The crypto market is always in flux, with new narratives and trends emerging each week. Renowned crypto analyst Miles Deutscher recently took to Twitter to share his insights on the altcoin space, shedding light on the tokens that are catching his attention.<\/p>\n
Starting with UNIBOT, Deutscher highlighted its recent performance, noting that it\u2019s down significantly (-60%) from its highs. He attributed this decline to a combination of fear, uncertainty, and doubt (FUD) and a decrease in key metrics. However, he remains optimistic, suggesting that the accelerated selling might be slowing down.<\/p>\n
\u201cI used the dip as an opportunity to add to my position. I don\u2019t think there\u2019s a rush \u2013 but if you believe in the narrative you\u2019re now getting another chance to accumulate in the double digits,\u201d he shared, indicating a belief in the token\u2019s long-term potential.<\/p>\n
KAVA is another token on Deutscher\u2019s radar. He pointed out several positive developments, including its addition to Fireblocks, a platform that serves as a gateway for institutions. Furthermore, the involvement of DWF Labs and Kava\u2019s role as a gateway to the Cosmos ecosystem for Tether are promising signs. The recent launch of their first perpetual decentralized exchange (perp dex) further underscores Kava\u2019s growing momentum in the market. \u201cRecently added to my accumulation list + I\u2019m watching the chart closely,\u201d Deutscher stated.<\/p>\n
However, not all tokens are receiving a positive nod. The analyst expressed concerns about GALA, citing internal disputes<\/a> between its founders. \u201cThe situation over there is crazy, with both founders suing each other,\u201d he remarked. This ongoing legal battle could potentially hinder the token\u2019s performance and future developments. Deutscher also raised concerns about GALA\u2019s centralization because of the fact that both the founders own 7,000 nodes and 50,000 nodes respectively, a revelation that emerged from recent documents.<\/p>\n In the gaming altcoin space, PYR stands out. Following the turbulence surrounding GALA, liquidity seems to be moving towards other gaming tokens, with PYR emerging as a strong contender and probably the closest counterpart. Deutscher praised its resilience and positive accumulation phase, hinting at its potential for growth. \u201cUpon checking the PYR chart, we rarely see a token in such an extended\/positive accumulation phase\u201d, Deutcher remarked.<\/p>\n Another altcoin to watch is Maker (MKR). Currently, the community is abuzz<\/a> with the news of their \u201cEnd Game\u201d initiative. Deutscher highlighted the project\u2019s ambitious plans, including the proposal to launch their own native chain and move away from Ethereum. This move, however, has not been without controversy. \u201cVitalik obviously didn\u2019t like it, as he sold his remaining MKR,\u201d Deutscher mentioned, pointing to the Ethereum founder\u2019s recent actions.<\/p>\n Sui Network (SUI) is another token that\u2019s been performing well, with a 70% increase in its Total Value Locked (TVL) over the past month. Deutscher sees potential in SUI, hinting at its explosive growth when it gains momentum: \u201cWhen SUI pumps, it pumps hard. Definitely not one I\u2019m fading when it wakes up (from a price perspective).\u201d<\/p>\n Lastly, Deutscher touched upon Solana (SOL), a high-performance blockchain platform, which has recently been the subject of much discussion and speculation in the crypto community. The analyst pointed out that there\u2019s been \u201cnegative noise\u201d building around Solana, particularly in relation to the upcoming FTX liquidations.<\/p>\n These liquidations have raised eyebrows due to the potential impact they could have on the token\u2019s price. While some in the community believe that the effects of these unlocks and the eventual \u201cforced selling\u201d are already priced in, Deutscher suggests that the current lack of liquidity in the market might amplify the price fluctuations more than many expect.<\/p>\n The situation is further complicated by the involvement of Galaxy, who are responsible for handling the funds. They are scheduled to appear in court on September 13th to present a liquidation plan. The figures being discussed are significant, with potential liquidations of up to \u201c$100m weekly, and up to $200m for select tokens.\u201d<\/p>\n Despite these challenges, Deutscher remains strategically optimistic about Solana\u2019s long-term prospects. He hinted at the possibility of adding to his long-term positions if a price correction occurs. However, he also noted that the current environment might present \u201cinteresting short opportunities\u201d for those with a keen eye and a willingness to navigate the risks.<\/p>\n At press time, SOL traded at $19,22. After falling below the 50% Fibonacci level ($20.22), a deeper retracement to $17.33 could be on the cards.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The crypto market is always in flux, with new narratives and trends emerging each week. Renowned crypto analyst Miles Deutscher recently took to Twitter to share his insights on the altcoin space, shedding light on the tokens that are catching his attention.<\/p>\n Starting with UNIBOT, Deutscher highlighted its recent performance, noting that it\u2019s down significantly (-60%) from its highs. He attributed this decline to a combination of fear, uncertainty, and doubt (FUD) and a decrease in key metrics. However, he remains optimistic, suggesting that the accelerated selling might be slowing down.<\/p>\n \u201cI used the dip as an opportunity to add to my position. I don\u2019t think there\u2019s a rush \u2013 but if you believe in the narrative you\u2019re now getting another chance to accumulate in the double digits,\u201d he shared, indicating a belief in the token\u2019s long-term potential.<\/p>\n KAVA is another token on Deutscher\u2019s radar. He pointed out several positive developments, including its addition to Fireblocks, a platform that serves as a gateway for institutions. Furthermore, the involvement of DWF Labs and Kava\u2019s role as a gateway to the Cosmos ecosystem for Tether are promising signs. The recent launch of their first perpetual decentralized exchange (perp dex) further underscores Kava\u2019s growing momentum in the market. \u201cRecently added to my accumulation list + I\u2019m watching the chart closely,\u201d Deutscher stated.<\/p>\n However, not all tokens are receiving a positive nod. The analyst expressed concerns about GALA, citing internal disputes<\/a> between its founders. \u201cThe situation over there is crazy, with both founders suing each other,\u201d he remarked. This ongoing legal battle could potentially hinder the token\u2019s performance and future developments. Deutscher also raised concerns about GALA\u2019s centralization because of the fact that both the founders own 7,000 nodes and 50,000 nodes respectively, a revelation that emerged from recent documents.<\/p>\n In the gaming altcoin space, PYR stands out. Following the turbulence surrounding GALA, liquidity seems to be moving towards other gaming tokens, with PYR emerging as a strong contender and probably the closest counterpart. Deutscher praised its resilience and positive accumulation phase, hinting at its potential for growth. \u201cUpon checking the PYR chart, we rarely see a token in such an extended\/positive accumulation phase\u201d, Deutcher remarked.<\/p>\nShort Solana (SOL)?<\/h2>\n
Crypto Watchlist For This Week<\/h2>\n