The fact that the bears do not give up on the resistance levels continues to weaken the cryptocurrency market. Despite the vendors taking the stage since the beginning of October, a few altcoins like MATIC and TRON are eyeing November.
7 altcoins to watch closely in Q4 of 2022
Despite all the sales, the TRON price has maintained its position since the beginning of the year. The altcoin maintains a remarkably stable price movement. It has proven quite strong by trading above local support in the last 30 days. 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 stretching from the $3 high to $0.3 high. Amid the heavy bearish impact, however, the bulls have yet to leave the scene. The first target of buyers in a possible rally will be the psychological threshold of $1. MATIC has already shown 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 massively bullish for quite some time. The altcoin is among the top 5 cryptos to compete with USDCoin’s market cap. Therefore, BNB price is expected to regain the initial $300 levels in the coming days. This keeps the bulls’ $500 target up to date by the end of the year.
Good 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 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 target after this level is at $3.
OMG Network (OMG)
OMG, after climbing from lows to around $1.46, it is moving sideways. It has been repeatedly rejected at $1.65 recently. But despite that, it is currently in a position where it can ignite a solid uptrend. With a possible rally, the price will eventually rise above $1.7, targeting $1.72 initially and then $1.75.
Scale Network (SKALE)
Finally, SKALE fell sharply amid current market conditions. It is currently trading at the same levels as a week ago. Therefore, it can reverse the price trend at any date from now. This will spark an early recovery. If the bulls manage to stay at these levels, a notable rally could push the price above $0.04 before the end of October 2022. Analyst Delma Wilson, however, does not rule out a lower SKL price amid toughening market conditions.
The cryptocurrency market has been trading in a tight range for months due to harsh macro conditions. cryptocoin.comAs you follow, some analysts predict that it will change as well.
