Keep Your Eyes on These 6 Altcoins This Week: Here are the Prospects!

The cryptocurrency market starts the new week with a little less enthusiasm. There are many reasons why the rally was halted, including the Fed’s 75 basis point rate hike. In this article, let’s take a look at 6 altcoin projects and technical levels that will require close monitoring over the next week.

Here are 6 altcoins to watch in the second week of November

Polygon (MATIC)

MATIC is currently one of the highest earners of the last 24 hours. At the same time, MATIC had the smoothest performance since last week. The catalyst for the rally was Meta’s selection of Polygon, JP Morgan’s first Defi process transaction. MATIC also performed a successful “golden cross” in the technical part. The 50-day SMA has crossed the 200-day SMA on the MATIC/USD daily price chart. Analysts see this as a bullish development. Also, open interest for MATIC doubled at the end of last week to $415 million from the previous $209 million.

Shiba Inu (SHIB)

SHIB is currently one of the most recognizable projects on the market. The project has increased the use of the SHIB token by opening multiple new avenues this year. They released a new card game that got the community moving. However, the most valuable version of the year will appear in the coming months. Shiba Inu’s Shibarium layer-2 network is getting the full attention of the community. While the launch hasn’t reached the third quarter of 2022, the first deadline, multiple people are hoping it will happen very soon. The launch of Shibarium has the potential to bring huge profits to SHIB holders.

Ripple (XRP)

The sixth-largest crypto token by market cap saw a significant increase in price last Friday. Additionally, Ripple Labs, the firm that uses the XRP Ledger, is in a heated battle with the SEC. Many expect the firm to rise to the top. This triggers the momentum on the upper side in the XRP price. Although the decision is still months away, people are already starting to speculate.

It is clear that in the next few weeks, positive news from the case will be the strongest catalyst behind the price. Analysts expect the price to move towards the $0.60 and $0.95 region in such a case.

Cardano (ADA)

ADA has been on the decline in recent days while the market has been rising. However, in bearish or neutral steps, it is common for ADA to lose value. Over the past few days, we have seen that the ADA price may rise sharply again. ADA has gained over 15% in the last 7 days. In addition, Cardano’s network and the number of smart contracts are growing rapidly. Analysts say it will recapture the $0.55 to $0.65 region by the end of the year.

Avalanche (AVAX)

Avalanche’s price has dropped almost 90% since April 2022. During the process, it moved away from the middle of the top 15 compared to the market price. In a bullish environment, Avalanche in particular is one of the prime candidates for a bull run again. As a scalable Blockchain, Avalanche is one of the recognized projects. The analyst expects AVAX price to defend the $14 region. They expect a rise from this region to mid-$30 to $40 by the end of 2022.

aptos (APT)

Koindeks.com As you follow, Aptos was one of the altcoin projects that required close monitoring in recent months. A newcomer to the crypto scene, APT had mixed feelings after its release. Aptos uses technology originally designed for Diem, the cryptocurrency released by Meta. However, the project was abandoned entirely due to regulatory restrictions. In the next few weeks, more hype may build up around Aptos. Therefore, analysts claim that the APT price will rise even higher with the crypto market. The latest price target is the $15 to $25 range.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisment

Most Popular