December 7, 2022

Ethereum Reader

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Great Things Could Be Expected for MATIC, AVAX, BNB, and LINK

Great Things Could Be Expected for MATIC, AVAX, BNB, and LINK
<img width="300" height="169" src="https://ethereumreader.com/wp-content/uploads/2022/07/great-things-could-be-expected-for-matic-avax-bnb-and-link.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="altcoin" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" link_thumbnail="" srcset="https://ethereumreader.com/wp-content/uploads/2022/07/great-things-could-be-expected-for-matic-avax-bnb-and-link.jpg 300w, https://coinquora.com/wp-content/uploads/2022/07/altcoin.jpg 730w" sizes="(max-width: 300px) 100vw, 300px" />Polygon (MATIC) bounced off its crucial support levels and saw a price surge of 38%. A rebound could push the ...<p class="d-none"><a class="btn btn-primary btn-sm understrap-read-more-link" href="https://coinquora.com/great-things-could-be-expected-for-matic-avax-bnb-and-link/">Read More...</a></p>

altcoin

    • Polygon (MATIC) bounced off its crucial support levels and saw a price surge of 38%.
    • A rebound could push the price of AVAX to $22 very soon.
    • In the coming days, BNB could soar to as high as $250.

Polygon (MATIC) bounced off its crucial support levels and saw a price surge of 38% from the bottom at $0.53. MATIC also experienced some rejection at $0.733 over the last few hours. However, the bulls seem to have gathered their strength — meaning the MATIC price could surpass this level soon.

The price of the crypto is now expected to consolidate within the support and resistance levels for the next two days. This price could drop to $0.51 and $0.54 if the bears gain some strength. However, a rebound from this could cause a bullish move above $0.8.

MATIC Network/TetherUS 1D (Source: CoinMarketCap)
MATIC Network/TetherUS 1D (Source: CoinMarketCap)

Avalanche (AVAX) is trading in a symmetrical triangle as the price tried to break through the top resistance but failed. Unfortunately, the current price for AVAX is under bearish pressure, which could lead the price to close at $17.94.

This upcoming bearish wave could be the last for the altcoin and a rebound could push the price of AVAX to $22 very soon.

AVAX/TetherUS 1D (Source: CoinMarketCap)
AVAX/TetherUS 1D (Source: CoinMarketCap)

Binance Coin (BNB) has been stuck trading in a parallel channel for almost a month now. This means that BNB is respecting the upper as well as the lower resistance and support levels at the moment.

The BNB price is expected to continue this trend before testing the support at $200. A rebound is expected at this point, but a failure to do so could lead to BNB testing the support at $216. In the coming days, BNB could soar to a high as $250.

Binance Coin/TetherUS 1D (Source: CoinMarketCap)
Binance Coin/TetherUS 1D (Source: CoinMarketCap)

Chainlink’s (LINK) price has been experiencing a huge drain as it lost its crucial levels at $7.35. This means the current price for LINK looks a bit bearish, but a rebound can be expected.

If the price further drains, it could drop to the lower support to initiate a rebound to prices as high as $7.

ChainLink/TetherUS 1D (Source: CoinMarketCap).
ChainLink/TetherUS 1D (Source: CoinMarketCap).

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

Source: coinquora.com