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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Key Takeaways: After trading under the bearish influence, Bitcoin price…
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