Altcoins

Top Altcoin Which May be the Best Bet Before the Beginning of the Altcoin Bull Cycle!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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May 23, 2022

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Highlights

    Altcoins currently appear to show some strong bullish momentum which could uplift the price from the current consolidation zone

    The assets like Near Protocol, Chainlink, Decentraland & Thorchain may thrive with a huge margin soon

The crypto space recovered considerably over the weekend as Bitcoin price regained its position above $30,000 again. With a minor relief, most of the altcoins are now appearing to set up a path towards the upper resistance soon. However, some of the new and some veteran altcoins that remained silent for more time, are now poised for a larger move. 

Near Protocol (NEAR)

nearprice
  • Near Protocol price is currently consolidating between $5.59 to $7.63 from an extended period displaying an extended consolidation
  • Yet the RSI is ranging significantly high despite the stagnant trend of the asset and hence displaying a huge chance of an ascending trend ahead
  • However, it is currently unsure whether the asset could make it to the double-digit figure or not but it seems like the price is all set for a quick upswing

Chainlink (LINK)

linkprice
  • Chainlink is swinging within an ascending triangle ever since it flipped from its lows below $5.5 
  • Therefore, the price is expected to maintain a slow yet steady upswing until it reaches the immediate resistance at around $8
  • Here the possibility of rejection is pretty high and hence it may face a retest towards the resistance again before spiking towards $8.5 to $9 levels

Decentraland (MANA) 

manaprice
  • On the other hand, MANA price is extremely bullish as it is all set to break out from the bullish flag formed within the descending triangle
  • Therefore, an upward swing towards the $1.5 is pretty possible and as it is swinging within a descending triangle a rejection appears imminent
  • However, the lower above $0.7 could hold the price strong and ignite a flip so that the price could regain its initial levels

Thorchain (RUNE) 

runeprice
  • Thorchain price from more than a year is maintaining the same descending trend line after facing huge rejections at the resistance
  • However, following the similar pattern as before, the price is expected to consolidate for some more time and eventually kickstart a strong uptrend
  • The uptrend may uplift the price close to $10 but just before achieving these levels a significant drop is witnessed

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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