Global Crypto Market Cap to Hit $1.6T Soon! Litecoin, Cardano, Polygon Price May Outperform Many!
26 Jul, 2022•3 min read•Altcoins
The Global Crypto Market Capitalization tanked down below $1 trillion in the early trading hours, tumbling down by nearly 4% since the early trading hours. Most of the assets also witnessed a heavily drain as the star crypto struggles to maintain above $21,000. However, the uncertain price action is expected to ease very soon as a crucial rebound is fast approaching.
Litecoin (LTC) PriceLitecoin price is currently trading between the 50-day and the 200-day MA levels which are offering pivotal resistance and supportThe LTC price for the past week is holding the 50-day MA levels as strong support. Woefully, the levels may be rejected in the next couple of hoursHowever, a significant influx of volume is expected to flood in the next couple of hours, which could uplift the price and also enable the price to rise close to the 200-day MA levels, clearing the crucial resistance at $70Once these levels are achieved, the asset may regain the 3-digit levels by the end of 2022
Cardano (ADA) PriceCardano price regretfully is trending within a descending triangle and heading strongly towards the apexHowever, the current bearish trend is expected to drop the price to the lower support and eventually compel the price to slice down the lower support and hit the last point of defence at $0.3This is when the ADA price may absorb a huge bullish momentum that may ignite a firm rebound from the lower support back above $0.4However, the asset may further maintain a significant uptrend above $0.5 in the next 30 to 45 days
Polygon (MATIC) PriceAmongst all MATIC price appears to be quite bullish as the asset is swinging within an ascending parallel channelPolygon witnessed a rejection after testing the upper resistance close to $1, which was fueled in the last working day that dropped the price by more than 12%Continuing with a bearish trend, the price is also expected to drop by another 7% to 9% to hit the lower support of the channel, just below $0.7Rebounding from these levels, the price may range close to $1 and after a brief consolidation may rise close to $1.1Source