Altcoin Rally Intensifies, Polygon and Polkadot Head North

Crypto News – Cryptocurrencies have been soaring in value, and certain small-cap cryptocurrencies have seen an even bigger surge. The altcoin market has brought $100 billion to the larger cryptocurrency market in the last seven days.

Altcoin Rally Intensifies, Polygon and Polkadot Head North

In anticipation of the Dencun hardfork in January 2024, the Ethereum network enjoyed a robust rise on Friday, pushing ETH—the second-largest cryptocurrency in the world—above $2,300. Although the price of ETH has been drifting horizontally as of late, analysts think that the latest breakout will allow the rise to continue.

Cardano (ADA), on the other hand, has been moving extremely fast. With a $21.9 billion market capitalization, the price of ADA has surged by an astounding 19.49% to $0.6216. The price of ADA has increased dramatically by 60.74% in the past week. Anticipate ADA shattering the resistance at $0.45 and perhaps rising to $1 by the end of December if the pattern holds.

Ali Martinez Thinks MATIC Can Go Even Higher

Small-cap altcoins have also been moving up, even if the top ten altcoins have been taking all the attention lately. In the last day, MATIC, the native cryptocurrency of Polygon, has increased by 3.59% and surpassed $0.9149 once more. Comparably, Polkadot (DOT), which has a $9.4 billion market capitalization, has soared a startling 10.82%, reaching $7.34. Based on the weekly data, the price of DOT has already increased by over 33.59%.

Significant accumulation of $MATIC has been observed between $0.80 and $0.86, according to cryptocurrency expert Ali Martinez. In this critical demand zone, 42,000 addresses possess around 5.8 billion MATIC. Polygon is poised for a bullish run if this level holds with little opposition.