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Popular Altcoins to Make A Larger Move this Week, MATIC, BNB, AVAX, LINK Price May Explode Soon

16 Jul, 20223 min readAltcoins
Popular Altcoins to Make A Larger Move this Week, MATIC, BNB, AVAX, LINK Price May Explode Soon

Polygon(MATIC)

Polygon (MATIC) price bounced off well from the crucial support levels and surged close to 38% from the bottoms at $0.53. The asset faced rejection a couple of times at $0.733 in the last few hours, making it mandatory to test and clear these levels. However, the bulls still appear to be in a strong position that may assist the price to slice through these levels soon.

MATIC price is expected to consolidate within the immediate support and resistance levels for the next 24 to 48 hours. In case the bears gear up, the price may pierce through the lower support to test the crucial areas around $0.51 and $0.54. With a fine rebound, a bullish trend beyond $0.8 could be imminent.

Avalanche (AVAX)

Avalanche price is currently trading within a symmetrical triangle. No doubt the price has earlier attempted to breakout above the resistance but eventually failed. However, the price currently is experiencing bearish pressure that may drag the price close to the lower support around $17.94.

The AVAX price is believed to flip from the lower levels as crucial support, 200-day MA levels may offer the required boost. Additionally, the upcoming wave could be the final one within the triangle, post to which a notable rebound may make its way out to hit $22 very soon. However, securing the levels above $27 may halt the bearish trend to some extent that could pave way for the bulls to thrive.

BinanceCoin (BNB)

BinanceCoin price, on the other hand, is trading within a parallel channel for nearly a month. Therefore, The asset is respecting the upper resistance as well as the lower support levels that were validated with the recent rejection at $240.3.

The BNB price could further consolidate but slowly head towards the south and eventually test the local support at $200. A rebound is expected here, but if it fails to do so, a major drop may lead back towards the crucial support at $216. The asset may further range high and mark highs above $250 in the coming days.

Chainlink(LINK)

Chainlink’s price since June has been experiencing a huge drain as it lost the crucial levels at $7.35. Moreover, while th price was in a recovery mode, a fresh plunge again drained the price lower after it faced rejection at $6.4. The price current appears a little bearish but is due for a notable rebound.

LINK price in the short term is believed to swing within the interim resistance and support levels at $6.29 and $6.97. In case of a severe price drain, the LINK price may drop hard towards the lower support and ignite a significant rebound that may assist the price to break through the local resistance and achieve levels close to $7.

Source

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