As this article is being written, the king cryptocurrency is attempting to surpass $37,000, continuing its November rally. The rally that started in October has allowed the Bitcoin price to recover to levels where the decline accelerated in 2022. The recent price movement shows that both the rise and the fall can be impressive and persistent.
Chainlink (LINK) Analysis
The excitement in the RWA sector prior to the BTC rally enabled the LINK Coin price to recover. Thus, the declining trend line that has been in place since August 2020 was surpassed. LINK Coin left behind the 1,150-day resistance line, signaling a strong indication of a long-term upward movement.
LINK is approaching the resistance area of 43,000 satoshis, which has been in place since the beginning of 2022. If we can see a break from this area, its gains against BTC can increase by 90% and target the next resistance at 75,500 satoshis. Despite the bullish prediction, the price may retreat by 35% to the support level at 25,500 after approaching the resistance area.
Polygon (MATIC) Analysis
In October, the price retreated to the support area of 1,850 satoshis, where it found the bottom of the downward movement gaining momentum in March. MATIC Coin price, which started to recover against BTC last week, increased significantly. At the beginning of the bull season, investors should focus more on the performance of altcoins against BTC rather than USD pairs.
The weekly RSI supports the rise, and MATIC Coin price can achieve a 50% gain against BTC.
Solana (SOL) Analysis
Solana (SOL) is among the altcoins that initiated a strong movement against BTC. The chart here is similar to Chainlink‘s chart, and SOL Coin has broken out of the long-term declining resistance trend line. Last week, SOL reached its annual peak against BTC at 134,800 satoshis, surpassing the 113,000 satoshi resistance area. The weekly RSI also supports the continuation of the uptrend.
If the current rally continues, it can surpass the 200,000 satoshi level with a 50% increase. However, a weekly close below the 113,000 level may lead to a 35% decline.
If the Bitcoin price consolidates above $36,500, the two- or even three-digit gains in altcoins may no longer be a dream.
Sorumluluk Reddi: Bu yazıda yer alan bilgiler kesinlikle yatırım tavsiyesi içermez. Yatırımcılar, kripto para birimlerinin yüksek volatilite ve dolaysıyla risk taşıdığının farkında olmalı, kendi araştırmaları doğrultusunda işlemlerini gerçekleştirmelidir.
