In this article, we will cover the expectations for which altcoins will increase in price in the near future. There are cryptocurrencies that are considered as the bottom level for now. There is a possibility that the activity in the future will bring about a price increase. Here are the names of those coins.
Cardano’s price increase is due to market dynamics
Among altcoins, Cardano’s (ADA) recent uptrend is due to external factors rather than token-specific developments or fundamentals. For example, the increase in the number of ADA wallets has yet to have a direct impact on the token’s price, as data from Cardano Blockchain Insights since late May shows. Interestingly, the current market dynamics are intertwined with the notable increase in institutional interest in Bitcoin (BTC).
Last week, this increased interest was exemplified by BlackRock’s application to launch the first US spot BTC exchange-traded fund (ETF). As a result, Cardano’s recent rise should be viewed as part of a broader market trend driven by institutional attention focused on Bitcoin. It is crucial to monitor how these foreign market events affect Cardano’s price and whether other developments in the crypto ecosystem will contribute to its future growth and performance.
Chainlink recovery potential within altcoins
Among altcoins, LINK is one of the altcoins that gained popularity in 2020 and 2021, when decentralized finance (DeFi) protocols were increasingly adopted. Today, the cryptocurrency has taken a hit from the persistent bearish trend across the entire industry. However, analyst Daan Crypto points out that Chainlink could rally and trend towards new year highs. Recently, the price of LINK has dropped from as high as $9.50. It also created an Average Range at these levels.
In other words, $9.50 is acting as heavy resistance for the price of LINK in 2023. During LINK’s downtrend, the analyst believes the bulls managed to defend $5.50. Accordingly, this indicates a positive forecast for the cryptocurrency.
The chart above shows what would happen if the LINK bulls were able to sustain the momentum. Accordingly, it shows that the token can rise up to $ 10. This target corresponds to the top of the channel when the token has been in motion for over a year. However, investors should see that the token fails to rise above this resistance. It should also not be forgotten that after reaching this peak, he always recorded big losses. In the short-term, LINK looks set to continue its uptrend as conditions in the crypto market are favorable.
FLOKI’s price increase and the factors behind it
The recent rise in the price of FLOKI among altcoins can be attributed to several factors. One of the main reasons is strong buying accumulation around support prices, which are usually followed by strong uptrends. This is a common pattern observed in the market, where a period of consolidation is usually followed by an uptrend. Another important factor contributing to FLOKI’s price increase is the latest updates shared by the official FLOKI Twitter account.
According to the tweet, the FLOKI team is close to delivering on a few key promises on the 2023 roadmap. Among them is a major upgrade for FlokiFi Locker. There is also the integration of DeFi lending and borrowing. On the other hand, there are staking, the redesign of FlokiFi, and the launch of Project TL and Valhalla mainnet. Project TL aims to make it easy for anyone to start their crypto venture. Valhalla mainnet will integrate the FLOKI token into an in-game economy, creating strong demand and utility for the token.
Price increase of PEPE among altcoins and looking into the future
The price of PEPE among altcoins has seen a huge increase in recent days. The price of PEPE Coin has increased by more than 35% in the last 7 days. This allowed PEPE Coin to rise more than Bitcoin, which has risen 20% in the last 7 days. PEPE price rose to $0.0000014. This price is still at the mid-May level. At the peak, at the beginning of May, the price was at an all-time high of $0.0000037. However, the price is now much higher than it was 2 months ago.
cryptocoin.com When we look at it as a whole, the price of PEPE has managed to rise again in the last days. Because after the increases in the last few days, the crisis of the crypto market is over. The strong rise in Bitcoin triggered the recovery in many altcoins. The particularly strong rise in the price of PEPE in recent days makes sense. Because PEPE Coin is one of the BRC-20 tokens built on the Bitcoin blockchain. This group of coins received greater attention in April and early May.
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