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With the growing optimism within the markets, Bitcoin and altcoins have surged beyond crucial resistance, indicating the beginning of a bullish trend
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Polygon, Tezos and some of the altcoins display a huge tendency to soar beyond the interim milestone at $1 before the end of the year
The crypto markets are entering the initial phase of a fine bull run as the star crypto, Bitcoin, has smashed above $41,000 during the past weekend. While market sentiments have flipped in bullish favour, the altcoins are also gearing up to set a substantial rise towards their targets. Here are the top altcoins that are believed to reach $1 in the coming weeks and set up the base for a strong bull run.
Polygon (MATIC)
- The MATIC price has regained bullish momentum as the token recently underwent a ‘Golden cross’ which pulled the price above the bearish well
- After setting up consecutive bullish daily closes, the token witnessed some bearish actions during the weekend, but the bullish start for the week retained the expectations of a strong ascending trend
- The DMI has just turned bullish as the ADX has displayed a bullish divergence with a bullish crossover between the +Di & -Di levels
- The price has rebounded from the interim lows and is now believed to surpass the diagonal resistance and reach $1 before the end of 2024
Tezos (XTZ)
- The XTZ price has been constantly testing the diagonal resistance for the past few days, but the bulls appear to have fallen short of strength
- Even though the price has been varying to a large extent, the RSI has been trading along the lower trend line, suggesting the token is maintaining a fine rise in the coming days
- Therefore, the price is believed to pierce through the immediate resistance zone between $0.872 and $0.883 and consolidate for a while
- Further, a significant upswing could trigger a notable rise beyond $1, while the time frame does not appear to be restrictive for the end of 2024.
What’s Next for Cardano & XRP?
Cardano and XRP have been consolidating within a narrow range below $1 for quite a while. The 2022 bear market has adversely affected their value to a large extent, preventing the price from rising above the crucial resistance. The ADA price is currently trading at $0.4074, while the XRP price is around $0.6327. Both tokens have been displaying the potential to maintain a fine upswing but may consume more time than expected to reach the milestone at $1.
