Analysts shared price predictions by analyzing altcoins listed on the Binance exchange. Accordingly, they expect a rise for 6 altcoins and a decline for 2 altcoins. So what levels should investors pay attention to?
“These 6 altcoins will jump”
According to analysts, 6 altcoins listed on the Binance exchange will witness a price jump. These; Cosmos (ATOM), Polkadot (DOT), Compound (COMP), Terra Classic (LUNC), Ethereum (ETH), and Reserve Token (RSV). Here are the developments and price levels you should follow…
Cosmos (ATOM)
The rest of the market was heavily bearish in September. However, Cosmos (ATOM) remained strong for most of the month. It continued to gain while the rest of the market stagnated. If this continues, investors should expect new highs for the altcoin in the short term. Besides the price action of ATOM, which signals a potential rally, there are some developments in the coming days. For example, the project will launch Cosmos Interchain Security (ICS).
Polkadot (DOT)
Polkadot (DOT) is one of the top cryptocurrencies with big news. He’s also currently responding quite well to these news. The big news about Polkadot is that Tether is launching on Polkadot. The price hasn’t made any major moves yet. However, the DOT appears to be forming a potential breakout pattern on the weekly charts. Additionally, the broader market could gain momentum, especially once Bitcoin breaks $20,000. If BTC rises, it’s possible for Polkadot to start October 2022 with double or even triple digit gains.
Compound (COMP)
Compound (COMP) started to gain upward momentum last week. There is no important news about altcoin yet. But the increased price momentum will likely attract investors struggling to make any gains in a highly depressed market. Such buying pressure may be strengthened by the fact that Compound is not just a random altcoin. It is one of the oldest and well-known DeFi cryptocurrencies on the market today. Cryptocurrency also has an extremely low supply.
Terra Classic (LUNC)
Terra Classic (LUNC), listed on Binance, fell sharply after Interpol issued a red alert about Terra founder Do Kwon. But now, the Terra Classic seems to have gotten over that shock. Altcoin hit double digits. It has the power to rekindle momentum around Terra Classic. If that happens, it will close the week among the top performing cryptocurrencies and start October with a good performance.
Ethereum (ETH)
According to crypto analyst Altcoin Sherpa, Ethereum is gaining strength against Bitcoin. A rising ETH/BTC chart shows that Ethereum will gain more than Bitcoin. At the time of writing, the ETH/BTC trading pair is trading at 0.0695 BTC ($1,345) above the region Altcoin Sherpa referred to as the range. Accordingly, the leading altcoin may start to gain profits in the near future.
Reserve Rights Token (RSV)
Meanwhile, the analyst also expects a rise for the Reserve Rights Token (RSV). cryptocoin.com As we reported, RSV aims to facilitate the stabilization of asset-backed stablecoins. According to altcoin Sherpa, RSV says it started a rally of around 30% from its current prices. The uptrend will continue up to the 200-day EMA at $0.0099.
“These 2 cryptocurrencies are giving bearish signals”
Ripple (XPR)
The analyst, who also looks at Ripple (XRP), says he expects a drop in the sixth-largest crypto by market capitalization at the moment. But he adds that this will change if Bitcoin shows signs of strength. According to the analyst, the 200-day EMA is preparing for a breakout. However, the size of the gap between the previous price and the EMA draws attention. The breakout due to this gap will likely be to the downside. However, this may change with a rise in BTC price.
Algorand (ALGO)
Altcoin Sherpa is currently examining Ethereum rival Algorand (ALGO), which is listed on the Binance exchange. According to him, ALGO price is pulling lower. At the time of writing, the coin is changing hands for $0.368, down 4.59% in the last 24 hours. According to the analyst, $0.35 and below offer a buying opportunity in ALGO.
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