Cryptocurrency market has crashed recently and Bitcoin is leading as usual. However, 6 crypto experts have listed 7 altcoin projects that could quickly recover after the correction. We start with the latest state of the market and continue with up-to-date analysis…

What happened in the altcoin market?

Since the beginning of the 4th week of September, the market cap of cryptocurrencies has decreased by 10%, or about $220 billion, which has taken quite a hit in just a few days. Therefore, the crash brought its market value back below $2 trillion. According to CoinGecko, at the time of writing, it was currently around $1.93 trillion, its lowest level for more than a month. Also, the drop was led by Bitcoin and altcoin projects are hit harder as usual, but there may be a few buying opportunities in this dip.

Altcoin Polkadot (DOT) could be a good choice according to the analyst

According to analyst Martin Young, DOT needs to be mentioned. It is currently 41% cheaper than its all-time high of $50 in mid-May. The ecosystem is constantly growing with new parachain projects added every few weeks. Its high throughput network could provide a serious competitor to Ethereum for DeFi; This could be good news for DOT, which is currently priced under $30 with a market cap of $31.1 billion and trading volume of $3.1 billion 24 hours.

Algorand (ALGO)

ALGO is another altcoin project to watch out for, according to Young. With a 52% discount on its ATH, ALGO is currently trading at $1.82. In June 2021, Arrington Capital announced that it will invest $100 million in projects built on the Algorand Blockchain. When recovery comes, significant investments and new partnerships can be successful. Currently, ALGO has a 24-hour trading volume of $1 billion and a market cap of $9.9 billion.

According to the analyst, Elrond (EGLD) should be taken to the radars

Elrond is another ecosystem that is often overlooked. EGLD is currently 37% off its $205 peak, so this could soon be the perfect time to increase its value, according to the analyst. Earlier this year, Elrond launched Maiar, its global payment app and digital wallet. The momentum this year was all about high-throughput Blockchain, and Elrond is up there with the rest. In addition, the cross-chain sharding protocol Harmony gained great momentum in 2021, reaching new transaction records. It performed equally well to ONE EGLD and could be a token to watch with a 42% discount on ATH.

Polygon (MATIC)

The next altcoin MATIC is one of the Layer 2 Blockchain solutions that has grown tremendously this year. The token, still called MATIC, has been relatively lackluster recently and has dropped to $1. Any dip below this could be a good entry point. MATIC is down 56% from ATH, and Tier 2’s momentum isn’t likely to slow anytime before Ethereum’s blockchain converges next year. Currently, MATIC has a 24-hour trading volume of $1.2 billion and a market cap of $7.7 billion.

Chainlink (LINK) technical analysis

Oracle service provider Chainlink (LINK) has become one of the strongest altcoin projects in the crypto space. The LINK cryptocurrency has been actively participating in the altcoin market rally for the past few weeks. Earlier this month, Chainlink (LINK) rallied as high as $35, but has been trending downwards since then. On technical charts, LINK cryptocurrency is in descending triangle pattern. According to market analysts, this pattern often reverses. Michael Taylor:

LINK is still in descending triangle pattern. This pattern is breaking up more often, let’s see if we can bounce off support and run into resistance.

https://twitter. com/micahhtaylor/status/1439800126483042304

Polkadot (DOT)

DOT, which is on Martin Young’s list, can be found on the list of another Twitter analyst, MoonShot Examiner. Polkadot has been in the news lately for all good reasons. Developments in its ecosystem and several parachain auctions saw the DOT price scam rise to $38 last week. Polkadot’s integration with other Defi platforms and protocols is also coming off strong. Meaning DOT is finding a solid use case in the broader crypto market. In addition, Polkadot has been gaining strong institutional acceptance lately. Last week, crypto market analyst MoonShot Examiner said that DOT could repeat Solana’s recent market rally in the coming weeks:

I’m getting big SOL vibes from DOT. It’s been rejected a few more times but trajectory over previous ATH (weekly candle close) and having not really pumped this run, I’m hoping it can shine like SOL in the next few weeks.

https://twitter. com/TheBobCostas/status/1437186974977306627

Chris chooses EGLD in Cap

On Chris Cap’s list at Elrond (EGLD). The project has been in the news for its potential to process transactions faster using sharg. This Blockchain aims to be the technology ecosystem of the new age internet. Elrond Blockchain finds its application in FinTech, Internet of Things (IoT), and decentralized finance (DeFi). Moreover, the smart contract execution platform can process up to 15,000 transactions per second (TPS) with a range of transaction costs as low as $0.001. On the technical chart, ELGD is forming a dolden cross pattern. According to historical trends, ELGD price could pull 10 times more than current levels. Chris Cap said of EGLD:

The last two times at EGLD we reached ATH 62 days after the golden cross. Applying the same parameters, we should reach between $2000 and $2500 around October 18th. I cant believe…

https://twitter. com/ChrisCa93099037/status/1438214648076111874

Avalanche (AVAX)

Another Ethereum alternative and Solana-rival Avalanche (AVAX) has been in the news lately. Last week, Avalanche topped the list of the top fifteen cryptocurrencies by market cap, reaching an all-time high of $68. AVAX has recorded over 500% gains in the last two months since mid-July, thus emerging as the top competitor in the altcoin space. While AVAX dropped below $60 during Monday’s market correction, it still managed to climb above $60. With the AVAX selection, B Doggy shared these technical analysis:

Next leg on the way to $100 by $73.50… SL = $60.40

https://twitter. com/BDoggy19/status/1438791100697882626

Mina (MINA)

Next is MINA. Mina is backed by some of the top crypto VC firms such as Coinbase Ventures and Three Arrows Capital. According to AD, since Mina is a relatively new project and the highest rewards are available in the first eight months of the crypto project, those who have staked will be in a rush to buy more MINA cryptos.

https://twitter. com/EriksInvestor/status/1437719786214019072

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Michael Lewis


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