With the Bitcoin price falling below $44,000, the balances in the altcoin market are changing. Dogecoin is now ranked 10th by market cap, and its rival, Avalanche (AVAX), just behind it, could pose a major threat to the meme coin. The turbulent state of the crypto market is also helping to quickly disperse kardollarsars. So, which altcoin projects did analisdollarser turn to at current levels? We get technical levels of 9 altcoins from 3 crypto experts…
Are Bitcoin bulls exhausted?
Our first analyst, Scott Melker, announced that he was positive for Bitcoin. The crypto strategist and trader describes Bitcoin trading as the “inch game” as he sees a jump on the horizon in two altcoin projects. Melker tells his 573,800 followers on Twitter that he expects Bitcoin to continue to move upwards on its way to the $52,956.27 target:
BTC trading can be an inch game. Walmart fake news almost got my stop swept away – about $30 missed. Now the price has increased by 10% and I am using 10x more leverage. Not bad.
Melker says that he continues his trades at low prices with more leverage and adds that there is a long-term bullish trend in Bitcoin based on his own analysis:
Graphics are a “meme”. We all love paintings. They are great for trading but at the end of the day Bitcoin will rise because it is a deflationary asset in an inflationary world. There is no reason for Bitcoin to be bearish in the long run.
Scott Melker says he has altcoin TRX on his radar
Looking at other cryptocurrencies, one altcoin on Melker’s radar is the Blockchain-based operating system Tron (TRX). The crypto analyst expects Tron to pull back slightly before removing the sudden resistance at $0.11 and rising to $0.18:
What you want is to see some sort of sign here ($0.09), then up and in this region ($0.11) and even buy at these highs ($0.12).
Altcoin project VeChain (VET) on analyst’s list
Next up is the supply blockchain management platform VeChain (VET), which the crypto strategist says needs to break its immediate resistance to start a rise above $0.27. Melker expects these levels at the VET price:
At this point, I really want to be above $0.15… This is a very important resistance… VET is a huge project, real partnerships. It will be extremely good.
Coin Bureau analisdollarseri focuses on Cardano
Coin Bureau analystsdollarseries says that Cardano could spark a massive new wave of crypto innovations that will rival Ethereum’s launch. The crypto analyst, nicknamed Guy, says that Cardano offers tremendous opportunities to its 1.36 million subscribers, with many decentralized applications (DApps) to be launched on mainet:
We are currently on the verge of another padoller in crypto innovation, the likes of which have not been seen since the launch of Ethereum in 2015, and early adopters will continue to reap the biggest rewards.
Analyst Guy says that one reason users and developers prefer Cardano is because of its unique staking system, which according to him makes it one of the most decentralized cryptocurrencies on the market:
If there are too many Cardano in a single pool, the staking rewards are reduced. This promotes decentralization…ADA’s staking rewards are currently around 4.5% per year, and the absence of any staking locks or unlock times makes it effortless to do so, so we account for around 70% of ADA’s supply. this is the reason why it is currently staking. This makes Cardano the highest value blockchain based on active shares.
Analyst warns about these issues for ADA:
Alongside the positive news, Guy warns of what could be a double-edged sword for developers of ADA, which has the third-largest crypto user base:
Cardano has over 1.6 million users and its community is arguably the most active in cryptocurrency. It’s incredible, but it’s also a developer’s worst nightmare because they know that their DApp can’t handle this kind of traffic… As a result of this fact, almost every Cardano project delays its launch to stress-test their infrastructure because if they deploy their DApps now, they will be ruined.
Aaron Arnold listed 5 altcoin projects
Our latest analyst, crypto trader and YouTube phenom Aaron Arnold, highlights the top five altcoin projects as he predicts the crypto market is about to go crazy. In a recent YouTube video, Arnold tells his 998,000 subscribers that he is optimistic about decentralized Oracle Chainlink:
Chainlink is a kind of blue chip at work. No other oracle crypto like Chainlink makes it as big as Chainlink… LINK seems to be preparing for an exit. So Chainlink, yes, I am bullish as long as we are in a bull cycle.
Aaron Arnold thinks DOT can follow SOL
By looking at Polkadot (DOT), the analyst cites a crypto strategist who believes that the interoperable blockchain will follow in the footsteps of the padoller altcoin Solana (SOL).
This particular analyst is comparing it, saying that DOT could make a move like Solana. “I get great Solana vibe from DOT”. It’s been downvoted a few more times, but I think it’s the trend (weekly candle close), its relationship to the previous all-time high, and the fact that it didn’t really pump the whole run. I hope it will shine like SOL in the next few weeks.
Golden cross approaching in altcoin EGLD
As for Elrond (EGLD), the crypto trader highlights that the internet-scale blockchain has recently formed a golden cross, a bullish signal where the 50-day transactional average (MA) has risen above the 200-day MA. Arnold quotes another analyst who said that during the previous two golden crosses, EGLD reached ATH in 62 days. Arnold said the analyst predicts EGLD will rise as high as $2,500 on October 18.
Next up is Ethereum rival Avalanche (AVAX), which the crypto analyst says is gaining momentum as more users flock to the smart contract platform. Aaron Arnold compares Avalanche infrastructure to Solana:
We’ve seen what happened to Solana and AVAX, I think it’s very similar to Solana. AVAX usually wins in network, popularity and price action. What they do seems to attract many (users).
Then there is the altcoin MINA
Cryptocoin. com The last altcoin project on Arnold’s radar, whose analysis we share, is the privacy-focused Mina Protocol (MINA), which he says is backed by some of the best venture capital companies in the crypto market. He adds that long-term MINA holders have little reason to sell their crypto due to the staking mechanics:
I don’t think there will be many sales anytime soon because the method of staking, the highest rewards for stakers occurred in the first eight months or (one) year. So there’s really no reason to sell unless you’re always making a profit but I think a lot of people want these betting rewards.