Bitcoin price has been trading within a range for almost a month and is also expected to close weekly trading within the same level. In such a case, popular altcoins may also swing within their respective ranges for some more time. Some altcoins are currently showing a significant momentum towards ATH.
Chainlink (Link)
After being inside an ascending triangle since the recent market crash, Chainlink price failed to break above resistance and maintained its consolidation within the same level. However, as soon as the platform announced its roadmap, the price has seen a massive increase of around 40% since the start of June trading.
Currently, LINK price is trending strongly towards $10 and it can secure the levels above $15 towards the end of the month. After crossing the critical resistance, LINK price may find a strong base to complete the next price action. On the other hand, with the launch of staking, Chainlink may get the needed boost to move towards its ATH.
Polygon (MATIC)
Polygon price is consolidating heavily within a very narrow range, after taking a deep dive south from the level above $2 since the beginning of 2022. However, the asset is still trading off significant resistance which makes the upcoming rally very unclear. Yet the asset is slowly gaining lost momentum as whales have been accumulating MATIC for the past fortnight.
Therefore, a quarterly bullish move above $1 or $1.2 could ignite a strong rally towards the north. A key resistance to test is near the $1.7 level which could unlock a higher potential above $2. At these levels, a new ATH may not be too far away. A huge bull rally could extend to the price above the mentioned levels, which could start once the market sentiment turns positive.
Elrond (EGLD)
Elrond price showed significant strength after flipping from the bottoms a couple of times. Since the beginning of April, the price has consolidated within a huge descending trendline without allowing the asset to attempt a rally. Currently, EGLD price is testing one of the important support levels, expecting a strong flip similar to the previous one.
The asset has bounced well every time it held strong against the lower support at $60. And so with a flip, the asset can recover the lost position above the first 3 digit figure. A subsequent recovery of the $250 level could result in a rally towards ATH above $500 very soon.
sandbox (sand)
The price of Sandbox along with the price of Decentraland led the NFT boom in the second half of 2021. Ever since the massive drop in NFTs, the asset has lost its grip on the bull rally which was later fueled by several rejections since the beginning of 2022. Currently, the asset has lost over 85% since the highs and appears to be consolidating healthy within narrow areas.
The asset remains strong above the $1.2 level amid bearish range, still trading above the defense’s end point, keeping hopes of a rally alive. The asset may soon test higher to clear the $2.5 level and once the crucial level is secured at $3.3, a strong bounce towards ATH could be ignited
Chainlink (LINK), Polygon (MATIC), Elrond (EGLD), The SandBox (SAND) as well as many other altcoins such as Polkadot (DOT), Axie Infinity (AXS), etc. and more have a similar trend. However, it still cannot be predicted whether the asset will create a new ATH in 2022 as the market is yet to show bullish signs.
