The crypto-verse has displayed a strong bullish recovery during the second half of January after recording a strong bearish action during the first half. Following this, the altcoin market has displayed a significant rise in volatility with multiple tokens heading toward a new ATH.
Evaluating the current market trends, top traders and investors are curious with questions like “Is this a good time to invest in altcoins?” In this article, CoinPedia’s expert panel has uncovered the market sentiment and possible monthly price analysis of 3 undervalued altcoins.
Solana (SOL)
Despite recording a correction of 6.52% in seven days, the Solana price has jumped 12.82% over the past month and has a Year-to-Date return of +22.19%. This highlights an increase in the long-term bullish price action for the 05th largest cryptocurrency in the market.
The Relative Strength Index (RSI) continues hovering around its neutral point in the daily time frame with a bearish curve. Furthermore, the EMA 50-day acts as a support in the Solana price chart. This suggests increased buying pressure for the altcoin in the market.
Maintaining the price above its resistance level of $237.50 could set the stage for the price of Solana to head toward its high of $300. On the contrary, if the bears outrun the bulls, this could pull the SOL crypto toward its low of $210.
Planning on investing in SOL crypto but filled with questions like “Can Solana hit $1000?” Read Solana Price Prediction to uncover the possible long-term price mysteries!
Lido Dao (LDO)
The LDO price has added 6.67% to its valuation in 24 hours and has jumped 14.18% over the past week. Notably, this altcoin has surged over 30% this year alone, resulting in it achieving a market capitalization of $2.044 billion.
The Moving Average Convergence Divergence (MACD) records a constant green histogram with its averages displaying a significant rise in the daily time frame. Moreover, with its SMA indicator constantly supporting the price chart, the LDO coin price may continue gaining value in the coming time.
If the market favors the bulls, the Lido Dao price will retest its upper resistance level of $3 this month. Conversely, an intensified bearish action could result in it retesting its low of $1.840.
Curious about the long-term price projections of the LDO crypto coin? Read the latest Lido Dao Price Prediction!
Chainlink (LINK)
The LINK price has maintained its bullish price action by adding 3.92% in 24 hours and 15.41% over the last seven days. Moreover, with a YTD return of +27.53%, the Chainlink price has secured the 11th position with a market cap of $16.286 billion.
The EMA 50-day constantly supports the Chainlink price chart in the daily time frame. Moreover, the RSI indicator records a bullish convergence in the daily time frame. This indicates a positive outlook for the price of Chainlink in the upcoming time.
Suppose, the bulls continue dominating the crypto space, in that case, the LINK price will surpass its important resistance level of $26 and head toward its upper high of $32. However, a bearish reversal could pull the price toward its low of $20.
Are you wondering about LINK crypto but concerned about its future prospects? Read Chainlink Price Prediction!
FAQs
If the bullish sentiment sustains, the SOL coin price may reach a maximum trading value of $400 this year.
With increased adoption, the LDO price may surpass the $10 mark by the year 2030.
Amid increased price volatility, the LINK coin price could range between $31 and $47 this year.
