Published 10 mins ago
The ongoing recovery in the crypto space has taken a minor halt due to increasing FUD among market participants. However, a temporary consolidation could assist buyers to recuperate the bullish and prolong the bullish recovery witnessed in the last two weeks. Here are some of the Top Midcap cryptocurrencies that show price setup of significant growth.
Solana(SOL)
Source- Tradingview
Under the influence of a downsloping trendline, the Solana coin price has witnessed a steady downfall for the past ten months. The multiple reversals from this trendline indicate the traders are aggressively selling during bullish pullbacks which is a key trait for an established downtrend.
By the press time, the Solana price trades at the $21.4 mark with an intraday loss of 3.5% loss and a current Market Cap of 8.2%. Furthermore, the daily chart showcasing rejection candles near the overhead trendline indicates the coin holders may have another bearish correction.
However, a potential bullish breakout from the resistance trendline will offer an early sign of trend reversal.
Litecoin(LTC)
Source- Tradingview
In the daily time frame chart, the Litecoin price shows the formation of a rounding bottom pattern. This bullish pattern shows a U-shaped price structure, consisting of a prior downfall, middle accumulation, and a parabolic recovery.
As of now, Litecoin price trades at $90.457 with a current market cap of $6.6 Billion. This altcoin is currently at the initiates stage of price recovery and has the potential to reach the pattern’s neckline resistance at $278.
Also Read: Top 6 Liquid Staking Platforms On Ethereum
Chainlink(LINK)
Source- Tradingview
For the past ten months, the Chainlink coin price showcased a sideways trend, with $9.5 as buying climax and $5.5 as the selling climax. Amid the recent recovery in the crypto market, the coin price is rising in a V-shaped recovery rally and has reached the current price of $7.295.
The Chainlink coin’s current market cap stands at $3.78 Billion, with a 24-hours trading volume of $310 Million.
The interest buyers waiting for an entry opportunity can accumulate at $5.5 support or wait for the $9.5 resistance breakout.
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/top-3-midcap-cryptocurrencies-invest-in-before-2023-bull-run-begins/