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- ZETA’s price could rise to $3.50 if the buying momentum remains present.
- PYTH experienced increasing downward momentum but this could offer better buying opportunities.
- Profit-taking led COTI to drop to $0.21 but a major recovery seemed likely.
Discover Crypto, a YouTube channel providing crypto insights, posted a new video highlighting the three altcoins that could be the biggest gainers in 2024. Coin Edition observed the session as the channel noted that new cryptocurrencies might dominate the price charts this year.
Out of the newly launched coins, the channel chose ZetaChain (ZETA), Pyth Network (PYTH), and COTI (COTI).
Zeta Chain (ZETA)
To back up the choice, the anchor of the channel noted that ZetaChain has been experiencing a lot of smart money’ buys after early adopters dumped their holdings. He also mentioned that being a Layer 1 project puts the token in pole positions for exponential growth.
Beyond that, he mentioned that ZETA’s social media following alongside active development places it as a top altcoin that could 10x this cycle.
ZETA’s price at press time was $2.65, thanks to a 378% increase in the last 30 days. The 4-hour chart showed that the Supertrend had flashed a buy signal at $2.24. However, a proper examination of the chart showed that ZETA could experience resistance around $2.80.
Nevertheless, the Relative Strength Index (RSI) reading has been increasing. An increase in the RSI suggests that buying momentum was very present. In the short term, ZETA’s price could rise as high as $3.50.
ZETA/USD 4-Hour Chart (Source: TradingView)
In the long run, continuous smart money accumulation could send the price in the double-digit region. However, traders might need to watch out for pullbacks as they could provide better buying opportunities.
Pyth Network (PYTH)
Discover Crypto noted that he chose PYTH because of its fundamentals. First, the anchor noted that PYTH is built on Solana (SOL) which he is very bullish on. He also gave a second reason, noting that the Oracle (NYSE:ORCL) fundamentals make it a top pick. To make it further interesting, he called Pyth Network the Chainlink (LINK) of Solana.
The PYTH/USD 4-hour chart showed that the price had pulled back. Indications from the 0.618 Fibonacci level showed that $0.67 could be a good entry point before the token recovers. At press time, PYTH changed hands at $0.68.
Furthermore, the Awesome Oscillator (AO) displayed red bars, suggesting increasing downward momentum. If PYTH’s price slides further, traders might want to accumulate at a discount. If buying pressure comes in later, the price could surpass $1 within a few weeks.
PYTH/USD 4-Hour Chart (Source: TradingView)
COTI (COTI)
COTI was the last cryptocurrency the channel tipped to perform well. Like ZETA and PYTH, COTI is also a new token. The channel noted that its privacy capability was the basis for the choice.
He, however, opined that traders should be careful about buying COTI around $0.25 because it could retrace soon. On the daily timeframe, COTI displayed a sharp bearish candle to $0.21, which suggested that traders had started to book profits.
COTI/USD Daily Chart (Source: TradingView)
Coin Edition also analyzed the Exponential Moving Average (EMA). At press time, the 50 EMA (blue) had crossed over the 200 EMA (yellow), indicating a long-term bullish trend. In a highly bearish scenario, COTI might drop to $0.15. But in the long term, the cryptocurrency has the potential to triple its price.
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