Altcoins are thriving! The ones that have experienced a huge rise during the 2021 bull run have again started to swell, hinting towards the return of pro-traders. After a magnificent run, the Bitcoin price has begun to remain stagnant a bit. This has enabled the other altcoins to swell, which have attracted massive gains. XRP & ADA prices, for instance, have surged beyond $1 after remaining stuck below $0.4 to $0.5 for quite a long time. Similarly, here are a few more tokens that may achieve the $1 milestone in a short while from now.
Polygon (MATIC)
- The monthly chart of MATIC price suggests the price is about to experience a fine bullish push, which could initiate a 40% rally
- The conversion & baseline of Ichimoku Cloud are about to validate a bullish crossover, which could further flip the cloud to be bullish
- Besides, the monthly RSI is incremental and could reach the neckline of the parabolic curve at the upper threshold.
- Therefore, the Polygon price is expected to break the resistance at $0.75 anytime from now and secure $1 before the end of 2024
The Sandbox (SAND)
- The SAND price has broken from the multi-year descending pattern, the falling wedge and is accumulating strength for the next bullish wave
- The buying volume has dropped after a massive rise but the sellers are just restricting below the resistance zone between $0.79 and $0.88 while failing to drag the price lower
- Besides, the rally continues to remain within the accumulation phase, as suggested as the indicator just triggered a bullish divergence
- Secondly, the +Di displayed a bearish divergence but no specific movement was seen with the -Di while ADX remained elevated. This suggests the price is preparing for the next upswing beyond $1.
Decentraland (MANA)
- The MANA price is testing one of the crucial resistances within the range of $0.74 and $0.81, which also collides with the 200-day MA.
- This range also collides with the neckline of the Adam and Eve chart pattern, which includes a v-shaped recovery followed by a parabolic curve.
- Besides, the RSI is about to re-enter the overbought zone, which may end up in a small pullback
- Therefore, the MANA price could rise beyond $1.1 and face a pullback to the zone, followed by a healthy rise towards the higher targets
Algorand (ALGO)
- Algorand price has reached levels not seen since November 2022 and hence the token is expected to remain elevated as buying volume has increased heavily
- Besides, the RSI has entered the overbought zone and shows no signs of deviation, but after some point, the levels have to face rejection
- Therefore, the price is expected to reach $0.82, which may attract some bearish activity but the current support zone between $0.39 and $0.45 or a little higher, could offer a base to trigger a strong rebound
- With this, the price may remain elevated and mark $1; meanwhile, if the resistance at $0.66 holds the rally, the bearish narrative may fade off
Other than these tokens, the two altcoins that are very close to reclaiming $1 are Mantle (MNT) & Ethena (ENA). However, the bears seem to have captivated the rally and hence they may consume some more time before marking the next bullish move to $1.
