AltcoinsPrice Analysis

Axie Infinity to Go 100X! LINK, COSMOS and DOT Price to Follow!

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Highlights

    Followed by the announcement of the staking program Axie Infinity encountered stiff resistance and hit new ATH

    Chainlink, Cosmos and Polkadot showcasing a strong potential to follow the path of Axie as the altseason are on the horizon

It can be seen from the green candles in the crypto market that many altcoins are making good profits showing the very first moments of the altseason. The crypto space regained the lost momentum with the start of the new quarter. As Bitcoin price broke a major resistance of $44,100 reaching $47,700. This fueled up the altcoin rally, where-in the assets like Axie Infinity, Chainlink, Cosmos, and Polkadot showcase the strong potential of a massive rally in Q4. 

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Axie Infinity Price Hits New ATH!

Followed by the announcement of its staking program, Axie Infinity became the first altcoin to initiate the bull run surged by 48.63% in the last 24 hours. Coinmarketcap chart shows that since retesting at a low of $52.2 on September 21, the AXS price surged by 140% higher to hit new ATH at $119.92 on 2nd October 2021. Axie Infinity’s trading volume increased from $421 million to $1.95 billion

As the altcoin season is on the horizon, the asset is expected to continue the bull rally further. The next support level for the asset lies between $65 to $75 if it fails to hold the present resistance.

Additionally, According to Crypto analyst Elliot Wainman, Axie Infinity can further drive other gaming platforms such as UFO gaming, Yield Guild, and other Play-to-Earn tokens. He suggested choosing the altcoins with a low market cap to have more profits once they begin the bull run.

These Altcoins to Follow Axie Infinity in the Quarter 4!

Chainlink, Cosmos, and Polkadot also showcase strong potential to follow the path of Axie. According to the popular crypto analyst, Michael Van De Poppe the above three assets can reach  $100 in the present quarter. 

Chainlink producing a decisive close at $23.34, seems to have confirmed the bullish momentum. As the Link price surged by 8.39% in the last 24-hours reaching $26.03 at the press time. The next resistance level for the asset lies near $31, breaking out could result in a massive price surge. 

ATOM price breaking at $33.67 recently surged to $38.19 with a 5.55% gain in the last 24 hours. The altcoin has an immediate resistance level near $42.79, breakout could result in forming a new ATH. In failing to hold the current support level, the asset may fall well below $30.

DOT price recently encountered a major resistance at $26.33. With a gain of 9.30% in the last 24 hours, the altcoin is trading at $32.06 at the press time. The next resistance level lies at $37.38 breaking out could result in a price surge up to $50. On the contrary, if it fails to do so it may sit at a support level of around $26.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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