Altcoins currently undergoing a downtrend could gather enough momentum to resume with the uptrend soon
Assets like Zilliqa, Harmony, Kusama, Chainlink, etc could rebound to reach higher highs very soon
Most of the cryptocurrencies in the crypto space are undergoing a downtrend as Bitcoin prices also slip below $45,000. However, Ethereum price still stands strong above $3200 indicating the possibility of just a healthy correction. However, post to the healthy correction some of the altcoins like ZIL price, ONE price, Chainlink price, etc could regain lost positions.
Zilliqa (ZIL) Price
Zilliqa price rebounded well at the strong support levels around 183 SATS or $0.05 earlier. And despite the recent sell-offs, the price restricted itself revisiting the same levels. And hence showcased a strong bullish momentum to range high. Unfortunately, the price also faced rejection at 271 SATS or $0.13, yet heading strongly towards these levels again. However, these levels are currently pivotal levels to be achieved in order to resume an uptrend. And until then we can expect forming only higher lows.
Harmony (ONE) Price
Harmony price unlike ZIL, marched high in order to form its new ATH at $0.229 in th early trading hours. However, currently, the price faces a slight pullback, yet the bullish momentum appears to be intact. The coins are rallying heavily in the recent weeks probably the ONE price could range high, swinging within the discovery mode to hit its new ATH at 600 SATS or $0.2681.
Kusama (KSM) Price
Kusama price could continue with the uptrend, it followed since it flipped the $144 support levels. Despite an extreme sell-off the price quickly regained its lost positions above $400 in no time. However, in the path towards forming new highs above $500, the KSM price could undergo a healthy pullback towards $348. With an extreme bullish momentum, the price could ultimately march towards $518 in the coming days.
Chainlink (LINK) Price
Chainlink price has faced multiple rejections at $30, the past week sell-offs being the most recent one. Yet the price remains pretty bullish as it bounced well from the support levels around $25.15. However, $32 could be the initial target for the asset in order to frame the path towards its ATH above $52.
Mina (MINA) Price
Mina price is among the newest coin in the crypto space. The coin started the trade with a pretty big green candle, yet failed to maintain the uptrend and consolidated. The accumulation went on for a stipulated time until the token ranged high to hit more than $6. Despite a slight pullback, the price remains bullish and could range towards $8 soon.
Elrond (ELGD) Price
Elrond price after ranging high to form a new ATH at $294.92, just slipped down to the current levels around $282. Yet marching strongly towards its highs, undergoing slight pumps and dumps. Currently, the price is swinging around 1.618 Fibonacci extension and the people already holding could extract their profits. However, it is not a proper time to enter the trade as a notable pullback could hinder the rally.
Serum (SRM) Price
Serum price had smashed new highs a couple of days before, ranging high above $13. Yet a notable pullback, dragged the price close to $10.6. However, despite a 15.65% dip, the price appears to be poised to regain lost positions. As far as the SRM price sustains above $10, one can expect a healthy surge ahead.
On the whole, it appears like a bearish trap well before a bull market ahead. The major tokens despite a notable dump, yet attempt to sustain above important levels. Despite the bearish trend prevailing within the space, yet some of the altcoins appear to be pretty bullish. Therefore, considering the uptrend of the notable tokens, the Altseason is expected to be very bullish.