Crypto markets remained heavily consolidated during the past weekend as Bitcoin price continues to trade along the same support zone. The star cryptocurrency closed the previous week at around $19,000 with low volatility and low volume. The markets barely moved, flashing strong signs of exhaustion as the indices kept on falling. Therefore, in such a scenario where the volatility period extends heavily, a big move may be speculated on in the next couple of weeks.
With a slight change in the market sentiment, some of the major altcoins may also rise with huge bullish momentum.
Chainlink prices have been displaying significant strength since the beginning of September, and after a minor bounce, it may begin with a firm upswing soon. However, considering the present price action, the LINK price is expected to accumulate some strength. As the volume has been slashed, the price may witness a slight pullback. Further, a gigantic upswing may bring the price close to $10 if it manages to sustain above $7.65.
Terra Classic (LUNC)
Terra Classic‘s price leapt long during the past weekend and attempted to reclaim the crucial resistance at $0.00036. However, it displayed a significant strength as it managed to trade above $0.00032. If the price manages to sustain within the resistance zone without flipping, then a notable upswing may make its way out. Otherwise, the price may continue to trade around $0.0003 for a longer time. On the brighter side, a breakout beyond $0.00036 may pave the way for a significant upswing beyond $0.00045.
After a gigantic rally, Litecoin prices are currently consolidating heavily and plunging down towards the lower crucial zone. However, despite a notable pullback, the prices are required to hold the lower crucial levels between $43 and $46. If the price HODLs at these levels, then a notable upswing towards a 3-digit level could be imminent only after it tests and clears the pivotal zones at $81.
Despite a bearish month-end, the Polygon(MATIC) price is displaying acute strength as it sustains firmly above $0.75 after reclaiming the pivotal area around $0.72. The assets usually turn highly volatile as they surpassed $0.72 levels and hence also carry the possibility of a retest to $0.65 levels. If it manages to hold above $0.75, the price levels may rise beyond $0.80 very soon.
Avalanche‘s price displays a contrast rally compared to all the above altcoins, as the asset appears to be primed for another 10% drop in the coming days. Moreover, the platform lags volume & volatility which may drag the price close to $16 or even below these levels. If the price holds at these levels, then an upswing may rise the price close to $18. In contrast, a failure may lead the price to drop hard to $15.75 initially and later to $14.
Was this writing helpful?
This news is republished from another source. You can check the original article here.