Crypto analyst Kyle Doops evaluated the 20 largest non-stablecoin assets based on relative strength. The criteria focused on assets trading less than 36% below their all-time highs. Only three cryptocurrencies, HYPE, TRX, and Monero, met this threshold during the screening process.
Hyperliquid (HYPE) demonstrated significant strength, reaching an all-time high of $89.60 on September 6 before adjusting to $78.82. For TRON (TRX), the analyst identified a cup-and-handle pattern with a 100% extension target set at $0.4359, slightly above its previous record of $0.4313.
The analysis highlighted limitations in the screening method, specifically regarding Zcash (ZEC). While ZEC failed the filter by trading 64% below its 2016 peak, it subsequently gained approximately 120% in a month, surpassing $1,000. Other major assets showed significant declines, with Chainlink down 78%, Cardano 93%, and Polkadot 98%.
Doops noted that Solana currently trades 66% below its peak. He characterized altcoins as short-term capital rotation vehicles rather than long-term investments, suggesting that historical data does not favor holding altcoins over Bitcoin. Dogecoin, for instance, is currently trading 89% below its historical high.
