Top Altcoins to Stack Before the Altcoin Rally Kickstarts in 2024

Amid increased market uncertainty, the Ethereum price has stabilized around the $2,400 mark. Further, with the dominance of Bitcoin constantly declining

The Ethereum price has shown remarkable stability around the $2,400 mark, despite the ongoing market uncertainty. This price action is particularly noteworthy as it comes amid a period of declining Bitcoin dominance, which many investors are interpreting as a sign of an impending Altcoin season cycle.

Over the past month, the dominance of lesser-known tokens has increased to 17.02% from 16.32%. This shift aligns with the broader narrative of altcoins outperforming Bitcoin, especially during periods of market recovery.

As a result, investors are speculating whether 2024 could witness a mini AltSeason, given that Ethereum is still trading below the $2.4K mark. To prepare for this potential scenario, let’s explore some of the top altcoins that are displaying promising technicals for a rewarding addition to any portfolio.

Solana (SOL)

Despite the ongoing market turmoil, the SOL price has managed to sustain its value above the $127 mark, highlighting a strong support at that level. Furthermore, it is trading at a discounted price of 37.95% from its yearly high, indicating a potential bullish reversal for the altcoin.

The Relative Strength Index (RSI) continues hovering below its neutral point in the 1D time frame. However, the average trend records a potential bullish convergence. Furthermore, with its SMA displaying a similar action, the Solana price hints at a positive outlook in the coming time.

If a bullish reversal were to occur, the SOL coin price would be preparing to retest its upper high of $181. Moreover, a bullish breakout could lead to it setting a new yearly high in the upcoming months.

Dogecoin (DOGE)

After dropping⁓58% from its yearly high, the memecoin leader is currently trading around its pivotal resistance/support level of $0.10. As the price of Bitcoin took a downturn from the $55K level, the meme coin category took a major hit; however, top tokens have since recovered with stable price action.

The Moving Average Convergence Divergence (MACD) has displayed a constant flatline with its averages recording a neutral price action in the 1D time frame. This highlights a cool-off in the price action of the DOGE coin price in the market.

Sustaining the price above its resistance level of $0.10 would set the stage for the Dogecoin price to head toward its next crucial resistance of $0.155. Furthermore, with an AltSeason in action, this memecoin could retest its yearly high.

AIOZ Network (AIOZ)

The Artificial Intelligence (AI) category has faced a massive setback over the past few weeks. The AIOZ Network price has dropped⁓25% during the last 30 days. However, the price has recorded a bullish curve above the support level of $0.3393, indicating a potential reversal.

The Simple Moving Average (SMA) is on the verge of recording a bullish crossover in the 1D time frame. This suggests an increased positive influence in the market. Moreover, the RSI indicator experiences a similar action, indicating that the price will continue gaining value.

An intensified bullish action could push the AIOZ price toward its upper high of $0.6843. Furthermore, if the bulls continue to gain momentum, this AI token could breach its $0.8395 level and prepare to retest its $1 mark.

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