Despite the concerns in the altcoin market, well-known traders shared four projects that they see as “a strong buyback at the moment.” Let’s take a look at the latest analysis by Altcoin Sherpa and Olivia Brooke, keeping in mind that the predictions are not exact.
Altcoin Sherpa awaits next news on LINK, MATIC and these two coins
An anonymous analyst known as Altcoin Sherpa says Chainlink is currently showing a “promising” outlook. In their latest analysis, Sherpa, together with LINK, uncovered the next catalysts for MATIC, CHZ and DYDX. The analyst summarizes the current market outlook as follows:
It’s best to keep an eye on everything and wait on the sidelines. But if you want to trade actively, look for different news + purchasing power in this market
Sherpa says the upcoming news calendar was instrumental in choosing these projects:
- Polygon (MATIC) – Business development: Disney, Meta and JPMorgan partnerships
- Chiliz (CHZ) – Upcoming FIFA World Cup
- dYdX (DYDX) – Featured as centralized exchanges crashed
- Chainlink (LINK) – Looks good technically
Chainlink (LINK)
According to the analyst’s estimation, the chart is promising for Chainlink. Despite the short-term market turbulence and price fluctuations, Chainlink still creates connections among the crypto community. This week, the leading smart contract oracle network announced collaborations with the NFT ecosystem and the GameFi project.
Polygon (MATIC)
Polygon has laid out a positive picture for the long run. But when FTX’s liquidity crunch emerged, it gained a sharp downtrend. Over a 24-hour period, MATIC dropped to $0.76 after meeting resistance at around $1.25. It is currently trading for under $1. The $1 level will be important in the long run as the MATIC weekly chart sets higher highs.
Chiliz (CHZ)
CHZ is currently struggling to rise above $0.2113 amid recent market conditions. Its price melted to $0.2015 at one point.
dYdX (DYDX)
DYDX was the DEX token that Sherpa released during the crash of centralized exchanges. It is currently trading at $1.89, down 6% from the last 24 hours.
Polygon poised to take down Cardano after top partnerships
Outside of the Meta partnership, Polygon has collaborated with the Monetary Authority of Singapore (MAS). The Singaporean regulator has made the first DeFi transactions at Polygon. The pilot was conducted in collaboration with global investment bank JP Morgan as part of MAS’ Project Guardian.
According to crypto market analysis platform Santiment, the announcements and growing popularity of Polygon, blockchain-powered Reddit digital collectible avatars, are driving social sentiment at MATIC. This led to a rise in its price and a decrease in supply in the stock markets.
MATIC was at the forefront of its rivals in the midst of the FTX crisis. It currently sits at 10th place, just behind Cardano. It’s gaining momentum on an upcoming Nov. 18 news in ADA. It is currently one step ahead of MATIC with a market cap difference of $2 million.
Meanwhile, Solana, one of Polygon’s strongest opponents, is now out of the loop. The FTX-backed altcoin is currently trading at around $14 in 13th place. Its collapse came despite the Google partnership, which we referred to as Kriptokoin.com.
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