Top Altcoins to Track: LINK, ARB, and ATOM, Analyst Advises

• Altcoins Arbitrum (ARB), Chainlink (LINK), and Cosmos (ATOM) are worth monitoring.
• LINK’s Relative Strength Index signals strong buying momentum at 67.83.
• Increased buying pressure pushed ATOM’s support level from $6.94 to $7.57.

During the past weekend, several altcoins demonstrated remarkable growth, contributing to the crypto market’s rise to $1.12 trillion. However, as we enter a new week, there are certain cryptocurrencies that investors need to keep an eye on. The anonymous cryptocurrency analyst, The DeFi Investor, shared this viewpoint.

The DeFi Investor suggests that Arbitrum , Chainlink , and Cosmos are altcoins worth monitoring. The investor substantiates this prediction for several reasons. In the case of Arbitrum, the analyst points out that the sanctioning of the $50 million ARB incentive might be the driving force that propels its price upwards.

Additionally, The DeFi Investor highlighted that Chainlink is set to make significant announcements that could positively impact its price. Finally, the potential growth of ATOM may hinge on the results of the Cosmosverse event, scheduled to commence on October 2.

At the moment of this report, ARB is valued at $0.96, reflecting a 3.68% increase in the past 24 hours. Concurrently, LINK reached the anticipated $8 mark, although its price experienced a pause. Meanwhile, ATOM recorded a 3.77% rise within the identical timeframe.

Chainlink (LINK)

LINK has fluctuated between $7.95 and $8 in the past day. This stability does not necessarily indicate that LINK will maintain its current trend. Indeed, the market structure of the token was predominantly positive on the daily LINK/USD chart.

The LINK Relative Strength Index (RSI) also stood at 67.83, signaling strong buying momentum. Nevertheless, the proximity of the RSI to 70 implies that LINK might experience a pullback, potentially due to profit-taking activities.

Should there be any sell-offs, LINK could drop to $7.80. Nevertheless, there is a significant probability that an increase in buying pressure could potentially drive its value up to $8.50.

Arbitrum (ARB)

The price of ARB has risen to $0.97 due to increased buying pressure and significant transactions by large-scale investors. Furthermore, the Moving Average Convergence Divergence (MACD) stood at 0.008, indicating a growing bullish momentum. The blue line is significantly higher than the orange dynamic line, so ARB can exceed $1, unless sellers dominate the market.

Cosmos (ATOM)

The 4-hour chart for ATOM/USD mirrored the conditions of LINK and ARB. A surge in buying pressure pushed ATOM’s support level from $6.94 to $7.57. However, minor resistance at $7.57 slightly increased ATOM’s price to $7.53.

Regardless of other factors, the Awesome Oscillator (AO) registered a positive value of 0.33. This positive reading indicates that bullish trends currently influence the market. Consequently, ATOM will swiftly bounce back from its $7.53 mark and potentially propel the price towards $8.