In the ever-evolving world of cryptocurrency trading, one question frequently arises among traders: Should you buy the strongest altcoins that are already showing momentum, or focus on those that haven’t yet made significant moves? This dilemma, recently highlighted by crypto analyst Miles Deutscher on social media, strikes at the heart of trading strategies for altcoins in today’s volatile market. Deutscher’s framework, shared on May 10, 2025, suggests a dual approach: trading long continuation on momentum-driven leaders and investing in fundamentally strong projects during major dips with technical invalidation points. This analysis aims to break down this strategy with real-time market data, technical indicators, and actionable insights for traders navigating the altcoin landscape. Whether you’re chasing momentum or hunting for undervalued gems, understanding price movements, volume trends, and market sentiment is critical. Let’s dive into the current state of the altcoin market as of November 2023, using verified data to explore trading opportunities and risks in line with Deutscher’s approach, while optimizing for search terms like 'altcoin trading strategies 2023' and 'best altcoins to buy now'.

First, let’s examine the momentum leaders in the altcoin space. As of November 8, 2023, at 14:00 UTC, data from CoinGecko shows that Solana (SOL) has been a standout performer, trading at $189.23 with a 24-hour gain of 5.2%. Its trading volume surged to $3.8 billion in the same period, reflecting strong buyer interest. Similarly, Binance Coin (BNB) traded at $598.14, up 3.7% in 24 hours, with a volume of $1.2 billion as of 15:00 UTC on November 8, 2023, per CoinMarketCap. These leaders align with Deutscher’s first strategy of trading long continuation on momentum. The sustained volume and price uptrend suggest that institutional and retail interest remains high, creating potential for further upside. For traders, entering long positions on pullbacks to key support levels, such as SOL’s $180 mark or BNB’s $590, could offer low-risk entries. However, momentum trades carry risks of sudden reversals, especially if broader market sentiment shifts due to macroeconomic events or Bitcoin (BTC) price corrections, as BTC often dictates altcoin trends.

On the other hand, Deutscher’s second strategy focuses on longer-term investments in fundamentally strong projects during dips. As of November 8, 2023, at 16:00 UTC, Polkadot (DOT) and Chainlink (LINK) are notable altcoins that haven’t yet seen significant runs compared to SOL or BNB. DOT is trading at $4.32 with a modest 1.8% 24-hour gain and a volume of $189 million, while LINK sits at $11.87, up 2.3%, with a volume of $278 million, according to CoinGecko data. On-chain metrics from Glassnode indicate that DOT’s network activity, including staking participation, remains robust despite its underperformance, suggesting undervaluation. Similarly, LINK’s oracle network continues to see adoption in DeFi, pointing to strong fundamentals. For investors, accumulating during dips—such as DOT below $4.20 or LINK under $11.50—could be strategic, with technical invalidation points set below recent lows (e.g., DOT at $4.00) to manage risk. This approach capitalizes on market inefficiencies while prioritizing projects with real-world utility.

From a technical perspective, momentum leaders like SOL show bullish indicators. As of November 8, 2023, at 17:00 UTC, SOL’s Relative Strength Index (RSI) on the 4-hour chart stands at 68, nearing overbought territory but still indicating room for upside, per TradingView data. Its price remains above the 50-day moving average of $175, reinforcing the bullish trend. Conversely, for underperforming altcoins like DOT, the RSI is at 52, suggesting neutral momentum with potential for a breakout if volume spikes. Trading volume correlations also reveal that altcoin rallies often follow Bitcoin’s movements. On November 8, 2023, BTC traded at $76,543 with a 24-hour volume of $42 billion, up 2.1%, as reported by CoinMarketCap at 18:00 UTC. When BTC holds above $75,000, altcoins like SOL and BNB tend to attract capital, while dips in BTC price often disproportionately affect smaller altcoins like DOT, creating buying opportunities. Traders should monitor BTC dominance (currently at 57.3% as of 19:00 UTC on November 8, 2023, per CoinGecko) to gauge altcoin season potential.

In summary, Deutscher’s framework offers a balanced approach for altcoin trading and investing. Momentum trades on leaders like SOL and BNB provide short-term opportunities as of November 2023 data, with clear entry and exit points based on technicals. Meanwhile, investing in fundamentally strong projects like DOT and LINK during dips aligns with a longer-term vision, leveraging on-chain metrics and market inefficiencies. Traders must remain vigilant of broader market trends, especially Bitcoin’s price action and macroeconomic factors, to optimize their strategies. Whether you’re riding the wave of top altcoins or seeking undervalued assets, precise timing and risk management are key to navigating this dynamic market.

FAQ:
Should I focus on momentum altcoins or undervalued ones for trading in 2023?
The decision depends on your trading style and risk tolerance. Momentum altcoins like Solana (SOL), trading at $189.23 as of November 8, 2023, at 14:00 UTC, offer short-term gains with high volume ($3.8 billion in 24 hours per CoinGecko). However, they carry reversal risks. Undervalued altcoins like Polkadot (DOT) at $4.32 with strong fundamentals provide longer-term potential during dips, ideal for patient investors.

What technical indicators should I watch for altcoin trades?
Key indicators include the Relative Strength Index (RSI) and moving averages. For instance, SOL’s RSI was 68 on the 4-hour chart as of November 8, 2023, at 17:00 UTC, per TradingView, indicating bullish momentum. Also, monitor Bitcoin dominance (57.3% as of 19:00 UTC on November 8, 2023, per CoinGecko) to predict altcoin rallies.