Several altcoins have drawn attention for their potential in the next bull run. Nick, a prominent crypto analyst and host of the Cheeky Crypto YouTube channel, has identified three specific altcoins that he believes are poised for significant growth in the next market surge.
Based on current market trends and developments, Nick’s analysis highlights these altcoins for their unique characteristics and potential growth trajectories. These predictions offer insight into what could be the next big drivers in the world of cryptocurrencies.
Related Reading: Crypto Analyst Projects $7 Trillion Market Cap for Altcoins – Here’s When
Three Altcoins Prepared for a Possible Rise
Solana (SOL) is one of three altcoins that caught Nick’s attention for its graph structures and potential scalability. Regardless of the initial doubts, the analyst recognizes Solana’s strong technical setup, which he believes could drive its price to “phenomenally high numbers” in the next bull run.
Nick predicts that Solana could reach a target of up to $7,500, although he also offers a more conservative estimate of $2,000, considering possible future developments that could affect its growth.
While Solana is currently trading at a price close to $60, a more practical short-term target, according to Nick, could be $600 to $700.
The analyst advised investors to be cautious about the potential impact on the market when large quantities of SOL become available for sale after a lock-up period and to consider it in their investment strategy. Nick noted:
Obviously, there are many [Solana] tokens that are locked to Solana, so basically we’re starting to see a lot of those tokens being distributed and the lock-up periods will expire in March 2025, so this means we really want to make sure we’re out of our positions before that those billionaires have the capacity. to throw us on.
Chainlink (LINK) is also another altcoin that is on Nick’s radar. The analyst appreciates the importance of Chainlink in the blockchain industry and anticipates that its growing exposure and adoption could generate a substantial inflow of capital.
Nick’s theoretical projection sees Chainlink reaching $2,300, while a more informed expectation places it between $200 and $400 during the next cryptocurrency bull run.
Related Reading: Ethereum Leak: Analyst Explains Why King of Altcoins Is Destined for $10,000
Featured image from Unsplash, chart from TradingView
