Published 3 hours ago
The first two weeks of June have been miserable for many crypto holders in the US Sec crackdown and the altcoin crash triggered a significant downfall in the majority of major cryptocurrencies. However, with this downfall, well-established coins are also trading at discounted prices offering interested traders an opportunity to make their portfolio.
Also Read: Bitcoin Price At a Crossroads Despite Bear Market Stability – US SEC Triggers Altcoins Uncertainty
XRP (XRP) Price Analysis: Range Breakout Opportunity
Source: Tradingview
Despite the increased bearishness in the crypto market, the XRP price managed to hold its higher ground indicating the overall market sentiment remains bullish. Therefore, if market conditions improve this altcoin holds a significant opportunity to witness a bull run.
By the press time, the XRP price traded at $0.5 and resonated in a narrow range spread from $0.55 resistance and $0.486. Both the levels hold strong amid the recent volatile market and therefore, their breakout will significantly impact the near future growth of XRP.
A potential breakout from the $0.55 with daily candle closing could intensify the bullish momentum and surge the coin price beyond the $0.6 mark
Polygon(MATIC) Price Analysis: Ready for Trend Reversal?
Source: Tradingview
During the June 10th sell-off, the polygon(MATIC) price showed a sharp reversal from the $0.51 support. This reversal surged the price by 26% and surged it to its current price of $0.621. With sustained buying, the price may rise another 18% to challenge the long-coming resistance trendline.
The resistance trendline has been carrying a downtrend in MATIC price for the past four months. However, as Dow’s theory of the financial market states, no trend remains the trendline. Therefore, a potential breakout from this trendline will be the key signal to a trend reversal.
A bullish breakout from the overhead trendline will boost the bullish momentum and could push the prices back to $1.55
Polkadot (DOT) Price Analysis: Bottom Fishing
Source: Tradingview
In the weekly time chart, the Polkadot price is strictly between two chart levels, i.e. a downsloping resistance trendline and $4.22 horizontal support. For coin holders the $4.22 stands as crucial footing that’s defending them from excessing downfall, however, on the flip side, the overhead trendline is the resistance undermining buyers’ attempt to rise higher.
By the press time, the DOT price traded at $4.69 close to the bottom support of $4.22. The potential investors waiting for an entry opportunity can grab an entry opportunity at the aforementioned level or wait for a trendline breakout.
A potential breakout could offer buyers a solid launchpad to lead the recovery rally to $9.7.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/cryptocurrency-to-accumulate-for-long-term-growth/