Bitcoin collapsed after TerraUSD (UST) diverged from the US dollar peg. With the decline of Bitcoin, altcoin projects also exhibited serious negative volatility. According to experts, it looks like there are some among these altcoins that are ready to experience a strong return. Here are the altcoins to watch out for, according to expert Sahana Vibhute…
Phantom and Zilliqa: What to expect?
As we reported on Cryptokoin.com, after being rejected in the first few days of April, the Phantom price has continued to drop so far, which has fueled the market crash recently. However, the asset has stalled the downtrend for a while and has been trying to make a notable bounce for the past few days. Therefore, analysts believe that a break from the $0.36 to $0.38 levels could prompt assets to reach the $0.45 levels instantly.
On the other hand, after the recent turn in the downtrend, ZIL price is constantly hovering in a parallel channel. Therefore, after the current rejection at $0.055, it has to hold at $0.049 even if the price drops. According to analysts, this may result in strong bullish momentum that could open the doors for the $0.0622 to $0.0067 levels.
What’s next for the popular altcoin MATIC?
MATIC price followed a similar trend after the recent decline from monthly highs very close to $1. Currently, the price is hovering just below $0.65 and if it is bearish, lower support levels near $0.6 are needed to remain strong. If it fails, supports previously around $0.5 could be close. However, a strong resistance could be seen at $0.806 once these levels are cleared, as the recent price action cleared the way for shifting resistance towards the $0.7 barrier.
Collectively, altcoins are currently showing some bullish momentum, which seems to strengthen the likelihood of a short-term bounce from support levels. However, it should be noted that these bounces can also lead to a bull trap as market conditions are quite shaky and a drop is expected.
34093
