Despite the recent market decline, mid- and micro-cap altcoins like Optimism (OP), Polygon (MATIC), and Litecoin (LTC) are displaying indications of potential recovery. This may present an opportune time to contemplate purchasing during the downturn.
These altcoins are approaching a significant support trendline retest, which previously marked the bottom of the bull cycle for cryptocurrencies outside the top 10 by market cap.
Optimism price prediction
The micro-cap altcoin OP has experienced a significant decline in value over a sustained period. Currently priced at $1.83, it has dropped by 28% in the last month and by an additional 11% in the past 24 hours. The platform is focused on speed, providing a rapid alternative to the Ethereum Mainnet. Most analysts are optimistic about OP, forecasting that its value will reach $2 by mid-2024 and at least $3 by the end of 2025.
Polygon price prediction
MATIC is currently trading at $0.55, which is a 10% decrease over the past 24 hours. Despite facing recent challenges, the developers of MATIC have introduced a significant upgrade called Polygon 2.0, aimed at decentralizing the system. This upgrade is a positive advancement for the platform.
Additionally, POL will replace MATIC, and the transition is expected to be seamless, allowing MATIC holders to exchange their coins for POL at a 1:1 rate. This news should reassure investors, especially after the US SEC accused MATIC of being an unregistered security. It demonstrates the platform’s dedication to compliance and innovation.
Moreover, experts are being cautious when predicting MATIC’s future performance. Some anticipate a steady, minimal rise: an average of $0.59 in 2024, $0.62 in 2025, $0.65 in 2026, and $0.68 in 2027.
Litecoin price prediction
LTC, another mid-cap altcoin, is currently priced at $73.34, which is a 5.84% decrease over the last 24 hours. This decrease comes despite the network processing 6 million additional transactions since reaching a milestone of a quarter of a billion on June 5. The coin has experienced a 12% drop in value over the past month.
The recent decrease confirms a breakdown in the wedge pattern on the daily chart, indicating a shift to a bearish trend despite periods of consolidation.
We anticipate a potential recovery for LTC in the upcoming week, with a possible bounce that could lead to a retest of the disrupted wedge pattern before facing renewed selling pressure. Another potential scenario is a return to April’s low of $86 before the coin gains further strength. In the short term, the $90 level is a crucial breakpoint for bullish momentum; however, the lack of significant buying volume suggests that a major bull run is not imminent.
