-term rebounds.

If PRIME's support holds, it could provide a foundation for upward momentum, with $8.50 as a potential target. This demand zone is crucial for PRIME's price stability, and traders may expect a reversal if the support remains intact.

However, a drop below $7.18 could result in PRIME testing lower price points, a situation Deutscher suggests may be more attractive with caution.

FTM's Key Level at $0.625

For FTM, Deutscher identifies a $0.625 support level where the coin consolidates. This level offers potential for a recovery rally towards $0.80 if buyers emerge.

Similar to other assets, FTM's current consolidation could signal a stabilization period before another price movement. If FTM holds above $0.625, it may represent an opportunity for traders seeking a rebound.

A break below, however, may indicate ongoing bearish pressure, emphasizing Deutscher's strategy of measured buying and capital preservation for potential further market adjustments.