Entering text into the input field will update the search result below

Crypto Alerts: 3 Altcoins To Make Your Portfolio Blast Off (Avalanche, Solana And Mina)

Apr. 01, 2022 8:00 AM ETAvalanche (AVAX-USD), BTC-USD, MINA-USD, SOL-USD73 Comments


  • Altcoins are highly correlated to Bitcoin.
  • Unfortunately, Bitcoin has had a hard time returning to a bullish trend, going mostly sideways for over a year and constraining altcoins.
  • We have early signs that Bitcoin may have bottomed. Many altcoins have signaled that they are ready as well.
  • Our analysis suggests Avalanche, Solana, and Mina are three altcoins to consider for your cryptocurrency portfolio.
  • This idea was discussed in more depth with members of my private investing community, Crypto Waves. Learn More »
Cryptocurrency bitcoin blockchain neon sign

blackdovfx/iStock via Getty Images

Produced by Ryan Wilday with Avi Gilburt and Jason Appel

Altcoins are generally highly correlated to each other and to Bitcoin. They are often more correlated to Bitcoin than stocks are to their respective indices. Many crypto traders hope for a mature

Join Crypto Waves!

Profit from our coverage of 20+ cryptocurrencies and crypto stocks ... based on our unique strategy for surfing volatility!

"Ryan's tactics have made the difference for me ... when to enter and when to update stops - invaluable."

"Been in your service for most part of 2 years...Really value your work :)"

"Gotta love this service, none better."

Click here for FREE TRIAL!

This article was written by

Ryan Wilday profile picture

Ryan Wilday has over two decades of experience trading equities, futures and options. He was introduced to cryptocurrency in 2013 by a programmer friend and began mining and trading shortly thereafter. Though he read Prechter's Elliott Wave Principle in the early 2000's, he didn't make practical use of the theory until joining EWT in 2015. He has used the theory to call many of the most important turns in Bitcoin and other cryptos since 2017. Of late, Ryan has developed many quantitative systems for trading crypto which he has deployed in this service to the benefit of subscribers. Ryan is a popular speaker at financial forums and conferences in the U.S., including The Traders Expo and The Money Show, and widely syndicated on sites including Seeking Alpha, MarketWatch, and Nasdaq.com. He is the author of two eBooks: "The Risks & Rewards of Cryptocurrencies" and "10 Rules To Be A Successful Crypto Trader."

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD, SOL-USD, AVAX-USD, MINA-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

Comments (73)

Hi, what is your opinion for all the 3 coins? Any chances they recover?
Actionable Conclusion profile picture

1) 99% of all crypto eventually fall to zilch.
2) Bitcoin is crypto but crypto ain't bitcoin.
3) Bet sizing is critical.... especially when speculating.
4) TA is just one small part of the equation.
5) TA gives false reads almost as often as good reads.
6) Nobody went broke taking profits.
7) Not your keys, not your crypto.
8) Ladies, liquor and leverage... how smart people get wrecked.
9) Just because there's a future technology platform, that doesn't tell you what the price should be.

10) The longer one is in crypto the more they lean towards being a Bitcoin Maximalist.
trusthouse profile picture
Well, you made many portofolios blast off indeed. I'm not allergic to technical analysis, but here it proves to be trash. Can you provide for an explanation ?
Ryan Wilday profile picture
@trusthouse I gave supports, below which I personally stopped out and avoided the bulk of this slide. I don't view supports as predictive in the sense that they will definitely hold. I view them as pivots from which I can design a trade with objective risk to reward. This was a painless trade to me. And, typically they take a big slide if broken. There are coins I shorted, not these. But that's the point of a pivot. Long above, consider shorting below. There will be updates in the future, but we are looking at a new round of altcoins that have held support. See Jason Appel's articles as he is covering that series.
c4dancer profile picture
@trusthouse 2022 hasn't been a great year for the EWT team (using long term trading - I think some of the day traders have done well) in general because the primary counts invalidated frequently. That being said, it was much better for the EWT team than for the buy and holders, because every time an expected upturn invalidated, the stop was hit and most of the losses were avoided. Indeed, some traders made a fair amount on the downside because the wave counts that were indicated when the primary counts invalidated did not look pretty. I subscribe to one of the EWT services and the subscribers generally saw much better advice than the free article readers simply because of the timing of the free articles. I was given three 'danger zone' warnings this year for the stock market that the free subscribers never saw because the reason for the danger zone followed by the dramatic drop both came between two free articles.

