In the midst of the strengthening market, several altcoins stand out as remarkable in the last week. The market, on the other hand, is showing signs of a bull run.
8 altcoins that analysts expect to rise
Threshold Network (T)
Threshold Network (T) was the top earner this week, with tokens up 80%. The increase comes after Coinbase said it will list the T token and trading started on January 26. The project is also expected to launch the printing feature for tBTC soon.
Threshold Network is a decentralized finance or DeFi service that offers features such as staking and liquidity provisioning. It allows users to deposit and use their Bitcoins on DeFi without a third party. cryptocoin.com As we mentioned, T started at 0.023 cents last week and is now worth about 0.044 cents.
Phantom (FTM)
Fantom’s FTM coin surged 27% after it announced it would be made available on Ecosystem Vault’s network on Jan. Vault is an on-chain fund that takes 10% of transaction fees to fund projects, ideas and creations.
The phantom community controls how funds are used. Also last week, Hector Network launched the NFT marketplace on Phantom. This Phantom-focused project launched Atlantica Market on January 23, as another big step forward for the network. FTM was trading around 38 cents at the beginning of last week and is currently hovering around 47 cents.
Avalanche (AVAX)
Avalanche’s AVAX increased 18% after adoption on multiple fronts. Several new DeFi integrations have been rolled out for the token over the past week, including those provided by transfer service SafeTransfer and Delta Prime DeFi. The altcoin is currently priced at around $20.50.
That said, Avalanche may be continuing to launch a partnership with Amazon Web Services that began in early January. AWS now fully supports Avalanche’s infrastructure and decentralized applications or dApp ecosystem.
Gala (GALA)
Gala project’s GALA token is up 16% after several big announcements last week. Initially, there are rumors of collaborations with Hollywood actors Mark Wahlberg and Dwayne “The Rock” Johnson, but no deals have been confirmed.
The Gala team also announced that they have plans for the game market, and that they have acquired the game studio Ember Entertainment. GALA started around 0.04 cents last week and is now valued around 0.052 cents.
Polygon (MATIC)
Polygon’s MATIC token rose more than 20% to $1.11 last week, thanks to the massive surge in network activity. Activity growth is so significant that Polygon has overtaken Ethereum in terms of daily active users. Polygon is now behind Binance’s BNB Chain in terms of daily active users.
Polygon is also gaining increased DeFi activity as the total locked value (TVL) or total value of crypto assets invested in the protocol reaches $872 million. This is a healthy amount at a time when the crypto market is considered to be on the decline.
Cardano (ADA)
The price of Cardano was largely believed to be dead as the asset maintained a very narrow trend from the very beginning. The price trend was largely unaffected by the prevailing market sentiment that could push the price above $0.5. However, these levels could be reached very soon as the ADA price seems to have inculcated significant bullish momentum.
This altcoin price is testing the critical 200-day MA levels on the previous trading day but failed to break through. The bears seem to have regained some control, but if the bulls regain their dominance, the price could rebound to the upside and initially rise above $0.4. This could push levels above $0.435 by the end of the week.
Ethereum (ETH)
Ethereum price is showing tremendous bullish momentum as levels break above the 200-day MA on the daily timeframe. After rejecting $1680, the RSI developed a bearish divergence as the price consolidated at tight levels. Therefore, after a short accumulation, it is thought that the price of ETH will rise above $ 1700 at the earliest.
However, it all comes down to Bitcoin bulls looking a bit exhausted right now. If they continue with a notable rise, ETH price could climb above the consolidation and climb above $1780 during the next bullish move.
Polkadot (DOT)
The Polkadot price rally seems to have lost a great deal of its strength after posting a notable rise in the first two weeks of 2023. The price is trading above the 200-day MA, which is acting as a strong support zone. Unfortunately, the RSI is falling due to fear of rejection that a bearish MACD crossover could accompany.
As the bears tried to regain their dominance, the trading volume dropped significantly. However, it is believed that after a short consolidation, prices will reverse the trend and rise rapidly in the coming days, reaching double digits in a short time.
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