The mid-week trade appeared to be pretty fruitful for the crypto space as the markets have been moving upwards. Bitcoin price sustained above $21,000 for a pretty long time, while Ethereum & altcoins too following the same pattern indicate a change in the market sentiments. Therefore, some of the popular altcoins like BinanceCoin(BNB), Polygon (MATIC), Avalanche(AVAX) & Chainlink(LINK) are expected to jump of consolidation this week.
Polygon(MATIC) Price
MATIC price’s potential long area was hovering around $0.45 from where the asset rebounded finely. The recent price action has proven with another bullish run as the price has been surging from $0.45 to $0.58. Currently, the price is facing rejection from these levels and eventually may hit the lower support at $0.532 which are the crucial areas to hold. Failing this, the price is expected to drop below $0.5, however, a rebound which is more likely may lead the price beyond $0.6 to hit $0.64 in the upcoming week.
Avalanche(AVAX) Price
Avalanche price with recent price flip displayed a huge bullish divergence breaking above the downtrend line. However, the asset is facing a major hurdle at the 50-day MA levels that may hold the AVAX price from moving upwards. In case the asset breaks and moves upwards, a minor bull run may uplift the price towards $38 to $40 levels. This may be followed by a relief rally towards $50 for the rest of the year if the asset secures the levels above the 200-day MA zone.
BinanceCoin(BNB) Price
BinanceCoin price has flipped the region around $215 and surged high until it tested the $247 resistance zone, granting some profits. The current chart displays clear set-ups to leap significantly long and present price action shows a liquidity tap above the recent highs. Therefore, one can expect a short-term trend reversal, that may be woefully towards the south. In this regard, the asset may hit the first level of support at $235 and in the worst case may also test the $225 to $228 region. Beyond this, a fine rebound may reclaim the $230 region initially and later $260 may be inevitable.
Chainlink(LINK) Price
Chainlink’s price, being a little diverse is displaying some weakness as it is failing to keep up the recent strength of the market. Therefore, a dive to $5.5 to $5.7 regions appear imminent, further to which the asset may reclaim the $6 position at the earliest.
Collectively, the altcoins are expected to possess a significant bullish momentum irrespective of the price action of the star crypto. BinanceCoin(BNB), Polygon(MATIC), Chainlink(LINK) & Avalanche(AVAX) are expected to display a significant upward moment in the coming days.
Be the first to comment