Are you wondering which altcoins to watch out for this week? The crypto market, with a value of $1.12 trillion, saw several altcoins making significant strides over the weekend. As we head into a new week, there are a few standout cryptocurrencies that are worth keeping an eye on. This insight comes from a well-known crypto analyst, who goes by the pseudonym The DeFi Investor.
Key Altcoins to Monitor
The DeFi Investor highlighted Arbitrum (ARB), Chainlink (LINK), and Comsos (ATOM) as the altcoins that investors should monitor closely. He provided a few reasons to back up his predictions.
- For Arbitrum, the potential approval of a $50 million ARB incentive could act as a catalyst for a price surge.
- Chainlink could see significant price movement due to upcoming major announcements.
- The future performance of ATOM might hinge on the outcome of the Comsosverse conference, which starts on October 2.
At the time of the analysis, ARB was trading at $0.96, having risen by 3.68% in the last 24 hours. LINK hit the $8 mark as predicted but then plateaued, while ATOM saw a 3.77% increase over the same period.
Chainlink (LINK) Analysis
Chainlink has been fluctuating between $7.95 and $8 in the last 24 hours. However, this consolidation doesn’t necessarily indicate that LINK will maintain its current price. The LINK/USD daily chart shows a largely bullish market structure. With an RSI of 67.83, LINK is experiencing strong buying momentum. But an RSI close to 70 could hint at a potential retracement due to profit-taking. In case of sell-offs, LINK could drop to $7.80, but there’s a high probability that increased buying pressure could push it to $8.50.
Arbitrum (ARB) and Cosmos (ATOM) Outlook
ARB’s price has managed to rise to $0.97 due to increased buying pressure and whale activity. The MACD of 0.008 suggests an upward momentum. If sellers don’t take over, ARB could potentially exceed $1.
ATOM’s price was driven up to $7.57 from $6.94 due to increased buying pressure. Despite a minor resistance at $7.57, a positive AO of 0.33 suggests that bullish forces are in control, and ATOM could recover from $7.53 and potentially push towards $8.
Investors and traders can make use of platforms like cryptoview.io to track the performance of these altcoins and stay updated on market trends.
