Lid’s August Altcoin Picks

As we now enter August, the Crypto market is continuing its slow-bleed since January’s highs. Many altcoins are completing full retraces, while others are reaching critical support. These are the times nobody wants to buy as people are in distraught about their portfolios, or they simply have no spare BTC to purchase these juicy dips. If you’ve held spare BTC for times like these, then well done.

Gone are the days where every altcoin could be listed on one page of Coinmarketcap. In contrast, we are now in a time where hundreds of new coins are introduced every month, and if we’re being honest, it’s getting more and more difficult to filter out the scams from the gems. One way to limit your risk when buying altcoins is to not touch coins that are far from their bottom, but instead are near strong support where the price has bounced from in the past. Here are some coins I’ve been looking at:

KOMODO (KMD) $150m MCAP

Where to set bids? 16k-17k sats
Long term target (sir?) 90k sats

 

ARK (ARK) $100m MCAP

Where to set bids? 9.5k-12k sats

 

NEXUS (NXS) $70m MCAP

Currently NXS is sitting on 15k sat support, and it isn’t a bad idea to start scaling your position from here. However, there’s a good chance we’ll see lower.
Where to set bids? 9.5k-12k sats

 

ARDOR (ARDR) $145m MCAP

Where to set bids? 1550 sats – 1750 sats

 

STRATIS (STRAT) $240m MCAP

Where to set bids? 30k sats and below is a good buy zone to start scaling in your position
EDIT: Seems like STRAT support might fall through – I’d be wary at this point and look for a lower entry to limit risk 🙂

We are currently in an uncertain time of the market, limit the risk of your investments by setting ambitiously low bids (for those panic dumpers) and look for coins heading for critical support. There is much more risk in buying coins that have risen and are not near their bottom.

Trade safe and DYOR!

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