Bitcoin seems to be stuck in the $29,300 price range, with the price largely moving sideways. After altcoins surpassed significant resistance levels with the Ripple news, they began testing support levels with the BTC drop. The stagnant price reminds us that low volatility will not last forever.
Polygon (MATIC) Review Chart
Polygon has been trading between moving averages for the past three days, indicating a struggle between bulls and bears. If the price falls below the 50-day SMA ($0.69), bears will clearly take control. Afterward, the MATIC price could drop to $0.65 and $0.6.
On the contrary, if the price rises and crosses above the 20-day EMA, it will indicate that bulls have defeated bears. This could initiate a recovery towards $0.80 and then $0.90. At the time of writing, the popular altcoin found buyers at the $0.71 level.
Litecoin (LTC) Review Chart
August has arrived, and based on miners’ current performance, halving will take place on Thursday. There have been two previous halvings, and the price has shown negative trends after the block reward reduction. This time, LTC Coin may break the pattern, and we can expect increased volatility starting from August 3. If Friday’s upcoming US data favors cryptocurrencies, the overall market may rise, allowing LTC Coin to climb higher due to the halving effect.
Regarding the price, Litecoin is attempting to recover. Bulls have currently managed to surpass the 20-day EMA ($92) resistance. If the price turns down from the 20-day EMA and falls below $87, the target could be $81. However, if the uptrend continues due to the halving effect, the target could be $106 and $120 after overcoming the weak resistance at $96. At the time of writing, the price had risen to $94.
Polkadot (DOT)
On Tuesday, Lido DAO will end its staking program for DOT and KSM. This could have a negative impact on the price. On the other hand, at the time of writing, the popular altcoin was finding buyers at $5.25. Bulls have been struggling to push Polkadot above the 20-day EMA ($5.24) for the past three days but have been unsuccessful.
Sellers will try to strengthen their positions by pushing the price below the 50-day SMA ($5.05). If successful, the DOT/USDT pair could drop to the next support at $4.74 and then $4.65. Although news flow supports the drop, a surprise rise could target $5.64.
