Whales Are Buying These Altcoins Ahead Of U.S. Election 2024?

Top Cryptocurrencies Poised for Market Dominance Amid Volatility

Despite recent market fluctuations, leading cryptocurrencies have experienced significant corrections, providing opportunities for investors. Whales have seized this advantage by acquiring more tokens at discounted prices.

As price volatility persists, determining the optimal time to invest for maximum returns during the post-election bull market is crucial. Here are the top three tokens poised to dominate the market this month:

Bitcoin (BTC)

With a 2.08% drop over the past 24 hours, Bitcoin's price has retested its $68,000 support level. However, it has gained 11.33% over the past month and boasts a YTD return of +61.63%, indicating long-term bullishness.

The Relative Strength Index (RSI) has recently failed to breach its overbought range, leading to a downtrend in Bitcoin's price chart and suggesting a potential bearish outlook.

If bullish sentiment persists, BTC could retest its all-time high of $73,750.07 this month. Conversely, a bearish trend could drive it back towards its $60,000 support level.

Ethereum (ETH)

ETH has exhibited a neutral trend over the past week, with minimal price fluctuations. This indicates a balanced buying and selling pressure.

The Moving Average Convergence Divergence (MACD) shows a neutral price trend and the 50-day Exponential Moving Average (EMA) acting as resistance.

If the market favors the bulls, ETH could test its $2,800 resistance level. However, bearish sentiment could drive it towards its $2,200 support level.

Dogecoin (DOGE)

Despite a 6.36% correction over the past 24 hours, DOGE has gained 9.91% over the past week and 40.47% over the past month, reflecting long-term bullishness.

The Stochastic Moving Average (SMA) indicates bearish convergence, while the RSI shows a decline in the 1D time frame, suggesting a negative outlook.

If bulls regain momentum, DOGE could reach $0.18225. Conversely, if bears dominate, it could drop towards $0.127 this month.