The recent dip in cryptocurrency prices turned out to be a fantastic buying opportunity for those looking to invest in cryptocurrencies. Some cryptocurrencies have managed to keep their position well and are worth looking out for. Here are the top 3 cryptos to look out for this month.
Cosmos (ATOM) Price Analysis
Cosmos is a decentralized network featuring various blockchains that can interact with each other in a decentralized manner, enabling brighter information flows and a more reliable shared infrastructure. Cosmos crypto has recovered from the recent dip and is once again fighting to regain its place as one of the top coins and is now trading at $30.64.
ATOM is currently trading at $30.65 with a market cap of 8.7 billion dollars and has 286,370,297 coins in supply. It currently ranks 20th on CoinMarketCap.
On the 1D timeframe, $ATOM/USDT was trading in a downtrend. It formed out the Bullish Bat Harmonic Pattern on a Daily timeframe where the price action got reversed from its potential reversal zone level, which was at the 0.886 Fibonacci level.
Polygon (MATIC) Price Analysis
Polygon, a layer two scaling solution, lets you run dApps and smart contracts off the Ethereum blockchain. This means it’s less expensive to use, and more transactions can happen in real-time. With the recent dip in the market, Polygon crypto has been able to bounce back and is currently trading at $1.67.
MATIC is currently trading at $1.67 with a market cap of 12.6 billion dollars and has 10,000,000,000 coins in supply. It currently ranks 16th on CoinMarketCap.
On the 1D timeframe, $MATIC/USDT price action has broken out the Descending Triangle pattern and has yet to retest the breakout level, but trade in this area would be very bullish from the long-term perspective.
Maker (MKR) Price Analysis
Maker is an Ethereum-based lending platform that allows people to lock Ethereum into smart contracts to mint their Dai stablecoin. Maker showed some positive signs as it recovered from the recent dip and is currently trading at $1,984.44.
MKR is currently trading at $1,990.34 with a market cap of 1.9 billion dollars and has 1,005,577 coins in supply. It currently ranks 52th on CoinMarketCap.
On the 1D timeframe, $MKR/USDT is forming the Structure of Bullish Harmonic Crab pattern where the price action current retraced down to the 1.414 Fibonacci level where the potential reversal zone level lies on 1.618 Fibonacci level.
The most important part of trading is discipline and patience. So, according to the above analysis, the coins we just spoke about might see some decent gains. Again, it’s your hard-earned money you’ll be investing, so Do Your Own Research before investing.