Ever since UST’s D-Peg led to massive BTC liquidations, wrecking crypto markets, altcoins were exposed to severe downside volatility. There were some of them who managed to maintain the trembling conditions and further ignited with a strong flip. Therefore, altcoins like Fantom (FTM), Polygon (MATIC) and Zilliqa (ZIL) are expected to rise above odds.
The price of Phantom continued to fall after rejection in the first few days of April which was driven by the recent market crash. However, the asset stopped the descending trend for some time and for the past few days, it has been attempting a remarkable rally. Therefore, analysts believe that a break above the $0.36 to $0.38 level could lead the asset to the $0.45 level immediately.
After the recent flip from a bearish trend, ZIL price has been consistently hovering within a parallel channel. And so after the current rejection at $0.055, the price will have to hold on to $0.049, even if it drops. Therefore, it could lead to a strong bullish trend which is higher from $0.0622 to $0.0067 . can open the door to the level
MATIC price also showed a similar trend after a recent decline from a very close monthly high near $1. Currently, the price is hovering just below $0.65 and in case of a decline, the lower support level of $0.6 needs to remain strong. If fails, a lower support tested before near $0.5 could be imminent. However, the recent volatility increased the chances of the asset towards the $0.7 resistance area. And a strong resistance at $0.806 could be imminent once these levels are cleared.
Overall, the altcoins are currently holding some bullish momentum, which could see them bounce off support levels for a short period of time. However, it should also be noted that these bounces can also result in a bull trap as the market conditions are quite volatile and are expected to fall. Hence, the upcoming weekend could turn the tables for the crypto space and only prevent them from ending for a short time.