The crypto markets remain stagnant as bears restrict at resistance levels and bulls keep assets above support levels. Bitcoin, on the other hand, continues to trade around $19,000, causing the entire crypto space to remain primarily consolidated. Meanwhile, some altcoins have maintained a significant ascending trend and are expected to coil up hard as their market cap approaches a critical juncture.
The altcoin market cap is about to recover from its recent lows. Furthermore, a notable upswing may accomplish with a double-bottom pattern. By the middle of November, the market cap may have reached the pattern’s neckline. If the bulls increase their activity at these levels, the market cap could break through the resistance and reach $1 trillion, quickly surpassing $800 billion.
Tron(TRX)
The Tron price remained stable throughout 2022. The altcoin has maintained a notable price action and appears to have a strong chance of regaining the lost levels very soon. TRX has been fairly bullish over the last 30 days, trading above local support. Once the bearish clouds lift, the price is expected to rise by 15% in the coming weeks and surpass $0.07.
Polygon(MATIC)
The Polygon price has been trading in an ascending trend ever since the price dropped hard to mark new lows around $0.3 from $3. However, amid hefty bearish influence, the MATIC price maintains a decent upswing and is expected to regain levels above $1 very soon. The altcoin has registered double-digit growth in the past week which may keep up the bullish momentum in the upcoming months.
Ripple (XRP)
The ripple price has plummeted recently as it has returned to the demand zone. Despite the bearish influence, market sentiment for the asset is expected to improve as the Ripple vs SEC case nears completion in the coming months. The XRPArmy is extremely bullish on the altcoin, believing that the decision will be rendered in favor of the company. As a result, a significant upswing is possible in the coming months.
BinanceCoin(BNB)
BinanceCoin has been accumulating strength largely as the asset has been largely bullish from quite a long time. The altcoin has been cemented within the top 5 cryptos competing with that the market cap of USDCoin. Therefore, in the coming days, the BNB price is expected to initially regain $300 levels, which may further ignite a significant upswing towards $500 until the end of the yearly trade.