The cryptocurrency markets are starting to gain momentum, with Bitcoin and altcoins showing signs of upward movement. The recent price action has pushed the markets beyond key levels, indicating the possibility of an upswing, but also the potential for a correction. Crypto analyst Micheal van de Poppe identifies potential trade setups for Bitcoin, Polygon (MATIC), Ripple (XRP), and Litecoin (LTC).
In terms of Bitcoin, short-term trading has been restricted due to low volume and volatility, but the long-term outlook remains bullish. The weekly chart shows a strong signal, with the 200-week MA and EMA holding and a higher low forming, suggesting a potential rally before a correction.
Polygon’s price has been in a declining trend, but recent bullish activity has halted the downward movement. Technical analysis indicates a possible bullish breakout if the price can flip $0.75.
Despite facing bearish action, Ripple’s price is still on an ascending trend towards the $0.55 target. The token exhibits strength and is expected to continue its upward movement.
Litecoin has been trading within an ascending channel and is showing significant strength ahead of the anticipated halving event. A breakout above recent highs could trigger a massive upswing towards $180 after a slight correction.
Overall, the cryptocurrency markets are experiencing a mix of bullish and bearish signals, with the potential for significant price movements in the near future.
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