The crypto space is currently going on with a roller coaster ride as most of the tokens are experiencing a tough time in sustaining above certain levels. No doubt the current market trend is pretty bullish, yet assets like Bitcoin, Ethereum, Cardano, etc fail to smash the immediate target. Yet among them, some altcoins showcase a huge tendency to hit higher highs in a coming couple of days.
ATOM/USD pair is showcasing immense bullish momentum after it flipped the bottom levels at $18.29. After smashing the highs at above $38, the price initiated with a healthy consolidation that also includes slight selling pressures also. And despite a minimal pullback, the ATOM price is still above $35.
The price with a rebound appears to have following a pattern. With a sufficient uptrend, the price quickly enters consolidation. However, after a healthy accumulation, the price pulls its next leg up towards new highs. And hence the possibility of breaking this consolidation appears more by forming yet another ATH soon.
Chainlink price, currently, attempting very hard to smash the immediate resistance levels at $29.17. The price still hovers around the consolidation after the recent massive sell-offs which drained nearly $10. Yet the price is recovering bit-by-bit and could trend above $30 in the next few hours.
Currently, the price is trending within a symmetrical triangle and approaching its peak. The price tends to explode as the peak triggers the upcoming rally. But the direction of the price momentum will not be known. And hence maintaining a positive take, the price could eventually break the upper barrier and move towards the north.
The XTZ price appears to have to trend inversely parabolic by shedding more gains. It was expected that the altcoin could revisit lower lows, yet with a regaining momentum, the speculation of a bearish trend is extended to some extent. The buying pressure currently appears to have been accumulated that eased the sell-off.
The trading volume remains has not much depleted as for the reason the price is receiving enough strength to surge. Also, a small bounce is witnessed with the RSI and the MACD is also showing ease in the selling pressure. And hence the buyers could eventually jump in any time from now to uplift the price.
The asset was falling into a bearish divergence for the past couple of days. However, a notable rebound prevented from incurring a further loss. The price is currently gathering immense bullish momentum as the buyers have already jumped in.
Interestingly, the trading volume also has managed to surge, creating more fluctuations in price and the trend. The volume is expected to increase very soon which may assist in the price to regain the lost positions.
Collectively, with the drop in Bitcoin dominance, many altcoins have inculcated a bullish trend. And hence, altcoins like ATOM, LINK, XTZ, ONE etc, could reach high very soon in the current bull market. Also, BTC & ETH prices which are swinging in a narrow trend could break the barriers soon.