XRP, MATIC & ADA price is expected to maintain a substantial uptrend since the start of the fresh weekly trade
Yet the bears could jump in action anytime to extract profits, but it could be a short-lived correction
XRP Price Feared To Hit $1 Again
XRP price broke the probable ‘W-shape’ pattern, neckline being at $1.11 and ranged high to clear the upper resistance at $1.17. However, the price experienced a pullback as it attempted to range above $1.2. Despite the selling price appears to be mounting, yet the price remains above $1.
The XRP price is attempting very hard to ease the selling pressure as the RSI and MACD also point out a bullish divergence. Also, the price is hovering in between the 200-day MA and 50-day MA, as the price is still attempting to reach the resistance levels. The current daily close and the weekly close need to be somewhere close to $1.2 to kick-start an uptrend.
Polygon(MATIC) Price In A Crucial Phase
MATIC price gained an immense user base including some big personalities with a gigantic rally. However, in recent times, the price appears to move step by step as it is struggling to hit $1.5. The Polygon price was rejected each time it smashed these levels and hence the bulls are appearing to be weak.
The price is currently on the verge of testing the 50-day MA at $1.44 with fresh selling happening on the platform. A substantial bounce from these levels is the need of the hour in order to keep the uptrend intact. However, the possibility of a massive leg up appears to be low as the bulls still are pretty weak. And hence the fear of plunging down the support levels at 50-day MA haunts the rally.
Cardano(ADA) Price To Test Higher Levels
Cardano price was rejected a couple of times as it headed towards the $3 milestone. After a notable surge above $2.8, the ADA price was initiated a healthy consolidation. However, the bulls are trying very hard to ease the bear’s momentum. And hence the upcoming weak could mark new highs for the asset.
The trading volume appears to have dumped a little but is in place for a healthy uptrend. As Coinpedia reported earlier that Cardano price is primed to hit $3.5 very soon, the current consolidation could trigger the rally.