Be careful with some alts pumping over 20% right now as many are indeed having unsustainable rallies.

As we all saw we just got a little alt-season happening right now, if you can even call it that. Multiple altcoins have pumped 20% over the past days while BTC has remained mostly flat and still battling $21k resistance. This is the usual definition of a alt season but obviously under current circumstances its more of a mini-altseason. Especially in a bear market you have to be extra careful as 20% up in one day can be followed by 50% down the next day.

A few that I would say to think about with more caution that usually are especially metaverse cryptos. The whole idea of the metaverse has been damages because of METAs failure and many crypto projects like MANA have nearly no actual users on their metaverse still its valued at billions of dollars.

Here is a look at MANA price action:

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Daily price action of MANA for recent month

As you can see, even with a current pump many alts are still way off their levels from even just two months ago, let alone their previousnhighs which for many are going to be difficult as they would need a literal 10x or higher.

But a more important example here may be GALA which has just recently suffered a hack that their own team is denying as a alleged hack which is surely a bit suspicious, but it still rallied on and its YTD performance is also perhaps depressing:

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Year-to-Date price action of GALA

Obviously there are also altcoins that are having more or less sustainable rallies like MATIC with the ton of amazing news they got from Reddit NFTs to NFTs on Instagram soon and further even hold longterm utilities as a sidechain from Ether.

The fact is just that its very hard to know which rally is sustainable and which not, especially in a bear market so trying to leverage now would be not so smart according to me.