In the statement made by the altcoin analyst, these 5 coins to be watched in the crypto money market in March 2023 came to the fore. cryptocoin.com We have compiled the coins given by the altcoin analyst for you.
This altcoin announces Bedrock upgrade
The first protocol upgrade of the Optimism mainnet will go live on March 15. The Bedrock upgrade will provide simplicity, modularity and positively impact safety and performance. Bedrock is a preparatory step for the multi-chain future of Optimism. The upgrade is expected to take about 4 hours.
OP price is probably in the fourth wave of a five-wave upward move (white). The most likely level for the correction to end would be the $2.10 horizontal support area located in the lower fourth wave zone. Then, the increase could continue towards $3.80.
However, a break below a wave high at $1.42 invalidates this bullish prediction. In this case, the cryptocurrency could drop to $0.70.
Polygon (MATIC) prepares for mainnet launch
On March 27, the Polygon network will launch the Polygon zkEVM mainnet beta, which is described as the future of Ethereum scaling. Developers can copy and paste code that runs on Ethereum and will run fine on Polygon zkEVM.
However, Polygon price broke from an ascending support line and settled below the $1.28 horizontal resistance area. The trend is considered bearish unless it retraces the latter. Therefore, a drop to $1.06-1.15, which is the 0.5-0.618 Fib retracement support levels, could occur. However, if the altcoin retakes the zone, it could rally to $1.55.
Filecoin (FIL) network upgrade coming in March
On March 14, the Filecoin v18 Hygge upgrade will begin. It will allow developers to deploy EVM contracts on the Filecoin mainnet via the Filecoin EVM.
Filecoin price confirms an ascending channel as support. If successful, this could also create a bullish engulfing candle. As long as the price trades above the channel, a bounce towards $9 is expected. A dip below the resistance line of the channel could cause the crypto asset to drop to $5.50.
VeChain (VET) presents HiVe
The HiVe summit will be held on March 4. This is a platform for discussion and idea generation for a future centered on Web3 and sustainable development. The VeChain Foundation presents the summit. VeChain founder Sunny Lu and VeChain Foundation CEO Antonio Senatore will be two of the keynote speakers.
VET price has rallied alongside an ascending support line since January 2023. The upward move was as high as $0.033 on February 20. While the price is lowering later, it is still trading above the ascending support line in the $0.027 support area. Therefore, the crypto market trend is considered bullish and an increase towards $0.040 is expected. However, a break from the ascending support line could lead to a decline towards $0.020.
Decentraland (MANA) hosts altcoin fashion week
Metaverse fashion week will be held March 28-31 in Decentraland. The event will feature interoperability between virtual worlds for the first time. Besides Decentraland, designers can appear in the Spatial and Over metastores.
Decentraland price has dropped below a descending resistance line since early February. Combined with the horizontal support area of $0.062, this creates a descending triangle that is considered a bearish reversal. If the price breaks through the support area, it could drop to the 0.618 Fib retracement level from the $0.50 low. However, a breakout from the line could lead to an increase towards $0.84.
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