In his book "An Altcoin Trader's Handbook" Nick Patel advises to check:

    1.Coins: the intrinsic properties of coin, such as its block reward, coin supply, premine etc.
    2.Exchanges: which, volume etc.
    3.Block explorers and rich-lists: you will dig into how to spot accumulation and smart-money.
    4.Community: social media presence, marketing, responsiveness and approability, etc
    5.Development: whitepapers, roadmap, websites, wallets, github etc.

For him it is the five pilliars of fundamental analys.