After selling up to $19,000 in Bitcoin, the cryptocurrency market is recovering on October 22. Currently, its market cap (TOTAL) has grown slightly, approaching $877. Analyst Brian Bollinger maps Solana and 4 altcoin next price levels confirming support levels in recent sales.
Critical support to watch on Solana chart: $26
Solana is trading inside a descending triangle pattern amid continued selling. It showed a bearish divergence from the $29.5-30.1 neckline support in this pattern. The completion of the bearish formation increased the selling pressure. Thus causing the SOL price to drop for four days.
The altcoin fell 7.3% to its current level of $27.3 after the meltdown. However, if the selling continues, it is poised to test the 2022 low of $26. As a result, it will be critical to watch the $26 region before taking a position again. SOL is currently trading just above this level.
Axie Infinity (AXS)
Increasing volume action generally supports a bearish trend. This shows the confidence of the sellers in obtaining lower prices. AXS price is currently trying to recover after falling 5%. However, the first target of the bulls waiting for the rally will be the $9 resistance. As you follow on Kriptokoin.com, the $215 million AXS token will be unlocked on October 25.
Uniswap (UNI)
Uniswap is now trading at $6.01 after recovering half of its intraday losses. The $6 to $5.75 range is critical support for UNI traders to maintain the upside head and shoulders pattern. The renewed positive momentum will help investors push the altcoin 15% higher to reach $17 if prices stay above these levels.
Polygon (MATIC)
MATIC price made a significant break from the bi-monthly resistance trendline on October 17. However, the sell-off in the market sent the altcoin into a retest phase where it will be examined whether the price can hold itself above the trendline.
MATIC is currently trading above $0.8. The long-tailed rejection of the daily candle indicates buyers are struggling at the trendline. A daily candle closing above the trendline will offer additional confirmation for the price to continue before rebounding.
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