Analyst Sahana Vibhute talked about altcoin projects to watch this week. The analyst’s list includes BNB, LINK, ZIL, MATIC and AVAX. Here are the details…
What’s next for BNB, LINK?
Binance Coin price has been making big moves over the past few days, easing the occasional bearish effect. The bet is poised to hit a high after a short consolidation, aiming to gain more than 30 percent in the coming days. The area around $270 could be considered a major resistance zone after the asset shows a strong bounce from $250. However, a strong bounce is expected in these regions after facing resistance for the second time in a row.
On the other hand, the fixes last week were pretty quick. It wasn’t as heavy as usual. BNB price held the low support well, according to the analyst. Therefore, resistance levels are about to be tested a second time. Therefore, it can easily break levels to create a strong upward trajectory ahead. Chainlink price has opted to trade in a descending movement and generally sideways range since the beginning of the year. While volumes have dropped significantly, the asset remains volatile. Thus, if it finds a good entry at $6.15, the long position can hit the first target at $7.
However, the LINK price has not gone beyond the construction range and can still present great opportunities. In such a case, the critical resistance would be around $7.35. If this level breaks and rises, the next level could be $8.50 or even $9.50. Therefore, the LINK price shows the possibility of being in a high range of around 30 percent in the coming days.
Uptrend for Zilliqa (ZIL), AVAX and MATIC
Some altcoins prefer to move at their own pace and Zilliqa is one of them. After a massive rally a few months ago, the asset has now hit the bottoms. However, it is currently trading lower near support despite retesting in the $0.039 region. However, the critical resistance to break is near $0.00405 to $0.04.
As the asset tests a key resistance, it could take a long bounce to trade between $0.0435 and $0.044. In the case of an extended rally, ZIL price could also trade close to the $0.05 levels. Finally, the analyst points to Avalanche (AVAX) and Polygon (MATIC). Polygon is trading at $0.86, up 1.8 percent, while AVAX is changing hands at $24.14.
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