In mid-week trading, cryptocurrencies appear to be quite productive as the markets move upwards. Bitcoin price has been trading above $21,000 for a long time. Ethereum and altcoins follow the same pattern. In this article, let’s take a look at 4 altcoin projects from the list of analyst Sahana Vinhute that are giving strong signals in the current environment.
4 potential altcoins to watch for the week ahead
Polygon (MATIC)
The potential long area of MATIC price was hovering around $0.45, where it recovered strongly. The latest price action is confirmed by another bullish move as MATIC rallied from $0.45 to $0.58. Currently, the price is seeing rejection from these levels. Finally, there are chances to drop to $0.532 and bottom supports, which are crucial areas to hold. If it fails to do so, there is a risk that its price will drop below $0.5. However, a more likely rebound will push the price beyond $0.6 to reach $0.64 next week.
Avalanche (AVAX)
With the recent price change, AVAX showed a large bullish divergence above the downtrend line. However, it is facing a major hurdle at the 50-day MA levels, which will hinder its upward move. If AVAX price breaks and moves upwards, the bulls will target the $38 to $40 region. If AVAX persists above the 200-day MA, we could see a rally to $50 for the rest of the year.
BNB Coin (BNB)
BNB price turned $215 support. It then rallied until it tested the $247 resistance area. Thus, it provided some profit to its investors. The current chart shows clear setups for significant long jumps. Also, the current price action points to some liquidity above recent highs. Therefore, a short-term trend reversal is expected, which could be sadly down. In this context, BNB will reach the first support level at $235. In the worst case, it will also test the region between $225 and $228. Beyond that, it will initially retrace the $230 zone. Later, the bulls aim at $260.
Chainlink (LINK)
Chainlink price, while being somewhat diverse, is showing some weakness as the market has not been able to maintain its recent strength. Therefore, a dive is close to the $5.5-5.7 region, where it can reclaim $6 at the earliest. Collectively, altcoin projects are expected to have significant bullish momentum regardless of the star crypto’s price action. It is reasonable to expect a significant rise from BinanceCoin, Polygon, Chainlink and Avalanche in the coming days.
As we have mentioned in the cryptokoin.com analysis, Bitcoin has been trading above $ 21,000 for a while. In this article, we have discussed the current analyzes of Peter Brandt, who stands out with his accurate predictions.
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