The cryptocurrency market is in a strong position for a comeback after a long hiatus. Experienced analysts identify 6 projects that will lead the altcoin market in a rapid recovery.
These altcoin projects have 100x potential in the next bull
An updated list prepared by the technical analyst suggested that Cardano could recover quickly in the coming periods. ADA bulls are currently trading above the 0.3914 resistance level. The analyst expects ADA price to climb to $0.44 in a possible bullish situation.
cryptocoin.com As we reported, Cardano recently announced a series of ecosystem developments. If the crypto market continues to show positive returns, experts think the price of ADA could rise again in February.
Avalanche (AVAX)
The second-ranked AVAX may well be in a position to rally with its recently reclaimed $20.00 price. Analysts expect AVAX to rise to $22 and $24 after this level.
Polygon (MATIC)
Polygon has been at the top of the list of projects with high earning potential for a long time. MATIC price jumped from $0.75 to $1.14 with strong momentum in the last day. Analysts say that $1.30 will be critical in a possible rally. MATIC can take this level back with technical comfort. MATIC bulls will then target old tops around $1.5.
BNB Coin (BNB)
BNB is one of the last strongest cryptocurrencies from Bitcoin and Ethereum. It is currently trading at around $310, at #4 by market cap. Analysts say it has enough strength to surpass the $319 zone. In such a case, the bulls will try to push BNB Coin higher in the coming days.
Dogecoin (DOGE)
The leading meme coin has surpassed the $0.08 resistance zone that it has been struggling to break lately. The short-lived rally ended above $0.09. Dogecoin is currently trading at $0.08848 at the 10th place by market cap. Analysts think current levels set a good footing for $0.11.
Ethereum (ETH)
Ethereum, the second largest cryptocurrency by market cap, is gaining popularity due to its use as the backbone of decentralized finance (DeFi) applications. It also shows positive returns in terms of price and is expected to increase further through February 2023. Technically, the uptrend will end higher if prices break the descending triangle shown in figure 1 below.
All in all, current levels can be a great way to buy altcoins, diversify your investment portfolio and potentially generate high returns. However, it’s important to do a thorough analysis and keep in mind to place stop-loss triggers in case the market goes bad. Everyone in the crypto market has been following FTX and the bankruptcy it caused. Any new negative discovery could trigger a mid-term sell-off.
