The post Altcoins are Gaining Extreme Strength: Here are the Top 3 100x Gems Which are Ready to Explode appeared first on Coinpedia Fintech News
Chainlink (LINK) Price Analysis
The Chainlink price rebounded from the ascending support after remaining struck for over a while. With this, the bulls appear to have become active as the buying pressure has begun to mount. After a massive rise in the last week, the price remains consolidated within a range. Does this suggest the Bears are about to take over the rally?
The weekly chart of LINK price suggests the bears are trying hard to gain control over the rally. The Gaussian channel has turned bearish while the 50/200 day MA is again trying for a bullish crossover after a failed attempt a few weeks before. However, the RSI remains elevated while the OBV levels undergo a small rise, suggesting the traders are bullish on LINK. Moreover, the trade setup suggests the next weekly candle could be a strong bullish one, incurring more than 30% gains and reaching 1 FIB at yearly highs close to $25.
Arbitrum (ARB) Price Analysis
Arbitrum had a bearish beginning to its trading journey after hitting the highs; however, the token further raised to mark a new ATH at $2.4. Meanwhile, the token faced a massive pullback, marking the bottom, followed by a healthy rebound after a brief consolidation. Currently, the ARB price is in the middle of a fine ascending trend, with the upper targets at around $1.22.
As seen in the above chart, the ARB price is testing the trend reversal zone just below $1 for the past few days. Unfortunately, the bears have held the range, which suggests yet another pullback could be fast approaching. Besides, the drop in buying volume suggests the MACD may undergo a bearish crossover, which substantiates the bearish claim. Therefore, the ARB price may head back to $0.92, followed by a rebound above $1 and reaching the upper resistance zone around $1.22 before the end of 2024.
Polygon (MATIC) Price Analysis
Polygon or POL price has maintained a healthy ascending trend since the start of the month with a massive growth in buying volume. Moreover, the price has entered a crucial range, clearing which could revive a strong rise towards the higher targets. The technicals are in bullish favor, and hence, the price is believed to rise and reach the pivotal resistance soon.
After a massive descending trend, the MATIC price has begun to rise, aiming to reach the crucial resistance. Meanwhile, the Gaussian channel turned bullish after remaining bearish for over 6 months. This suggests the price is expected to remain elevated as the 200-day MA is offering strong support to the price. Therefore, the price appears to be primed to rise and reach the important range, which is also the trend reversal level around $0.8 before the end of 2024.