Solana(SOL), Polkadot(DOT), or Polygon(MATIC)-Which Altcoin Will Recover Quickly in Q4?
Solana (SOL) Price Analysis
Solana price continues to extend the bearish descending triangle as the volatility has been chopped off to a large extent. A huge spike was witnessed in the DEX activity which marked double the levels of that of CEX. With a jump of nearly 11%, the SOL price continues to cement within the top 10, but if it fails to attract the bulls, may eventually mark an exit in the coming days.
The SOL price is stuck up within a huge descending triangle ever since it marked its highs above $250 during Q4 2021. However, it attempted a v-shaped recovery in Q1 2022, but fell victim to bears and fell 79% to reach the current trading zone. The SOL price is expected to breach the lower support and fall below $10 in the coming days.
However, the support zone between $24 and $19 may keep the price stable for a while. A single-digit target could be close at hand for the price in the future, though, if the SOL price fails to spark a rebound.
Polkadot(DOT) Price Analysis
Polkadot price has been consistently trading below $7 ever since the market collapsed in May 2022. Surprisingly, the DOT platform is the second most active project in terms of development activity after Ethereum, and it is three times more active than Cosmos, which is third.
Despite a huge spike in the network upgrades, the network activity remains highly negligible as the daily active address has dropped heavily of-let.
The price is trading within a huge bearish triangle and is expected to continue trading between the same pre-determined levels until the end of the month. After reaching the apex of the triangle, the price may experience an intensified bearish pull within the support zone. However, after a significant rebound, the DOT price may eventually rise to reach the local resistance at $7.13.
Polygon (MATIC) Price Analysis
Polygon price is trading within ascending triangle, aiming to reach the crucial resistance at $0.84 at the earliest, displaying a different trend from the previous two. While the asset previously had attempted to slice through the upper resistance a couple of times but failed, the MATIC price may witness another rejection in the coming days.
However, the rejection may further incite a catapult action to rise high and reach the immediate resistance at $1.14, surpassing $1.
The MATIC price has risen after rebounding from the lower support levels of the triangle and may head toward the crucial resistance zone. Similar to the previous trend, the price may again face rejection and undergo a minor pullback just before marking its monthly highs above $0.98.
However, after accomplishing a retracement, the Polygon(MATIC) price may ignite a firm rebound at $0.92 and surge beyond $1 before the end of October 2022.