After maintaining a bullish trend for two consecutive weeks, the crypto space is on the verge to record a bearish close. The bears appear to have been prominently active for the past couple of days, yet the crypto market capitalization remains above $2 trillion firmly. While Bitcoin’s price is regaining its position above $46,000, the other altcoins are also geared up to test their rally strength in the upcoming days.
Polkadot (DOT) Technical Analysis for Short-Term
- The DOT price ever since flipped from the bearish trend maintained a significant uptrend channel
- Previously its attempt of breaking through the channel and rising high went in vain and slipped heavily within the channel
- Yet the present trend suggests that the price may follow the channel until it gets the required support to break through the channel
- And eventually, attempt to close the weekly close above $25 and try to sustain at these levels for a fresh bullish start for the week
Compound(COMP) Technical Analysis for Short-Term
- The COMP price geared up notably in the last couple of days of the previous month’s close and made some large moves
- The moves currently have induced massive strength in the rally with the display of a huge upswing is fast approaching
- Therefore, the narrow consolidation is expected to continue for some more time as the price is yet to reach the apex of the ascending triangle.
- With a break out from the pattern, the price is expected to set-off to hit the immediate resistance at $175 and later test $200 buy the mid-April.
Chainlink(LINK) Technical Analysis for Short-Term
- Pretty much similar to Polkadot, LINK price is also following a parallel channel by hitting the upper resistance multiple times
- However, the recent slash compelled the price to visit the lower support but quickly the asset managed to rebound and ease the bearish pressure to some extent
- Currently, it is accumulating strength at the middle bands and very soon may determine the next leg depending on the volume mounted
- If the asset makes it from the consolidation then it may hit the levels around $18.5 and on the flip side if it fails, then may plunge below $17
Additional Read: Chainlink Technical Analysis: Will LINK Price Surge 10% to Hit $15?
Celer Network(CELER) Technical Analysis for Short-Term
- The CELR price failed to utilise a huge bullish pattern formed but remains with the bullish trend aiming at a breakout
- No doubt an initial attempt was not more than a fakeout but a flip from the support at the moment may certify a notable uptrend waiting ahead
- The uptrend may escalate the price by a minimum of 10% to 12%, later the nearest resistance may be the next stop
- However, the volume remains depleted heavily which points toward a consolidation phase for another couple of days
Additional Read: Celer Network Technical Analysis: CELR Price Initiates a Flip, Will it be Sustained?
Kusama (KSM) Technical Analysis for Short-Term
- The Kusama price appears extremely bullish and may hit $200 any time from now as it is following a significant uptrend within a squeezing channel
- The price is not manifesting extreme volatility to keep up with the bullish momentum and following the same channel may lead the price to test $210 suring the weekend
- However, on the flip side, the price may yet again be dropped below $190 if incase the asset fails to hold the uptrend
- Yet a huge volume is expected to flood in as the zones below $190 are among the demand zone area.
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
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