Post the May market crash, Asian markets yet again fall for restriction FUDs as a massive sell-off is ensuing during Asian trading hours. In the meantime, US UK traders have been occupied in accumulation. Howbeit, as the trend has been slowly shifting gears to a bullish stop, YFI, LINK, VET, and ADA appear to be prepping for a massive rally by Q1 2022.
Yearn.Finance (YFI) :
Yearn. Finance (YFI) price has finally encountered bearish dominance with a clear breakout at $18,904 on December 15th. Further, the asset cleared the resistance barriers well above 20-50 days MA. RSI on the other hand has been hovering above overbought territory.
However, the YFI price is still well below its previous ATH by more than 50%. At present, the price is trading at $32,700 with more than 30% profits round the clock. In order to reclaim its price above $50k, the asset needs to pass the resistance test between $40k to $42k. On the contrary, in case of bearish divergence, the price would consolidate around $26.7k.
Chainlink (LINK) :
It’s been more than a month since the LINK price has been suppressed under the bearish rule. Yet, since the start of December, the asset has been trading within a narrow rangebound scale. Whilst, as the range has been getting narrow every day, a breakout in the next couple of days would be imminent.
As 20 days MA is slowly surpassing 50 days MA, LINK price is looking closely at $19.03 to breakout. The asset could initially surge up to $25, if it passes the resistance, then it would climb up to $34 quickly in the upcoming bull cycle. If it further moves downwards, then it is expected to retest crucial bottom around $15.
Vechain (VET) :
Vechain (VET) is seen consolidating around $0.07851 from the past couple of days, thereby bulls are saving prices from falling below 20-50 days MA. If bulls allow breakout at present support levels around $0.0815 then a 50% surge looks imminent. The VET price would rise up to $0.1752 if it further flips 200 days MA around $0.111. On the contrary, if bears continue to predominate the space, then it would further correct $0.04 bottom levels.
Cardano (ADA) :
Cardano (ADA) price has been under the bearish realm since the launch of its Alonzo hard fork upgrade on September 12th. The altcoin is back to its initial levels of early 2021, however, there have been solid signs of bullish divergence at $1.22. Break out would yield ADA price to surpass 200 days MA in order to climb up to $2.5. On the contrary, it is expected to gain substantial strength around $1.22 before resuming with the bull rally.
Collectively, the aforementioned altcoins are most likely to replicate their early 2021 rally. Interim, it’s been more than a month, these coins have been under a prolonged consolidation. Whilst crypto markets are driven by sentiments, their efforts in achieving strong fundamentals will yield catalyze their gains during bull markets. However, the next couple of weeks plays a key role in deciding whether we are going to have a bull market by Q1 2022 or not.