Following Bitcoin’s significant 34.86% rise in the last 30 days, a broader uptrend is evident in the altcoin market. Alternative crypto assets with strong fundamentals and promising technical indicators are attracting the attention of investors. Analysts Elmaz Sabovic and Valdrin Tahiri revealed the coins investors should watch over the next week and month. Here are the details…
First altcoin on the list: XRP
Following Bitcoin’s impressive 34.86% rise in the last 30 days, the broader cryptocurrency market is also experiencing a simultaneous uptrend. XRP stands out among this week’s picks as it has the highest market cap and has been among the best performers over the previous 30 days. Despite the 6.45% decline in the last 24 hours, XRP recorded an impressive positive change of 35.23% on a monthly basis. Recent positive news, including a three-month high and an influx of whale wallets, points to the potential for strong performances in the future. As of the latest data, XRP is trading at $0.65 and investors are hoping for a recovery of $0.70 in the near future.
What’s next for Cardano?
Cardano (ADA) is attracting attention, with a year-to-date increase of 52.20% and a positive change of 53.11% in the last month. The native token staked in exchange for staking rewards contributes to ADA holding the third largest position in Staking Market Cap. The Cardano network has a total staked value of $8.43 billion as of November 10. ADA is currently priced at $0.38 with a 1.43% change in 24 hours, a positive change of 16.72% in a week, and a significant increase of 53.11% in the last 30 days.
Polygon shows strong performance
Polygon (MATIC) witnessed a significant price increase. Despite a negative 33% year-to-date growth in September, MATIC has trended positively with a current year-to-date increase of 17.80%. Priced at $0.82, MATIC experienced a positive change of 1.22% in the 24-hour period, continuing its 7-day positive trend of 24.82% and its impressive 30-day gain of 59.78%. Santiment’s November 9th view highlighted a steady rise to $0.80 and a +54% increase in market value in just 3 weeks.
There is optimism for altcoin PENDLE
The PENDLE price has increased rapidly since August, especially in the last four weeks, reaching $1.23. This increase led to a breakout from the $1 horizontal resistance area, which has been in place since September 2021. Notably, if the current price is maintained through the end of the week, PENDLE will post its highest weekly close ever. With the positive reading on the Weekly Relative Strength Index (RSI) and signs of bullish momentum, there is optimism for further gains, with a potential target of $2.07 representing an 80% upside from the current price.
Bancor left the resistance area
Breaking out of the long-standing $0.65 horizontal resistance area since May 2022, Bancor (BNT) reached a new yearly high of $0.84. The weekly RSI supports this increase with an indicator above 50 and is moving upwards, indicating a bullish trend. Cryptocurrency trader HBJ trades is expecting a significant price increase, potentially leading to a 250% upside and reaching the next resistance at $2.70.
Last altcoin on the list: Radiant Capital (RDNT)
RDNT reached $0.30 on October 25, successfully breaking through the long-term descending resistance trend line since April 15. Cryptocurrency trader SherlockWhale predicts a potential rise to at least $0.36 with the target located between the 0.5-0.618 Fib retracement resistance levels. This represents a 25% increase from the current price. However, caution is advised as failure to sustain the increase could result in a 25% decline and confirm the trend line at $0.22.
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