The cryptocurrency space has been going through a roller coaster ride since the start of the week as the global market capitalization is stuck around $1.12 trillion, having raised above $1.2. Meanwhile, the market cap of the altcoin rallied above $700 billion. In addition, the declining dominance of Bitcoin has fueled speculation about increasing the strength of altcoins in the market.
Hence, below are some altcoins that are likely to sustain a significant rally in the coming weeks.
Chainlink (Link)
Chainlink price broke above a symmetrical triangle and hit a key resistance near $10. Although a slight rejection halted the price rally, mounting buying pressure could eventually propel the price above $10 during the weekend. Weekly trades may start bullish but face correction in the middle of the week, but eventually, maintain the $11.3 resistance level and settle around $12.8 by the end of the week.
Quantity (QNT)
Volume price is undergoing a parabolic recovery to retest the key resistance level at $150. The first altcoin faced rejection at these levels and may repeat the trend but certainly did not drop as hard as before. As the asset continues to form bull flags and hold higher levels, another breakout from bullish flags could secure levels above $150 in the first few days of the coming week.
Polygon (MATIC)
MATIC price just broke above the $1 resistance level but has yet to confirm the upside but close the day trade near $1.1. However, fears of a fall below $1 until then could disturb the price rally. Meanwhile, there has been a steep decline in trading volume which cannot give a broader push to the price, so the price has to undergo an increasing consolidation. Therefore, MATIC price may eventually consolidate in weakness above $1 and move substantially towards the lower support level of $0.96 a couple of times.
Celsius Network (CEL)
Celsius Network recently filed for bankruptcy which greatly affected the price of CEL. However, prices have registered a jump of over 185% since the beginning of the week, while periods of low pressure were prevalent within the space. Buyers are now exhausted and hence the possibility of an interim pullback emerges. Conversely, the bears stay away from the edge and for this reason, volatility may continue in the coming week.
flow (flow)
It seems that the flow price has slipped from the lower support and by that, it has reversed the price trend. The price saw a significant amount of buying, much of which ended in waning bearish effects. Hence, with the next move, Flow price is expected to climb closer to $4 and collect strength by cutting these levels. By the end of the week, the price could move up by 20% to 25% to a safe level near $4.