Bitcoin price struggled at around $20,000 for quite a long time and dropped below $19,000 for a while. In the times when the prices were believed to plunge below $18,000, the star crypto quickly flipped from the bearish trend and now trading close to $21,000.
Meanwhile, the second-largest crypto, Ethereum also surged above $1700, inducing significant bullish momentum in all the major altcoin, including the Ethereum Killers.
One of the popular Layer-2 chains built alongside Ethereum is constantly flashing bullish signals ever since the price rebounded from the lower support. The asset maintains its trend within an ascending triangle and appears to go parabolic to test the upper resistance.
The MATIC price surged from the June lows and raised high to test levels close to $1, but failed eventually and faced a massive rejection. However, the price has regained its grip over the bull market and hence could continue with a significant upswing for the next 24 to 48 hours. With the next leg up, the asset could be primed to surpass $1 and also test the pivotal resistance at around $1.175.
Solana’s price which intends to compete with Ethereum within the DeFi & smart contract space has been dragged from riches to rags in the past 8 to 10 months. While the asset also remained largely passive without attempting a strong rebound. However, after remaining stagnant for a while, the SOL price quickly ignited with a significant recovery.
The SOL price maintained its trend within a rising parallel channel for nearly 2 months. However, an extreme bearish action dragged the price lower to reach the September bottoms at around $30. However, the price is experiencing a significant upward movement since the early trading hours and hence may continue with the parabolic recovery to reach the neckline at around $47.17.
Cardano’s price in the past couple of weeks has maintained a significant upswing and reached the $0.5 resistance level. No doubt the asset faced a strong rejection, but the price is rebounding finely, withstanding all the bearish pressure. The price may again head towards $0.5 and primed to face a rejection.
However, as the Vasil Hard Fork approaches, the ADA price may rise, nullifying the impact of the rising wedge. Just before the event, the price may begin to face a huge bearish impact and could slash hard below $0.5. The hard fork may induce significant bullish momentum that may assist the price to rebound finely beyond $0.5.
Leave a Reply