Three Altcoins to Watch for the Weekend: LINK | MATIC | DOT

The crypto market is slowly showing signs of the bullish whales getting back in the game, as the entire market is turning to the upside. Bitcoin, after slightly hitting the ATH, has brought bullish sentiment in the altcoin space as well. As mentioned in the previous articles, Bitcoin has become a leader with respect to its price action lately. But, with the altcoins transiting from their lows and reversing to the upside, there has been a shift in the market that has taken the lead.

Although the buyers in the Bitcoin market attempt to bring new highs in prices, the pressure to push the prices higher remained subdued. This is because the prices reversed back down after heading only about 3 percent higher from the previous highs. Furthermore, the buyers failed to breach its highs despite taking support at the psychological $60,000 price zone.

But altcoins, at the same time, continued their move higher, with most heading to their ATH and a few breaking through it. For instance, Solana recently made a new ATH, and Ethereum touched its highest point.

That being said, the opportunity to get in on the buys is still available in several cryptos, as they are yet to reach their all-time highs. Of course, these tokens would fall under the laggard category, but it does not defer the fact of their potential to the upside. Following are a few altcoins that have begun to their trend north and possess high potential in the near future. The list of tokens shall be in descending order of the amount of discount they are providing.

Chainlink (LINK)

Chainlink (LINK) which used to be a top performer at the beginning of 2021 has lost momentum after the crash in May. Not only did the sellers plunge the prices down to $15, but they also had extreme power on the way down.

However, the demand zone around $15 stood firm, which never allowed the sellers to continue with their downtrend. In fact, if looked closely, the LINK market did not have an evident downtrend trajectory with lower lows and lower highs.

With the demand being compellingly strong, the buyers took the price higher to the recent resistance level at $35. As expected, the sellers pushed the market right back down and brought the price to a support level at $25. The market holding at this support level was a sign of the trajectory turning into a higher low – a major component of an uptrend.

Despite the strength of the buyers at the support level, the support level failed to hold, which led to a dip to almost $20. And surprisingly, the market took off right back to the upside, making the dip a false breakout. As a result of the buyers stepping up, the market continued its upward move until $32.5.

The momentum of the buyers on the way is arguably weak, but it perfectly makes sense as it is trading at one of the major supply levels. As the sentiment of the market remains bullish, LINK could easily breach the recent resistance to head to the ATH.

Polygon (MATIC)

The Polygon network never fails to impress its users as well as the investors of the token. The massive parabolic bull run in MATIC cryptocurrency had put the majority of investors in the positive. Although the retracement in May-June came in quite aggressively, the buyers were still market of the business, as the demand level held just like in LINK crypto. However, comparatively, the MATIC token seems to have better momentum for the buyers throughout the recovery phase.

For instance, after faking out at $0.6 in July, the market railed a whopping 160% within a month. Later, the prices did take a turn south after finding resistance at $1.64, but it stood insignificant on the bigger picture. Despite the sells coming in from $1.64 with momentum, the buyers at the $1 support remained strong enough to hold and eventually reverse the miniature trend. As a consequence of a higher low as indicated, the buyers took charge to finely breach above the resistance to hit the $2 mark.

Currently, the prices are retracing after a major push north. But, given the fact that the impulsive pushes are getting stronger every step of the way, it is highly probable for Polygon token to reach its ATH very soon.

Polkadot (DOT)

Polkadot crypto has relatively been the best performing asset based on the current price action and where it stands. In fact, the price action of DOT crypto is similar to that of Ethereum, as both have been moving at the same pace ever since the recovery began in June.

After bottoming out at $12, the market has rallied strongly to reach the highest resistance at $39.75. As the market trades above the resistance, the same level is now potential support, where the market has even held a couple of times. Although the Polkadot market is a few percent below the ATH, its potential to the upside is significantly higher.

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