The top 8 altcoins that analysts expect to rise and need attention this week have been announced.
This altcoin will continue to rise
A widely followed analyst says he sees more potential for smart contract platform Solana (SOL) and two tokens flying under the radar. Nicknamed Cantering Clark, he told his 158,900 Twitter followers that traders who continue to bet against their Ethereum rival will likely fall out of their positions in a short squeeze.
A short squeeze occurs when traders borrowing an asset at a certain price have to repurchase the assets they borrowed in hopes that the difference will be smaller, while momentum moves against them, triggering more rallies.
STEPN moves to win
Next up is STEPN (GMT), the move-for-profit token that it predicts will most likely rise towards its target of $6.63.
“They are still active on social networks and I expect them to start making announcements and raising prices again to capitalize on this rally,” said analyst Clark. The usual rollback and retest pattern for all altcoins is also on the table.’ said. As we stated as Kriptokoin.com, GMT is traded at $ 0.49.
Scaling solution Optimism
Another cryptocurrency on the radar of traders is Optimism (OP), a Layer-2 scaling solution for Ethereum (ETH). According to Cantering Clark, he expects the OP to hit all-time highs.
The analyst said, ‘OP is about to go into price discovery. This means that anyone who has sold before has been wrong, and new highs usually bring input from all types of traders. All-time high + expected value retracement after a long period of time.’ said. The OP is changing hands for $2.21 at the time of writing, just above the trader’s $2 resistance area.
Rocket Pool draws attention in the crypto space
Recently listed on the Binance exchange, Rocket Pool (RPL) has attracted attention in the crypto space. It is one of the top five DeFi tokens to consider as the token is showing signs of growth. This altcoin took the third place on the top earners list for today with an increase of 8.66% to $34.40.
The weekly opening price of the token was $28. Shortly after the market opened, RPL entered the red zone. However, RPL rebounded and started trading in the green zone. On the fifth day of the week, RPL rose from $32.36 to $42.62 and was listed on Binance. However, RPL has lost momentum and is currently priced at $34.16 and is up 7.86% in the last 24 hours.
Avalanche not off to a good start
Avalanche (AVAX) did not get off to a great start this week as the market fell into the red zone a few hours after opening. It reached its lowest price of $15.42. Amid massive bull pressure, AVAX managed to fluctuate in the $16-17 range. However, the bulls are currently losing control of AVAX and the bears are taking over.
Uniswap started the week with excitement
It showed exponential growth, touching $6.90 from the opening market price of $6.05 a few hours after the market opened for the week. The bears were able to control the bulls in a narrow range of $6.40 – $6.60 for the first four days.
But on the fifth day of the week, the bears were too strong for the bulls as the UNI dropped from $6.78 to 6.09 just above its opening price. The bulls still haven’t gotten the bears off the hook as UNI is trading marginally above the red zone, a feature that the best crypto will display.
Bulls come to the rescue of Chainlink
Given the behavior of UNI and Chain LINK over the past week, the chart shows similar characteristics. LINK opened the market at $ 6.30 and just like UNI, it experienced a short exponential rise on the first day of the week. From day two to day five, this altcoin consolidated, but fell from $6.9 to $6.39 within hours on day five. Still, the bulls came to the rescue of LINK and prevented it from falling below $6.30.
Lido DAO reaches high levels
Lido DAO (LDO) started the week at $1.92. It reached higher highs by the second, reaching a maximum of $2.42. However, after LDO overcame the bump, it started to decline and prices gradually fell over the next few days.
With each fall, the bulls tried to get stronger, but the bears were too strong; therefore prices continued to fall over the next few days. LDO is currently trading at $1.98 and is up 4.45% in the last 24 hours.
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