While Bitcoin price is currently consolidating between $35 thousand and $38 thousand altcoin The return to ‘s continues. This creates short-term opportunities for traders to take advantage of rising altcoins. Investors are benefiting from this shift, which is directing capital into the altcoin sector and strengthening support for leading altcoins such as MATIC, Solana, and Chainlink. This shows that next week is promising.
The Likelihood of the Uptrend Continuing Is Increasing
Approaching Bitcoin With the halving, the expectation of a rising wave in the market increases. Investors who have held their tokens since the previous spike and purchased them at peak prices around November 2021 are particularly bullish on potential gains. However, historical trends show that not all tokens that reached their highest prices in 2021 may experience the same peak in the upcoming rally.
Recent trends suggest that Polygon, MATIC, Solana, and Chainlink may aim to revisit all-time highs in the next bull run. Because these altcoins have shown a consistent increase in value over the past few weeks.
Polygon (MATIC) Price Analysis
polygon‘s price momentum accelerated after surpassing the $0.70 level. However, it faced resistance at $0.87, indicating potential selling near that high.
If the price falls below $0.77, there could be a pullback to the $0.7 level marked by the 38.2% Fibonacci line. A bounce from this point could increase Polygon’s chances of clearing the $0.87 resistance. Success in this move could mean the completion of a ‘double bottom’ pattern for MATIC price, aiming to break above $1 next week.
Solana (SOL) Price Analysis
As seen in the daily price chart, solana There is no doubt that its price is recording huge gains these days. SOL price increased by 164% in one month and 41% in the last seven days. Currently, the bulls are trying to break through a key resistance level that will cause the price to skyrocket next week.
Solana (SOL) price gaining momentum above the critical resistance at $59 could signal the beginning of a new uptrend. This could potentially lead the price towards $70.
Chainlink (LINK) Price Analysis
Chainlink’s price recently reached $15, and attempts to push the rise further have met with resistance, as evidenced by the long wick on the candlestick indicating selling at higher prices. Koinfinans.com As we reported, at the time of writing, the LINK price is trading at $16.2, up over 7.3% in the last 24 hours.
LINK price could retrace up to $13, corresponding to the 50% Fibonacci retracement level. A strong recovery from this price could prompt buyers to challenge the $19 resistance. A breakthrough could send the price towards $29.
Conversely, a decline below $13 could signal a sell and potentially lead to a decline towards the 20-day Exponential Moving Average (EMA) at $12.3. This level could see a fierce battle between buyers holding out for a rally and sellers looking to profit from recent gains.