In a week characterized by a plethora of tantalizing news, the cryptocurrency market has seen significant volatility, with the price of Bitcoin constantly hovering around the $30,000 mark. Bitcoin’s recent rally has restored its 50% market dominance. Therefore, investors have turned their attention to other digital assets that may participate in this rally. The altcoin market is expected to align with this uptrend and experience a surge in the coming days, capitalizing on the momentum generated by Bitcoin.
Must-have altcoins ahead of next week’s rally
Last week was very good for the crypto market as it surpassed the market cap of $1.2 trillion, and major coins saw massive gains. Bitcoin price is up 16% in the past 7 days, and top altcoins have made impressive gains over the past week. While memecoins like PEPE were dominating, investors are now looking for the next altcoins that could explode, and among these, Polygon (MATIC), Litecoin (LTC) and Ripple (XRP) are three altcoins that are on the verge of overtaking the resistance in the future. week.
Polygon Price Analysis (MATIC)
MATIC price saw a remarkable increase after experiencing a sharp decline. Over the past 7 days, MATIC’s price has gained more than 10%, luring whale investors near its current low. At the time of writing, Polygon is trading at $0.677, down more than 0.26% in the past 24 hours.
Polygon’s MATIC is experiencing a push above the critical $0.69 level; however, it continues to face strong resistance from the bears.
If the bulls manage to lift the price above $0.69 and hold it, we could see a more robust recovery towards the 50-day EMA at $0.78 next week. This level could pose another challenge, but if overcome, the MATIC price could skyrocket to $1.
Litecoin (LTC) Price Analysis
As Litecoin’s halving approaches, its price is seeing a massive rise, registering a rise of more than 16% in the past week. Currently, the LTC price is trading at $89.67, down more than 2.5% from yesterday’s rate.
Buyers intensified their buying pressure after LTC price broke above $78, forcing sellers to close out their short positions. The 20-day EMA at $84 has started to rise and the RSI has moved into the positive zone, suggesting that the bulls are taking control. There is minor resistance at $92, but if broken, the LTC price pair could surge towards the crucial $103 level.
However, for next week’s trend, LTC price should test the 100-day EMA line before a bullish reversal.
Ripple (XRP) price analysis
The price of XRP is currently confined to a range below $0.5, as the final outcome of the ongoing SEC lawsuit has yet to be determined. However, the rally in XRP gained ground, with the bulls propelling the price above the 20-day EMA at $0.45.
The elongated wick on today’s candlestick indicates that the bears are not ready to concede easily. If the XRP price breaks above $0.53, it could validate a mild uptrend next week.