September wasn’t the best week for most Cryptos. In September alone, the price of bitcoin oscillated multiple times between the $20,000, $19,500 and $18,200 zones, affecting the price of the other cryptocurrencies in the market and making it hard for traders and investors to navigate through.
However, during the choppiness throughout September, a few cryptos did well and brought in considerable profits for traders who foresaw their performance and invested quickly enough.
Next week marks a new epoch for the cryptocurrency market because the next few days will usher in the tenth month of the year.
In this article, we analyze some of the top cryptocurrencies that are worth keeping an eye out for, for considerable profits next week. Some of them include:
Top Cryptos #1 – Bitcoin (BTC)
Bitcoin is the flagship cryptocurrency, so it only makes sense to watch out for it. This is because the performance of all the other cryptocurrencies in the market in one way or another depends on the performance of bitcoin.
Bitcoin currently appears to be in a range between the upper trendline of its major bearish channel and the $18,200 level. Most traders expect the price of bitcoin to retest the $18,000 level before a rebound and possible breakout of the upper resistance.
Top Cryptos #2 – Ethereum (ETH)
Ethereum appears to be in a range between the $1,250 levels. This has been the case for the past few days, indicating that the bears and bulls may be equal in strength.
So far, the price of Ethereum has tested the $1,400 level twice and may attempt a breakout next week
Ethereum’s price squeeze over this week may be an indicator of better conditions next week.
If the bulls win the bears over during this consolidation, we may see a retest of the $1,250 level at best, before a rebound. Prices may break out from the $1,400 level and move upwards to reclaim the $1700 zone the pre-merge prices fell from.
Top Cryptos #3 – Terra 2.0 (LUNC)
Cryptocurrencies from the Terra ecosystem have undoubtedly received a bad rap ever since the Terra crash of May 2022. However, the new cryptocurrency (LUNC) released as a replacement for the crashed LUNA coin has appreciated massively in value since its inception.
LUNC has exploded about 120% over the last 30 days. However, according to tweets from top crypto analyst and influencer, @AltcoinSherpa on Twitter, the price of LUNC may be on its way to more explosive gains over the next month.
We think so as well, because asides from the 120% increase (pink arrow) on LUNC in the past, LUNC appears to be forming a cup and handle around the $0.00030 – $0.00025 level.
After a possible bounce from the $0.00027 level, the price of LUNC may take off, just like @AltcoinSherpa predicts.
The price action on ADA remains to be seen after the success of its Vasil upgrade on the 22nd of September.
After the upgrade, Cardano is one of the most developed blockchains in the world of cryptocurrencies. It is a peer-reviewed and carefully designed blockchain overall, and holds this title that few other blockchains can claim.
The year 2022 hasn’t been kind to Cardano, but the price of the cryptocurrency appears to be in consolidation and may surprise the world next week.
Cardano has struggled to break through the support at the $0.44 level over the past few days. However, over the short term, the price of ADA may break upwards to the $0.46 level. It appears to be trading inside an ascending channel on lower timeframes. A breakout from this level may just be what the bulls need to take some degree of control and push the price higher.
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)