Bitcoin price is trading within a range-bound for nearly a month and is also expected to close the weekly trade within the same levels. In such a case, popular altcoins may also swing within their respective ranges for some more time. Some of the altcoins currently are displaying a significant momentum that may rise towards the ATH.
Chainlink price, after ranging within an ascending triangle since the recent market crash, failed to break above the resistance and maintained its consolidation within the same levels. However, as the platform announced its roadmap, the prices were impacted massively surged by nearly 40% since the beginning of June’s trade.
Currently, the LINK price is heading strongly towards $10 and may secure levels above $15 by the end of the month. After surpassing the crucial resistance, the LINK price may get a strong base to accomplish the next price action. On the other hand, with the launch of staking, Chainlink may get the required boost to rise towards its ATH.
Polygon price after a deep dive towards the south from the levels above $2 since the beginning of 2022, is heavily consolidating within very narrow ranges. However, the asset is still distinct from the crucial resistance that makes the upcoming rally pretty unclear. Yet the asset is gaining the lost momentum slowly as the whales are accumulating MATIC for the past a fortnight.
Therefore, the bullish quarterly close above $1 or $1.2 may ignite a strong rally towards the north. The crucial resistance to the test lies around $1.7 which could unlock the possibilities of ranging beyond $2. At these levels, a new ATH may not be too far off. A gigantic bull rally may uplift to price beyond the mentioned levels, which may begin once the market sentiments go positive.
Elrond’s price had manifested significant strength after flipping from the bottoms, a couple of times. Since the beginning of April, the price consolidated within a huge descending trend without allowing the asset to attempt a rebound. Presently, the EGLD price is testing one of the crucial support levels from which a strong flip is expected similar to the previous one.
The asset has rebounded well each time it bottomed hard as the lower support at $60 was maintained strong. And hence with a flip, the asset may regain the lost positions above the 3-digit figure first. Later securing the levels above $250 could ignite a rally towards the ATH above $500 very soon.
The SandBox (SAND)
The SandBox price along with the Decentraland price led to the NFT boom in the second half of 2021. Ever since the NFTs dropped hard, the assets lost their grip over the bull rally which was later fueled by multiple rejections since the beginning of 2022. Currently, the asset has lost more than 85% since the highs and consolidates healthily within narrow regions.
The asset is holding strong above $1.2 levels amid the bearish range, trading still higher above the last point of defence, keeping the hope of a rebound alive. The asset may soon range high to test and clear $2.5 levels and once secured the crucial levels at $3.3, a strong upswing may be ignited towards the ATH
Along with Chainlink (LINK), Polygon (MATIC), Elrond (EGLD), The SandBox(SAND) many other altcoins like Polkadot (DOT), Axie Infinity (AXS), etc and more possess a similar trend. However, it still cannot be predicted whether the assets would form a new ATH in 2022 or not as markets have not yet flashed signs of a bull run.