The broader crypto space has been as busy as a beaver since the start of the quarter. The primary coins of the market Bitcoin and Ethereum have seen phenomenal growth of over 50%. As they ran out of breath after an exhaustive run, meme coin SHIB ruled the space with over 800% gains in a stretch of 20 days.
While the coin has been sharply volatile, the cash out flow could shift towards the prime altcoins with decent market cap and standard fundamentals. Notably, Polkadot (DOT), AAVE, MATIC and the Graph have solid potential to register their higher highs!
Polkadot (DOT) Price Analysis:
The Polkadot ecosystem has been creating a lot of media buzz since its announcement on Parachain auctions. As the event is scheduled to take place from November to December, whooping predictions are running around the space for DOT price.
The token has been managing the steady uptrend since the beginning of July. And, followed by the event’s announcement, the altcoin took another leg up to $41.76. The DOT price has been consolidating around the crucial resistance of $42.86 with 2.78% profits round the clock. We can expect the potential breakout from its previous ATH in the next couple of days.
The token has surged by more than 60 to 70% in the past two bull runs. Hence, if the same cycle replicates, then the asset could soar beyond $61.25. On the contrary, the altcoin might settle between $32.78 to $34.53, if parachain auction falls for “Buy the Rumour, Sell the News”.
Polygon (MATIC) Price Analysis:
Matic price action has been extremely volatile throughout the year. However, the altcoin has been breaking higher highs since the start of the quarter. One day chart from the trading view highlighted asset’s break out from the double wedge pattern at $1.732.
Going further, altcoin is attempting hard to break out at immediate resistance of $2.2. If a significant number of buyers jump in, we can expect Matic price to record a new ATH. On the contrary, the altcoin would consolidate around $1.82, if the sellers start to dominate in the next couple of hours.
AAVE Price Analysis:
AAVE is a decentralised platform that enables traders to lend and borrow crypto assets. The altcoin has been overlooked since the May market crash. However, the AAVE price is experiencing a steady rise by recording lower highs since June. Initially, the altcoin has broken out from $187.17 in late June. Managing the study uptrend, the asset continued its run to form lower highs at $223.61 and $260.86 in the next consecutive months.
The digital coin has been currently retesting its support around $340. Potential breakout from here could uplift the price momentum to next immediate resistance of $414.15. On the flipside, the price could drop to $275.23 if the altcoin fails to bring any of the upgrade or collaboration in the near term.
Collectively, the market leaders of space sailed through significant gains kindling a bull season. As they seem to have exhausted after the run, the cash flow could now shift to altcoins with larger market caps and strong fundamentals. On the other hand, popular analyst Jasson Pizzano suggested the community to keep an eye on the aforementioned coins to earn good profits.
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