New Price Levels for Altcoins: Analysis by Crypto Banter
A recent analysis by Crypto Banter has identified new notable price levels for several prominent altcoins, including XRP, Solana (SOL), Chainlink (LINK), Fantom (FTM), and Polygon (MATIC). These insights offer a fresh perspective on potential entry points for bullish positions in the current market.
Solana (SOL): An Intriguing Level to Watch
Crypto Banter singles out Solana (SOL) and notes that $48 is an “intriguing” level to watch for any pullback. Historical data consolidating around this price point on the SOL/USD weekly chart suggests it could be an optimal buying zone if prices drop to this mark.
Chainlink (LINK): Hot Zone at $13.3 to $12.2
For Chainlink (LINK), Crypto Banter identifies $13.3 down to $12.2 as a “hot zone.” A drop below this range might indicate a critical reversal point at the $9 level.
Polygon (MATIC): Potential Bounce Back at $0.68
Crypto Banter observes a break in the 200-day moving average on Polygon’s weekly chart timeframe. This suggests a potential bounce back at the $0.68 zone, possibly leading to a rally.
Fantom (FTM): Significant Pump with Retraction Towards $0.25
Fantom (FTM) has shown a significant pump of over 50% since late October. However, there may be a retraction towards the 200-day moving average, making the $0.25 region attractive for those employing a dollar-cost averaging strategy.
XRP: Nearing a Critical Juncture
XRP is nearing a critical juncture from a technical standpoint. The 12-hour chart for XRP shows a recent rebound off the 50-day moving average, and a turnaround around the $0.54 price region could occur if the ongoing pattern along the downward trendline persists. Key moving averages converge to form a support zone around this level.
Hot Take: SOL and FTM Stand Out with Significant Gains
Among the altcoins highlighted by Crypto Banter, SOL and FTM have seen significant gains. Over the past two weeks, Solana has increased by 13.8%, while Fantom has climbed by 8.3%. This analysis highlights the diverse performance landscape among these notable altcoins.
Featured image from iStock, Chart from TradingView
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