The closely-watched altcoin season index and the crypto fear and greed have jumped in the past few weeks. The latter has jumped to 80, pointing to extreme greed among investors.
Similarly, the altcoin season index has jumped to 74, meaning that it only needs to go up slightly to start the alt season. This rally has been helped by popular cryptocurrencies like PNUT, Hedera Hashgraph, Stellar Lumens, Ripple, and Algorand.
Top forgotten crypto to buy in the altcoin season
Here are some of the top overlooked crypto to buy and hold for strong returns in this altcoin season. These three coins were once highly popular but have continued to underperform the market.
Monero | XMR
Monero is one of the top overlooked crypto to buy as the altcoin season starts. The weekly chart below shows that the XMR token has remained in a tight range in the past few months, missing the ongoing crypto bull run.
It has remained inside the key support and resistance levels at $125.73 and $180 even as Bitcoin has jumped to a record high. As a result, the Average True Range (ATR) indicator has fallen, a sign of weak volatility.
Therefore, there is a likelihood that Monero is in an accumulation phase and it could blast upwards in the next few months. If this happens, the next point to watch will be at $290, its highest point in April 2022, which is about 68% above the current level. This view will be confirmed if the coin rises above the resistance point at $180.
Arweave | AR
Arweave is another crypto to buy as the altcoin season index rises. It has jumped from the November low of $12.4 to a high of $24. On the daily chart, the coin has flipped the important resistance level at $24.5, its highest level on September into a resistance. This price was also along the neckline of the inverse head and shoulders chart pattern.
Arweave price has moved above the 50-day and 200-day Exponential Moving Averages (EMA). The MACD indicator and the Relative Strength Index (RSI) have all pointed upwards. It is also approaching the 50% retracement level.
Therefore, the Arweave coin price could stage a strong comeback, with the next point to watch being the year-to-date high of $50, which is about 100% above the current level.
Limewire | LMWR
Limewire is another often overlooked crypto to buy. Like Arweave, it is a crypto project in the file storage industry, where it allows users to store and edit files. It has also embraced artificial intelligence technology.
The daily chart shows that the Limewire token formed a double-bottom-like coin at $0.1047 and then bounced back. It has crossed the important resistance level at $0.30, its highest swing in April.
Therefore, the LMWR token could stage a comeback and initially rise to the 23.6% retracement point at $0.5435, which is about 52% above the current level. A break above that price will see it hit the 50% retracement point at $0.9795, which is 173% above the current level.
