The bears’ refusal to give up their resistance levels continues to weaken the cryptocurrency market. Despite sellers taking the stage since the beginning of October, a few altcoins like MATIC and TRON are looking forward to November.
7 altcoins to watch closely in Q4 of 2022
The TRON price has maintained its position since the beginning of the year, despite all the sales. Altcoin maintains a remarkably stable price movement. In the last 30 days, it has proven its strength by seeing a process above the local basis. Analyst Sahana Vibhute expects the price to rise 15% in the coming weeks, surpassing the $0.07 resistance, when the bulls take the stage again.
MATIC, XRP and BNB other names pointing to a strong final quarter
In particular, MATIC is trading in a sharp downtrend from the $3 high to $0.3 high. However, amid the heavy bearish influence, the bulls have not left the scene now. The primary aim of buyers in a possible rally will be the $1 spiritual threshold. MATIC actually showed that it is still standing, rising by double digits last week. Analyst Vibhute expects this momentum to continue in the coming months.
On the other hand, BNB Coin has had an opportunity to recover its strength as it has been on the rise for quite some time now. The altcoin is in the middle of the top 5 cryptos competing with USDCoin’s market cap. Therefore, BNB price is expected to regain the initial $300 levels in the coming days. That keeps the bulls’ aim for $500 by the end of the year present.
Nice Ethereum-based second-tier projects for the end of the year
In the second part, let’s list potential projects from this category, narrowing the list to Ethereum-based L2. The Loopring, which has been in a downtrend for months, is forming a bearish double top formation. Therefore, it suggests a minor pullback to test the local bottoms at around $0.24. Analyst Delma Wilson said $0.28 would be critical for the bulls to regain the bullish momentum from this level. The technical analyst’s next goal after this level is $3.
OMG Network (OMG)
OMG, after climbing from the bases to around $1.46, it is moving sideways. Recently it was repeatedly rejected at $1.65. But despite that, it is currently in a position to ignite a solid uptrend. With a possible rise, the price will eventually rise above $1.7, targeting $1.72 initially and then $1.75.
Scale Network (SKALE)
Finally, SKALE experienced a sharp decline amid current market conditions. He is currently seeing processes at one-to-one levels a week ago. Therefore, it can reverse the price trend on a random date from now on. This will ignite an early recovery. If the bulls manage to stay at these levels, a significant rally could push the price above $0.04 before the end of October 2022. Analyst Delma Wilson, however, is keeping an eye on a lower SKL price amid toughening market conditions.
The cryptocurrency market has been trading in a narrow range for months due to harsh macro conditions. Koindeks.comAs you follow, some analysts predict that it will change as well.