Attention Traders: Bitcoin Price May Display a Diverse Trend in the Next 10 Days-Here’s the Potential Target
The whole world is watching the American banking condition with fear while the crypto markets continue to stand strong and thrive. The recent bank to join the ripple of fallouts is the First Republic bank. The banking giants like JP Morgan, Bank of America, CitiGroup, etc are making uninsured deposits and trying to save the bank from collapse.
Besides, Bitcoin made a surprising move above $27,000 as the banks continue to collapse. The wave of fallouts has benefited the crypto space massively as the recent report of First Republic Bank facing issues, raised the BTC price above crucial levels. However, the upswing may be halted for a while as the possibilities of a minor downswing emerge.
The market is currently at a stage where there is a certain dissonance between the news background and price movements. The BTC price is displaying a giant price movement which may be subjected to massive correction sooner or later. The price still carries the potential to rise beyond $28,500 and reach the target of $30,000 but only after a certain correction phase is triggered.
As seen in the above chart, the price is trading forming a wave pattern, which displays the prospects of the crypto market in the coming days. The Bitcoin (BTC) price is expected to rapidly drop from $21,000 to $21,500 where-in the traders are expected to accumulate heavily. This may trigger a strong rebound that may rise the price levels close to $30,000 in the next couple of weeks.
Therefore, the upcoming couple of weeks may be very important for Bitcoin and the entire crypto space as a significant plunge is expected to induce a catapult action over the crypto.
Altcoins Like LUNC, LINK, LTC, MATIC & AVAX To Show Diverse Action Soon!
Crypto markets remained heavily consolidated during the past weekend as Bitcoin price continues to trade along the same support zone. The star cryptocurrency closed the previous week at around $19,000 with low volatility and low volume. The markets barely moved, flashing strong signs of exhaustion as the indices kept on falling. Therefore, in such a scenario where the volatility period extends heavily, a big move may be speculated on in the next couple of weeks.
With a slight change in the market sentiment, some of the major altcoins may also rise with huge bullish momentum.
Chainlink prices have been displaying significant strength since the beginning of September, and after a minor bounce, it may begin with a firm upswing soon. However, considering the present price action, the LINK price is expected to accumulate some strength. As the volume has been slashed, the price may witness a slight pullback. Further, a gigantic upswing may bring the price close to $10 if it manages to sustain above $7.65.
Terra Classic (LUNC)
Terra Classic‘s price leapt long during the past weekend and attempted to reclaim the crucial resistance at $0.00036. However, it displayed a significant strength as it managed to trade above $0.00032. If the price manages to sustain within the resistance zone without flipping, then a notable upswing may make its way out. Otherwise, the price may continue to trade around $0.0003 for a longer time. On the brighter side, a breakout beyond $0.00036 may pave the way for a significant upswing beyond $0.00045.
After a gigantic rally, Litecoin prices are currently consolidating heavily and plunging down towards the lower crucial zone. However, despite a notable pullback, the prices are required to hold the lower crucial levels between $43 and $46. If the price HODLs at these levels, then a notable upswing towards a 3-digit level could be imminent only after it tests and clears the pivotal zones at $81.
Despite a bearish month-end, the Polygon(MATIC) price is displaying acute strength as it sustains firmly above $0.75 after reclaiming the pivotal area around $0.72. The assets usually turn highly volatile as they surpassed $0.72 levels and hence also carry the possibility of a retest to $0.65 levels. If it manages to hold above $0.75, the price levels may rise beyond $0.80 very soon.
Avalanche‘s price displays a contrast rally compared to all the above altcoins, as the asset appears to be primed for another 10% drop in the coming days. Moreover, the platform lags volume & volatility which may drag the price close to $16 or even below these levels. If the price holds at these levels, then an upswing may rise the price close to $18. In contrast, a failure may lead the price to drop hard to $15.75 initially and later to $14.
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These Altcoins are Expected to Manifest a Diverse Trend by the Weekend!
The top 2 crypto assets Bitcoin & Ethereum have been reckless for more than a couple of months. The current trend is flashing a notable upswing closely approaching, but the technicals point to a diverse trend ahead. Amidst the swelling market sentiments, some of the altcoins may undergo a significant trend reversal soon.
Solana’s price is cemented along the support levels around $30 for nearly a week now. Hence extreme pressure on either of the sides may further enable the price to break out of the consolidation, regardless of the direction.
The SOL price is closely trading around $30 but the technicals suggest a notable drop may be fast approaching that may land up the price around the mid-20s. After reaching the last point of defense above $20, the price may rebound back above $30. Else a continued bearish trend may drive the price below $20.
Polkadot price in the near times has been pretty bearish, moreover, after the May crash, the asset is failing to inculcate a significant bullish momentum. Currently, the DOT price is consolidating within a very narrow range which points toward an interim bounce in the short-term ahead.
After the rejection of close to $10, the asset dropped heavily below $7 for the consecutive time forming a double-bottom pattern. Therefore, the plunge is expected to hit the lower bottom below $5 at around $4.5, and look out for a bounce. Further, a notable upswing above $10 may enable the price to hover in a bullish region or the neckline of the pattern.
This may further enable the price to inculcate a significant bullish momentum to pull a massive leg up above $15 very soon.
Near Protocol is displaying a slightly more diverse trend than Polkadot. The asset appears to have been preparing for a parabolic recovery to reach beyond $6 initially. Further, the bulls are expected to uplift the price above the crucial resistance at $7.5.
Currently, the NEAR price is trading at the resistance and after a brief consolidation is expected to slice through the resistance and spike high to reach the target close to $5. On the contrary, if the bullish trajectory invalidates, it may again test the lower support to accomplish the double bottom pattern.