As we head into 2023, the potential for a rally to the upside increases. As market history tells us, what BTC is doing, ETH and other altcoins are following suit. The truth is that it is impossible to find an absolute top or bottom in a market as volatile as cryptocurrency. Management power is in the hands of whales and institutional investors who jump into their portfolios. Therefore, shoals can only understand the market in order to minimize the impact of manipulation and maximize the use of price movements. As the year draws to a close, investors are looking to three altcoins in particular to track the potential boom.
DOT is at the heart of the Polkadot ecosystem. Polkadot enables interconnection between different blockchain networks that were previously considered incompatible. The ecosystem allows seamless interconnection of multiple blockchains and is extremely fast and scalable. The main use cases for $DOT include sharing and governance across platforms.
Several major cryptocurrencies are trading or threatening to fall below their yearly lows, but MATIC has outperformed as it tries to move above its yearly lows.
As such, the MATIC price could go up to $1.75. If this resistance is broken, the coin could gain momentum and reach $2.92. Investors will take over if the price drops below $0.69 by buying back. This could pave the way for a drop to $0.31.
MNW is the native token of one of the fastest growing blockchain-based supply chain management middleware, Morpheus. Additionally, MNW is a relatively stable project in a highly volatile crypto environment. With the highly anticipated Masternodes program launching soon, hopes are really high on the MNW side. The current market price of MNW is $1.19 while the all-time high is $5.46. Once MNW breaks above its previous high, it is expected to reach $10.
Finally, it is important to clarify that this text is not a recommendation to buy the market, only technical analyzes based on investor studies. So, do your research before investing.