Cryptocurrency analyst has unveiled his top three altcoins to buy in March 2024, forecasting significant movements in the coming months. Among his picks, Polygon (MATIC) takes the lead.
Polygon (MATIC) is Virtual Bacon’s first choice, despite its widespread popularity. He believes the cryptocurrency is currently undervalued, emphasizing its technology that enables seamless communication between subnetworks, facilitating cross-chain DeFi applications. Virtual Bacon views Polygon’s tokenomics favorably compared to its competitors and anticipates a notable increase in its price, potentially surpassing previous all-time highs. The analyst discusses potential trade setups for Polygon, expressing confidence in its future performance.
Next on the list is Aevo + Ribbon Finance (RBN). Despite a recent price surge, Virtual Bacon considers it undervalued. He elaborates on Ribbon’s transition to Aevo, a decentralized exchange specializing in futures trading. Virtual Bacon highlights Aevo’s surpassing of dydx in trading volume and compares Ribbon’s value to other exchanges, identifying it as undervalued. He points out two upcoming events in March—an airdrop and a token event for Ribbon—and shares his thoughts on potential price targets and trade setups.
Lastly, Virtual Bacon mentions Arweave as his third altcoin pick for March. He notes that Arweave’s price has experienced a significant breakout following a recent announcement. Despite a resistance range between $16 and $19 since its launch in May 2021, Virtual Bacon sees potential buying opportunities if the price dips back to $19 to $20. However, he acknowledges the strong uptrend and mentions purchasing Arweave between $26 and $27 during a recent dip.
