• The cryptocurrency market experienced significant volatility last week, with Bitcoin’s price persistently oscillating around the $30K mark.
• Investors have shifted their attention to other digital assets that may potentially participate in this rally, such as Polygon (MATIC), Litecoin (LTC) and Ripple (XRP).
• These altcoins are projected to align with the bullish trend and experience a surge in the upcoming days.
Cryptocurrency Market Experiences Volatility
The cryptocurrency market faced significant volatility last week as Bitcoin’s price remained at around $30K. This rally has resulted in reestablishing its 50% market dominance, thus prompting investors to look towards other digital assets that might join the upward trend.
Altcoins Gaining Momentum
As a result of this momentum generated by Bitcoin, altcoins are expected to surge past resistance in the coming week. Prominent coins like Polygon (MATIC), Litecoin (LTC) and Ripple (XRP) have all gained impressive gains over the last week and could continue to make further gains next week.
Polygon Price Analysis
Polygon witnessed a remarkable surge after witnessing a sharp decline. Currently, MATIC trades at $0.677, declining slightly over 0.26% in the past 24 hours but facing strong resistance from bears above the critical level of $0.69. If traders can successfully drive it above this mark and maintain it for some time, then we could see MATIC reach up to $1 next week.
Litecoin Price Analysis
With Litecoin halving approaching soon, its price has also experienced an upward surge of 16% over the last week and currently trades at $89.67; however, if bulls push it further then LTC may reach its 50-day EMA at around $100 or even higher than that in the coming days.
Ripple Price Analysis
XRP is another altcoin that is showing signs of potential growth soon; although it has not made any considerable gains yet, it is trading well above its 20-day EMA at around $0.50 which indicates that there is still room for growth if bulls manage to overcome bearish pressure near its current levels of about $0.60 and push XRP closer towards its 200-day EMA located at around $1 mark next week