#crypto2023 Here’s a list of cryptocurrencies that may trigger a fresh recovery trend in October 2023; Should you buy now?
Throughout the month of September, the broader #cryptocurrency market exhibited a highly volatile yet constrained trading range. This lateral movement neither benefited the bulls nor the bears, signifying a state of neutrality among market participants. Nonetheless, with the market frontrunners Bitcoin and #Ethereum still holding its overall uptrend, it appears likely that altcoins could soon resume a positive trajectory.
LINK Price Analysis: Can it Reclaim the $9.5 Mark?
Source- Tradingview
The Chainlink price has exhibited a shallow downward trend phase for more than a year. The altcoin’s price action has been confined within a descending channel pattern, punctuated by two rebounds from its lower support level and four rejections at its upper resistance.
However, with the recent uptick in the #crypto market, the LINK price has registered 18% since last week. Thus, the coin price reached the current trading price of $8.1 and is challenging its upper resistance levels around $8.2.
A successful breakout above this resistance, indicated by a daily candle close, could offer bulls a strong foundation for instigating additional rallies. In such a scenario, we could anticipate a 50% price surge, pushing $LINK towards a new high at $9.5.
AAVE Price Analysis: Key Resistance Restricting the Buyer’s Growth
Source- Tradingview
The $AAVE coin price has been trading within the confines of a descending triangle for an extended period—surpassing 500 days. During this time, the $48 level has emerged as a significant area of high accumulation, with a descending trend line consistently thwarting buyers’ advances.
Yet, over the last three weeks, the AAVE price has recorded a significant rally of 35% to reach the $89.45 mark. Although the descending triangle pattern has historically acted as a barrier, a decisive break above this level, supported by significant volume, could serve as a solid confirmation of an impending bullish trend.
If this were to occur, the asset could be poised for a 38% upward swing, targeting a new high at $96.
RUNE Price Analysis: Will Current Recover Hit $3 Mark?
Source- Tradingview
The weekly chart of Thorchain coin price has displayed a noteworthy inverted head and shoulders pattern. Often viewed as a harbinger of a trend reversal in the market, this pattern is particularly compelling amid the current wave of optimism.
Over the past week, the $RUNE price has escalated by an impressive 20%, edging closer to a critical resistance level near the $2 mark. A daily candle closing above this threshold could offer traders an excellent entry point, spurring further price appreciation.
The post-breakout rally would likely push the coin’s market value to $3, suggesting a potential gain of 43%.#Layer2