As the market is moving upwards, the mid-week trading appears to be very fruitful for the crypto space. Bitcoin price has remained above $21,000 for quite some time, while Ethereum and altcoins are also following the same pattern indicating a change in market sentiment. Therefore, some popular altcoins such as BinanceCoin (BNB), Polygon (MATIC), Avalanche (AVAX) and Chainlink (LINK) are expected to jump into consolidation this week.
Polygon (MATIC) value
A potential long zone for MATIC price was hovering near $0.45 from where the asset had a minor rally. The recent price action proved to be with another bullish move as the price advanced from $0.45 to $0.58. Currently, the price is facing rejection from these levels and it may eventually reach the lower support level of $0.532 which is an important area to hold. Failure to do so, the price is expected to drop below $0.5, however, a rebound which is more likely, could push the price higher from $0.6 to $0.64 in the coming weeks.
Avalanche (AVAX) Price
Avalanche price showed a major bullish divergence above the downtrend line in conjunction with the recent price flip. However, the asset is facing a major hurdle at the 50-day MA levels which could prevent the AVAX price from moving higher. If the asset breaks out and moves higher, a minor bull run could propel the price towards the $38 to $40 level. If the asset secures a level above the 200-day moving average area, it could be followed by a relief rally to $50 for the rest of the year.
BinanceCoin (BNB) Price
BinanceCoin price flipped around $215 in this area and moved higher until it tested the $247 resistance area, providing some gains. The current chart clearly displays a clear set-up for a long jump and the current price action is showing a liquidity tap above recent highs. Therefore, one can expect a short-term trend reversal, which could turn southward. In this regard, the asset is likely to reach the first level of support at $235 and in the worst case it could even test the $225 to $228 area. Besides, a decent rally could initially retest the $230 area and later $260 could be inevitable.
Chainlink (LINK) Price
Chainlink price, being slightly diversified, is showing some weakness as it failed to sustain the recent market strength. Therefore, a dive into the $5.5 to $5.7 area seems imminent, beyond which the asset could retest the $6 position at the earliest.
Collectively, the altcoin is expected to have a significant bullish momentum despite the price action of Star Crypto. A significant increase is expected in BinanceCoin(BNB), Polygon(MATIC), Chainlink(LINK) and Avalanche (AVAX) in the coming days.