Due to lack of funds, I don't subscribe to Jason and Ryan's crypto service, but I would bet the same thing has happened there. They don't publish free articles that often so it's quite possible that their subscribers have seen many sell signals for cryptos since this article was written.
Ryan Wilday profile picture
I can't possibly write an article every time every article we write is invalidated. However, we've been looking down in Bitcoin for quite some time, and also were bearish on Luna, as one example. Bitcoin was reflected in Jason's articles. I don't even recall when we were last bullish. Though personally, I've been accumulating Bitcoin, just very slowly. We had to beg some subscribers to sell or at least cut LUNA back in January (early), after we had called a very nice trade long in 2021. But the truth is we just aren't going to get every chart right. That's beside the point. Traders don't make a living getting every chart right but doing their best to cut losses, and let winners run. Yes, that's an old adage most take for granted or don't have a method to make it happen. When charts are invalidated, we stir people to cut or go flat. And, any reader of my articles that I am not able to update, ideally take my levels seriously. If they are breached, I am out, or only keep a very tiny painless size.
crizoule profile picture
gosh, you completely reset the count with your today's chart (vs this April chart). I wonder how we can trust you.
Well, they did blast off, but in the wrong direction. Can anyone explain why these “assets” have value other than finding a greater fool? What makes your 3 better than any of the other 10,000+ “assets”?
Lorenzo Melendez profile picture
Hi. Ryan Waves I have Avalanche Avax.I like it.But think you have C.Warren,Biden to take and regulate our Cryptos to get more richer and peoples Cryptos and TX us.Tell me if right or wrong. That's what's going to happen.But they can't stop the future.
@Lorenzo Melendez No one can stop the future, Lorenzo. You're so right. It just keeps arriving, again, and again, and again.
Ryan Wilday profile picture
@Lorenzo Melendez I don't make decisions off these sort of questions. I have no idea. I am a price action guy. Price tells the truth. And, honestly, crypto doesn't care about the US news only. It's a global asset class.
Lorenzo Melendez profile picture
Gold stays in the Jpm.whos buying?
Buy Physical Gold, Now!
I keep loading up on Alchemy Pay, its involved in so many project and has a great future. At the current price its a steal.
Joseph investing profile picture
Is there a way to buy this similar to GBTC or ETHE for Btc and Eth?.
@Joseph investing I think there already is or will soon be an ETN for solana
Lorenzo Melendez profile picture
@Joseph investing There is no similar. Is only one BTC and One ETH on the STCKS. The rest is imitation and will make your stock who knows.There are B running here B.
@Lorenzo Melendez I think you may be a genius. Your comments are next-level fascinating.
xgeo profile picture
02 Apr. 2022
Why these? Their are over 17000 alt coins available. the greater fool theory on full display. BTC only.
@xgeo You are very uninformed on crypto, most cryptos are worthless , but there are very good projects to buy and hold now , you have to do research to find out , and I'm not sharing mine with someone so lazy . BTC will not be the only major crypto in 5-10 years , if it even exists by then ?
bazooooka profile picture
"I don’t need intimate knowledge of a crypto’s functionality in order to make smart trades"

I hate technical analysis with a passion
Ryan Wilday profile picture
OK. Do you want to elaborate, or just wanted to get that off your chest? LOL
c4dancer profile picture
@Tagerrung "I hate technical analysis with a passion"

Articles by Ryan Wilday are probably not for you. You (you personally - not anyone else) should probably also avoid Jason Appel, and Avi Gilburt.

