Price Analysis

Global Crypto Market Cap to Hit $1.6T Soon! Litecoin, Cardano, Polygon Price May Outperform Many!

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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Jul 26, 2022

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Article Highlights
  • The Global crypto market cap appears to have ignited a rebound from the recent bottoms and hence is expected to regain the levels very soon

  • On the other hand, some of the altcoins like Litecoin, Cardano & Polygon may display a thunderbolt price action very soon

The Global Crypto Market Capitalization tanked down below $1 trillion in the early trading hours, tumbling down by nearly 4%. Most of the assets also witnessed a heavily drain as the star crypto struggles to maintain above $21,000. However, the uncertain price action is expected to ease very soon as a crucial rebound is fast approaching.

Litecoin (LTC) Price

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  • Litecoin price is currently trading between the 50-day and the 200-day MA levels which are offering pivotal resistance and support 
  • The LTC price for the past week is holding the 50-day MA levels as strong support. Woefully, the levels may be rejected in the next couple of hours 
  • However, a significant influx of volume is expected to flood in the next couple of hours, which could uplift the price and also enable the price to rise close to the 200-day MA levels, clearing the crucial resistance at $70
  • Once these levels are achieved, the asset may regain the 3-digit levels by the end of 2022

Cardano (ADA) Price

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  • Cardano price regretfully is trending within a descending triangle and heading strongly towards the apex
  • However, the current bearish trend is expected to drop the price to the lower support and eventually compel the price to slice down the lower support and hit the last point of defence at $0.3
  • This is when the ADA price may absorb a huge bullish momentum that may ignite a firm rebound from the lower support back above $0.4 
  • However, the asset may further maintain a significant uptrend above $0.5 in the next 30 to 45 days

Polygon (MATIC) Price

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  • Amongst all MATIC price appears to be quite bullish as the asset is swinging within an ascending parallel channel
  • Polygon witnessed a rejection after testing the upper resistance close to $1, which was fueled in the last working day that dropped the price by more than 12%
  • Continuing with a bearish trend, the price is also expected to drop by another 7% to 9% to hit the lower support of the channel, just below $0.7
  • Rebounding from these levels, the price may range close to $1 and after a brief consolidation may rise close to $1.1

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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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