This year, there may be more of a crypto winter than usual because of the recent market downturns. Some cryptocurrencies will survive this downturn, while others will not.
These cryptocurrencies are ETH, MATIC, ALGO, SOL, and MSH. These five cryptocurrencies are all solid choices to invest in during this time because they have seen much growth since their inception.
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What is BYDFI?
BYDFI is a cryptocurrency exchange that offers a wide range of services and features, including futures trading, trading with light contracts, margin trading, crypto swaps, etc.
Additionally, users can mine free BYD tokens on the platform and receive incentives by finishing certain activities.
Additionally, you can trade these NFT tokens by copy trading with BYDFI margin trading. Here, you may simply copy successful professional traders and let everything run automatically.
Before we get into the five coins to look out for, you can also stand a chance to get our premium Crypto signals by signing up on BYDFI using the link “HERE“. To learn more, join our Telegram channel!
Ethereum (ETH) Price Analysis
Ether is one of the most popular and valuable coins in the crypto market. It’s as popular as Bitcoin, and people predict it will be one of the best investments for 2022.
Unfortunately, Ethereum had a pretty disappointing September. Since publishing this article, Ethereum has declined 18% in the last 30 days. This means Ethereum had the biggest drop of all coins in the top 10 last month.
Along with this, many developers are planning on moving their code to the new Ethereum project. As a result, the Ethereum price prediction is above $2000 this October.
In the 4H timeframe, the price action of $ETH/USDT rises from the horizontal support zone of the descending triangle. If it breaks its resistance trendline and after a retest, we will see well gain in Ethereum.
On the other hand, the price may also be rejected from the resistance trendline.
Polygon (MATIC) Price Analysis
Polygon is a scaling framework for Ethereum developers provided by Polygon Network. It provides a quick, secure, and fair-cost environment for building dApps.
Recently, MATIC holders got some good news. The e-commerce platform Shopping.io has now added support for MATIC tokens in their payments.
The cryptocurrency market expert predicts a 20% increase in MATIC prices before the end of the month, as reported by CoinMarketCap’s price prediction metrics.
The fairly optimistic forecast from experts and traders suggests they have high faith in the project.
In the 2H timeframe, the price action of $MATIC/USDT is trying to break its resistance zone of ascending triangle. We have to wait for a successful breakout.
Algorand (ALGO) Price Analysis
Algorand is a blockchain platform that functions as a major payment processor. They also have their native cryptocurrency, ALGO, which is how the platform secures itself against attacks and rewards its governors.
Algorand has a unique 2-tiered blockchain that lets you transact on the base layer without paying network fees.
All transactions on Layer 1 of their blockchain are transactions with smart contracts, asset creations, and atomic swaps between assets. This helps ensure security and ease of use.
On the 4H timeframe, the price action of $ALGO/USDT consolidates inside the symmetrical triangle. Currently, it is moving above the support trendline and also horizontal support. So, bounce is also expected from here. But, we must wait for a successful breakout or breakdown for confirmation.
Solana (SOL) Price Analysis
Solana is a specially designed blockchain that can host decentralized applications and handle more transactions per second than Ethereum. It also has lower transaction fees, making it preferable to Ethereum in those respects.
In addition, some people may use SOL to do goods and exchanges between two parties, cutting away the middleman. One of the notable reasons for SOL is that it allows you to control your money while leaving no trace of transactions.
Recently, an NFT Series built on the Solana Network called “ABC” became the most-traded collection on September 7th, leaving popular options like “Bored Apes.”
On the 1D timeframe, the price action of $SOL/USDT consolidates inside the descending triangle. We must wait for a successful breakout or breakdown to confirm its next move.
CRIR MSH (MSH) Price Analysis
MSH can be used on known wallets like Trust Wallet. It can also be integrated with other services, and all cryptocurrency transactions are secure and mostly private, as is MSH. So you can use it anonymously.
$MSH can be used to invest in their upcoming 300M max supply Multichain DEX. It is available on Pancakeswap, BNB Pair at Hotbit, and Bank USDT Pairs. MSH is a BEP-20 Token that lives on the Smart Chain.
DEX transfers are fast and cheap, so you can get tasks done in record time. It also supports the fastest blockchains out there.
On the 2H timeframe, the price action of $MSH/USDT is moving inside the descending channel. We have to wait for a successful breakout or breakdown.
On-demand analysis on $MKR or any other coin can join our Telegram channel anytime.
Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