Most of us read these people's articles because we think they will help us make money. I expect to be blasted for this comment, but I would suggest that you would like technical analysis a lot better if you used the analysis from good analysts. You probably have been burned in the past by a poor but popular technical analyst (I've been there as well.) The above names are all excellent analysts. If you had followed the advice of one of them who advised you to buy at S&P 2200 in March 2020 when most of the fundamental analysts were predicting gloom & doom, you would have a much more warm fuzzy feeling toward technical analysis. So, I am not really suggesting that you not read articles by the aforementioned names unless you are truly married to your hate for technical analysis and have no desire to see that they could improve your results.
@c4dancer Perhaps my comment came a little out of left field, so I apologize to the author for that. I'm more bothered that these are the top recommended articles being emailed to me.

I have a masters in financial markets and investments, at best, my professors always treated technical analysis as something to aid in an overall investment analysis. Mashed potatoes to your turkey. I am particularly bothered when people draw lines on a chart with a lack of understanding about the product, and proudly say they don't have to know the product to make money. I am evermore bothered when they do this with something as volatile as cryptocurrency, where chart analysis goes absolutely insane. Did they call the flash crash of ether to $10 from $300? Did they call the $80 bottom from a top of $2000? The ensuing rise up? How was the DAO hack charted for? I'm assuming you drew lines that predicted the hard fork to Ether and Ether classic? How does your technical analysis work on oil when everyday changes based on an unpredictable war and unpredictable changes in production? It doesn't, it's reading tea leaves for the modern man.

The fact that most people read these because they think they will make money is exactly my problem. It's the same thing that makes Dogecoin and Shibe take center stage and detract from real growth in cryptocurrency. But now I'm just starting to sound like a raving old man.
I’m trading digital pinecones. Anybody interested?
OlderThanDirtDave profile picture
@SeattleKraken BitPine! Or...Cone...LOL
c4dancer profile picture
It's nice to see this article after I independently bought AVAX and SOL.
Lorenzo Melendez profile picture
@c4dancer l have tons of Cryptos BTC and ETH. Don't fool yourself.
c4dancer profile picture
@Lorenzo Melendez Just curious how one measures a ton of something that's weightless.
jimbo162 profile picture
Good read Ryan, MINA is a new one to me but will dig into a bit, thanks.
02 Apr. 2022
@jimbo162 I've followed mina since the beginning, and has impressed me along the way..
ruble profile picture
01 Apr. 2022
As I entered AVAX in the 60s this analysis is certainly making me feel good. I have a 50 BTC, 25 ETH, 25 AVAX allocation. Solana, Cardano and Polkadot fell more when bitcoin fell and rose less when bitcoin rose. So I dropped them from my portfolio a couple in feb.
$luna and the terra ecosystem is in the process of buying 10 billion worth of btc. Also allows you to bond your avax and borrow up to 80% of the collateral. UST, terra's stable coin, also earns 19.5% in anchor.
@enjoyjars LUNA for sure is one of the best performers due to the mint and burn related to stable coin issuance. The upward potential is questionnable given fully diluted MC of 107B in the run-up and competition
OlderThanDirtDave profile picture
So where's the absolutely best place to buy them?
@OlderThanDirtDave on chain in a dex like 1 inch or osmosis
OlderThanDirtDave profile picture
@wbs123 Thanks, wbs123 !
@OlderThanDirtDave np osmosis uses atom (crosschain) and is a chain and dex in itself.

I would be very careful with Solana as it has little nodes and is thus still relatively centralised despite high valuation. It is also still beta and had to2be manually restarted last year (LOL). I tip ftm and atom
Disagree with this article? Submit your own. To report a factual error in this article, . Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.