Altcoins are currently facing a tough time as compared to bitcoin as many of them have suffered huge losses. Moreover, if BTC price continues to consolidate just below the weak resistance, $30,000, the altcoin could be forced to lose significant gains in the times to come. Yet with a small fluctuation, some assets like Avalanche (AVAX), Polygon (MATIC), and Near Protocol (NEAR) can recover very quickly.
Near Protocol (Near) Value
With the new crash knocking within the crypto space, the price of the near protocol is expected to drop another 10% in the coming days. The asset has been extremely bearish since the start of June trading, while several attempts to flip from a descending trendline have also failed. However, whenever the market sentiment is somewhat bullish, there is a huge jump in the price of NEAR.
A fresh slash since trading hours pulled the price below local support. Fortunately, the asset is making gains just below the support levels but is still in bear captivity. The formation of a bearish flag could push the price down by as much as 7% to 8%. Therefore, the support below $5 can be tested only if it fails to sustain the $5 level. Nevertheless, the ensuing flip from the lows could propel the price above $6.5 in the next 2 to 3 days.
Polygon (MATIC) value
It appears that the price of Polygon (MATIC) has ignited a fresh decline in the price as the parallel consolidation is broken. The price tested and rebounded from the initial support of $0.58 and in an attempt to move towards $0.6, the asset experienced a fresh decline. Currently, MATIC price is moving strongly towards lower support.
Ever since the market tumbled in the first week of May, many assets have failed to regain their lost positions. And MATIC price being one of the stronger assets kept hovering above $0.5, refusing to drop below. Currently, the price is testing the interim support level at $0.588 and a breakout from these levels could pull the price towards the lower key support level of $0.52. Although the price seems more likely to move higher from local support, upper resistance is likely to be capped at around $0.75.
Avalanche (AVAX) Price
Unlike the other 2 assets mentioned above, AVAX price is in a deep soup as the fresh market decline has driven the price down significantly. The asset is currently trading in a bearish trend line as the price is moving strongly towards the south. A flip from the current levels is much needed, otherwise the asset may continue to test lower support in the coming days.
AVAX price broke lower support in recent days and bulls jumped sharply to prevent the asset from shorting further gains. Therefore, the chances of the asset rallying from the lower trend line are very high, leading the price above $25. However, fears of rejection may still loom over the rally, but the asset may not decline below these levels unless the lower support at $23 is strengthened.
