The post After XRP & Cardano, These Altcoins are Primed to Hit $1 This Month appeared first on Coinpedia Fintech News
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.
