Altcoin Trading At Discounted Price

Crypto price today Oct 21st: In correlation with the global market, the crypto space witnessed intense selling pressure in the last few days. Thus sudden sell-off plummets the majority of crypto coins to their crucial support. As of now, the crypto market cap is currently trading at $902.25 Billion, a drop of 2.16% over the past day, whereas the total volume stands at $51.03 Billion, reflecting a 16.2% rise.

Market leaders:

The Bitcoin price currently trades at $18966, with a 0.38% intraday loss, while the Ethereum(ETH) coin trades at $1276 with a 0.48% fall.

Altcoins Returning To Their Support

Solana(SOL):

Amid the ongoing sell-off in the crypto market, the Solana coin price gave a bearish breakdown from the $29.5-$30.1 neckline support of descending triangle pattern. This bearish pattern completion accelerated the selling pressure and lowered the altcoin for four consecutive days.

The post-breakdown fall registered a 7.3% loss and plummeted the altcoin to its current level of $27.3. However, with sustained selling, the SOL price will retest the 2022 low support of $26. Therefore, interested traders should watch the price behavior at the support mentioned above before entering the market.

Axie infinity(AXS)

The ongoing downfall is backed by rising volume action, indicating the sellers’ confidence in reaching lower levels. As for now, the AXS price trades at $9.07, with an intraday loss of 5.22%. However, a lower price rejection candle hitting this $9 support indicates a minor relief rally is possible.

Anyhow until the prices remain below the trendline, the AXS coin will continue the downward spiral.

Uniswap(UNI)

The Uniswap coin recovered half of its intraday losses and currently trades at $6.01. For UNI holders, the $6 to $5.75 is an important support zone to maintain its bullish-inverted head and shoulder pattern.

If the prices sustain above these levels, the replenished bullish momentum should assist buyers in pushing the altcoin 15% higher to hit $17.

Polygon(MATIC)

On October 17th, the MATIC price gave a massive breakout from a two-month-long resistance trendline. However, the recent sell-off in the crypto market triggered the altcoin for a retest phase which will check the price sustainability above the breached trendline.

The Polygon coin currently trades at the $0.8 mark, and the long-tail rejection to the daily candle indicates the buyers are wrested to acquire the trendline. A daily candle closing above the trendline will offer additional confirmation to resume price prior to recovery.