The cryptocurrency market began the third quarter of 2024 with a positive outlook, as major coins showed signs of forming a bottom and gearing up for a recovery. Chainlink (LINK), Polkadot (DOT), Litecoin (LTC), and Polygon (MATIC) emerged as top altcoins to consider buying to leverage the post-correction rally.
Renowned trader Alicharts shared an analysis indicating that the traditional saying “Sell in May and go away” may no longer apply, as Bitcoin saw increased retail interest with new addresses hitting a four-month high.
According to Alicharts, the surge in new Bitcoin addresses suggests a strong return of retail investors to the market, potentially shifting market dynamics.
Chainlink (LINK) is a decentralized oracle network that connects blockchain smart contracts with real-world data. Despite a drop in price during the June correction, Chainlink quickly rebounded and is set for a potential rally after surpassing key levels.
Polkadot (DOT) is a blockchain protocol enabling multiple blockchains to interact in a trust-free manner. Following a downtrend, Polkadot experienced a reversal and broke out of a wedge pattern, signaling a possible end to the correction phase.
Litecoin (LTC) and Polygon (MATIC) also showed promising signs of recovery, with potential for price increases in the near future.
Overall, the cryptocurrency market is showing signs of recovery and renewed investor sentiment, making it a good time to consider investing in altcoins that have the potential to reach significant market capitalization levels.