As Bitcoin’s recovery post-dip propels it towards a new all-time high, crypto analyst Miles Deutscher has identified several altcoin setups that have piqued investor interest. In his weekly token and narrative watchlist, Deutscher shed light on the prospects of Solana (SOL), Ordinary Token (ORDI), and the meme coin Dogecoin (DOGE), among others.
Bitcoin’s Robust Recovery
Deutscher’s analysis begins with Bitcoin, the crypto kingpin. He notes that Bitcoin’s recovery has been strong following the dip lately, and its structural outlook appears promising. The previous high of $73,800 remains the major level to watch as Bitcoin continues its ascent.
Solana: Weathering Network Congestion Woes
Regarding Solana (SOL), Deutscher acknowledges that sentiment around the project has slightly worsened due to network congestion issues. However, he remains optimistic, stating that like previous challenges, this too shall pass without significantly impacting Solana’s medium to long-term trajectory. Deutscher believes Solana is well-positioned to continue its dominance as the “biggest casino in the world.”
ORDI and the BRC-20/BTC Narrative Ecosystem
Ordinary Token (ORDI) has been a standout performer in the BRC-20/BTC narrative ecosystem. Despite the approaching halving event, an exceptionally rare occurrence every four years, Deutscher notes that the narrative surrounding it seems “eerily quiet.” Nonetheless, he remains bullish on BRC plays leading up to the halving, with ORDI being a prominent leader in this space.
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Show more +Show less –ALT and the EigenLayer Airdrop Anticipation
Rumors have been circulating about the impending EigenLayer airdrop, and Deutscher believes the market will need betas heading into it. He favors ALT, given its close relationship with Eigen itself, and its involvement in the restaking narrative, which is likely to receive a subsequent boost.
ORN: The First Restaking Rollup on EigenLayer
Orion (ORN), soon to be rebranded as LUMIA, finds a place on Deutscher’s radar as the first restaking rollup on EigenLayer. With limited exposure to EigenLayer pre-launch, ORN presents an opportunity for investors. Deutscher also notes that the market has responded positively to recent rebrands.
Doge Day and DOGE Speculation
Doge Day, celebrated on April 20th, is not far away, and Deutscher points out that DOGE has historically performed well leading up to this event due to speculation surrounding potential Elon Musk tweets. He suggests keeping an eye out for strength in DOGE, as it could present a decent trading opportunity if an entry point arises.
W and the Airdrop Jeeter Phenomenon
Deutscher touches upon the recurring pattern of early airdrop jeeters (TIA, PYTH, JTO, etc.) being punished. Once the initial selling is flushed out, he anticipates a potential positive response for W. The $1 support level is a crucial area to monitor, and how W reacts around that level could be telling.
Deutscher concludes by hinting at additional coins on his watchlist, which he plans to share throughout the week, focusing on specific sectors he aims to delve into more depth.
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The post Bitcoin (BTC) Price Surges Towards New ATH, Spotlight on Solana (SOL), ORDI, and Dogecoin (DOGE) Altcoin Setups appeared first on CaptainAltcoin.
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