November 12, 2021 / Forecasts

TOP-3 Altcoins To Bring Profit In The Next Two Weeks

crypto

This article includes well-known cryptocurrencies: Cardano (ADA), Chainlink (LINK), and Cosmos (ATOM). Let’s consider what factors speak about the imminent growth of their prices, and whether there is a news reason for this.

We warn you that everything said below is not financial advice. Before you buy or sell anything, you must do your own research and make a decision.

ATOM

The first altcoin is Cosmos (ATOM). The ATOM price after a new high is in accumulation according to the ascending triangle pattern, when we have stable highs, but the lows are getting bigger. Such patterns, as a rule, breakthrough in the direction of the previous trend, and this is up. The main resistance is at $ 44, at the upper border of the triangle, and the target on the exit from this pattern will lead the price of Cosmos to a new high of $ 58, which is equal to a rise of 63%. Also, signals for growth in the near future are given by the relative strength index and a personal indicator from EllioTrades Crypto.

Note that the other day there was a major conference dedicated exclusively to Cosmos blockchain, which was broadcast from Lisbon. Interesting news about the work of the developers of the main decentralized exchange Osmosis in the Cosmos network on solving important problems for such platforms, when by reading data from the blockchain, you can beat other traders, we are acting proactively. For some, this may not be a problem, but in fact, as decentralized finance develops, traders’ losses grow, and if Osmosis finds a solution, they can become market leaders by attracting new users.

Recall that the idea of ​​Cosmos is to build an ecosystem of many blockchains, and all their users in the future will trade on Osmosis. It is also good news that the well-known Crypto.com project is launching its beta network for NFT and the creation of a metauniverse based on Cosmos engine, and in the future it will become part of the overall ecosystem.

And another bonus that can help increase the price of ATOM token is the news about the imminent holding of the largest hackathon for development based on Cosmos with a prize pool of $ 1 million, for which more than 1000 developers have already registered.

LINK

The TOP-2 coin is Chainlink. There is a higher low on the weekly LINK chart, which is a sign of an incipient uptrend. Also, right now, the price may form a higher local high on the same weekly chart. That is, a trend is being created and it can be quite strong.

Confirmation of this forecast will be the closing of the weekly candle at about $ 35 and above. In case of successful confirmation, the target of growth is $ 46, or + 30% of the current value with the prospect that the price will be even higher. We understand that 30% on the crypto market is extremely small for someone, but keep in mind that this may happen in the next couple of weeks. Volatility analysis indicates that it will increase, while the daily relative strength index indicates that the coin is entering the bull’s control zone. This scenario is valid provided that the weekly candlestick does not close below $ 31.5.

Chainlink continues to connect with all new DeFi projects, despite the fact that competitors have appeared on the blockchain oracles market. So, from the latter, the market maker Saber was added for trading on the Solana network, and the platform for crypto crediting Seeded Network, also from the Solana ecosystem. This flow does not stop, and as the data show, blockchain oracles from Chainlink today provide money protection in DeFi protocols worth $ 75 billion. Good result, but clearly not the limit – this is what Chainlink co-founder Sergey Nazarov believes next year, new DeFi services will be launched by banks and institutionalized. The prospect is extremely interesting, the main thing is that it works.

Because we believe in the future of DeFi as a financial technology, but we doubt that the regulators will leave them with their current leeway. Therefore, DeFi, as silly as it may sound, can really come under the control of banks next year, the main thing is that in the new form of work Chainlink retains its usefulness for these services.

ADA

And the third coin was Cardano, I must say that it was a kind of disappointment when it could not continue to grow after the maximum of $ 3. And in many ways, the reason for this was the overestimated expectations, because smart contracts were finally launched, but there was no breakthrough after that.

But let’s see if there have been important changes and let’s start with the graph. The ADA price at the end of October fell below $ 2 and for many, it was a signal that it was time to send the coin to the history warehouse. But then we had three rising local lows, followed by a sharp rise back to prices above $ 2. This is a classic scenario of a “bear trap” and it is possible that many have fallen into it.

The current volatility and RSI data indicate that the coin has not yet lost its bullish momentum and may continue to rise. If the resistance at $ 2.37 can be quickly overcome, then the road opens to a return to the range just below $ 3, where there will be another strong resistance. Our today’s trader is in no hurry to guess immediately at a new price maximum, but he gives a high probability of a quick return to a price of about $ 3. The cancellation point for this scenario is the price drop below $ 2.12.

In terms of news, Cardano’s recent growth has been fueled by news of the success of projects in Africa. We are not as optimistic for a modem as Charles Hoskinson and say that soon all Africa will be digital and all this thanks to Cardano, it seems to us that the real application of the blockchain is largely overestimated. But the fact that the project is going on is good news and if they really get it done, then the ADA price will be good too.

There is also a positive from data on the development of the official lightweight wallet Yoroi for the Cardano ecosystem, which greatly simplifies the work with the blockchain. So there is a positive, and it can also help Cardano return to the price of $ 3.

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