Leading analysts of the cryptocurrency market pointed to critical levels for MATIC, XRP, ADA and SOL! So, what awaits investors? Here are the details…
Critical levels announced for MATIC, XRP, ADA and SOL!
Polygon (MATIC)
Popular altcoin Polygon (MATIC) price is attempting to chart year-to-date highs as investors shift its bullish trend. The altcoin will likely follow the levels announced before the start of alt season, which could further support the bullish outlook and result in a significant rally. However, Polygon (MATIC) will work to break the $1.27 resistance level. It is very important to turn this level to support, because if this level is caught, it can increase by 32 percent with the effect of the bulls and reach $ 1.52 levels.
Looking at the Relative Strength Index (RSI) for Polygon, a rally is still possible. However, failure to break the critical resistance will result in a pullback towards the critical support at $1.04. If it breaks below the $1.04 level, MATIC could drop as low as $0.93, surpassing the March lows, and with it, the potential upside will be invalidated.
Experts are waiting for a rally at Polygon as cryptocurrency whales accumulate over the past month. However, the amount in these wallets is valued at $48.3 million, with a total of 42 million MATIC increases. On the other hand, the increase in interest towards MATIC may also lead to a potential savings from individual investors. According to the chart below, the 330 percent increase in network growth from 26k to 112k indicates increased adoption. This may result in a near-term uptrend.
According to experts, looking at the ratio of Market Cap to Realized Value, namely MVRV, it seems highly possible for the altcoin to rise from the opportunity zone. On the other hand, investors are looking forward to MATIC and experts in any savings are waiting for a rally for Polygon (MATIC).
Left (LEFT)
Solana price is actively trying to break through a major hurdle that has been going on for more than a year. A successful exit from this level can bring big gains for SOL holders. Solana price momentarily reveals an inverted head-and-shoulder setup that predicts a 71.09 percent increase to $37.21. As Cryptokoin.com reported, the price of SOL failed to break through the one-year trend line, but SOL may soon explode due to the confidence of investors in SOL.
If SOL reaches its theoretical target of $37.21 and the momentum remains relatively strong, it could attempt to rally the remaining buy-stop liquidity above the equal highs of $38.92. However, the price of SOL may increase by 80 percent.
While things look interesting for altcoins in general, a high-impact macroeconomic event that forces the stock markets could negatively affect cryptos. If such a scenario happens that pushes Solana price below the $18.68 support level, it will invalidate the bullish thesis for SOL. Such a move could tip the odds in favor of the bears and potentially trigger a Solana price sell-off to $14.95.
Cardano (ADA)
On the other hand, with the newly emerging cross-chain network integration, Cardano users will now be able to play on-chain games using their ADA coins. This feature, announced by Parma Studios, attracted the attention of many investors on Twitter. In addition, the developers also conveyed their comments on the subject. With the integration, wallets will remain under the supervision of users.
Paima Studios’ integration with Cardano not only provides safer gaming, but also allows games created on other networks to be easily migrated to the Cardano network. That’s why investors have been focusing on ADA lately.
On the other hand, with the recent success of Cardano, Cardano founder Charles Hoskinson shared on Twitter that the number of unique wallets participating in staking on the Cardano network has significantly exceeded that of Ethereum. He also described Cardano as “quite special”.
Judging by the technical analysis, the ADA price has seen a massive increase in momentum by the whales. Santiment data reports that ADA investors have received another 150 million coins. Cardano whales, which hold between 1 million and 10 million ADA, according to the data, have accumulated more than $57 million worth of ADA in a matter of weeks and went on a massive buying spree.
Crypto analyst Ali Martinez from blockchain analytics platform IntoTheBlock confirmed this in his latest post.
As you know, retail investors held 66 percent of the ADA supply. According to experts, this increase, which was 40 percent last year, reveals the belief of investors in it and its growth potential. All this shows that confidence in Cardano’s long-term prospects has increased.
Ripple (XRP)
Another project was announced as XRP. Ripple attorney John Deaton testified in Maine’s Financial Services Committee that he threatened SEC Chairman Gary Gensler by refusing to pass legislation that would allow banks to agree to store cryptocurrency with 100 percent reserves. Here are John Deaton’s words:
The regulator’s moves threatened the state’s right and ability to enact laws, such as a Bank that agreed to hold cryptocurrencies with 100 percent reserves.
However, Deaton has tied his statement for the XRP community by commenting on Gensler’s recent tweet. After this tweet, the XRP price rose by 5 percent.
On the other hand, according to experts, the XRP price gained momentum like MATIC, gaining over 32 percent. If this momentum created by XRP in the uptrend continues, a rally of more than 25 percent from the $0.49 level can be expected and this increase could take the XRP price to $0.65.
However, XRP’s target of $0.65 is close to the 61.8% Fibonacci retracement level, which is an important resistance level. On the way to the $0.65 level, XRP is facing major resistances at $0.53 and $0.60. However, if these resistances turn to support, the $0.65 target may be met. On the other hand, with a bearish momentum to be experienced on the contrary, the price may decline below the $0.44 levels. This will invalidate the bullish thesis for XRP. In this case, the asset may find support at the weekly low and recover.
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Explosive Predictions for MATIC, XRP, ADA and SOL for the rest of the article! What’s Coming?