During a week characterized by a plethora of enticing news, the cryptocurrency market experienced significant volatility, with Bitcoin’s price persistently oscillating around the $30K mark. The recent rally in Bitcoin has resulted in reestablishing its 50% market dominance. Consequently, investors have shifted their attention to other digital assets that may potentially participate in this rally. The altcoin market is projected to align with this bullish trend and experience a surge in the forthcoming days, capitalizing on the momentum generated by Bitcoin.
Must-Have Altcoins Before Next Week’s Rally
The last week was a really good one for the crypto market as it surpassed the $1.2 trillion market cap, and major coins registered massive gains. Bitcoin price is up by 16% in the last 7 days, and prominent altcoins made impressive gains over the last week. While memecoins like PEPE dominated, investors are now looking for the next altcoins that may explode, and among these, Polygon (MATIC), Litecoin (LTC), and Ripple (XRP) are three altcoins that are poised to surge past resistance in the coming week.
Polygon (MATIC) Price Analysis
MATIC price witnessed a remarkable surge after witnessing a sharp decline. In the last 7 days, MATIC’s price gained over 10%, attracting whale investors near its current dip. As of writing, Polygon trades at $0.677, declining over 0.26% in the last 24 hours.
Polygon’s MATIC is experiencing a surge above the critical level of $0.69; however, it continues to face strong resistance from bears.
If the bulls manage to drive the price above $0.69 and maintain it, we could see a more robust recovery towards the 50-day EMA at $0.78 next week. This level might pose another challenge, but if overcome, the MATIC price could skyrocket to $1.
Litecoin (LTC) Price Analysis
As Litecoin halving approaches, its price experiences a massive upward surge, registering an uptick of over 16% over the last week. Currently, the LTC price trades at $89.67, declining over 2.5% from yesterday’s rate.
Buyers intensified their buying pressure after the LTC price broke above $78, forcing sellers to liquidate their short positions. The 20-day EMA at $84 has begun to rise, and the RSI has shifted into the positive zone, suggesting that the bulls are taking control. There’s a minor resistance at $92, but if this is surpassed, the LTC price pair could skyrocket towards the crucial level of $103.
However, for next week’s trend, the LTC price is predicted to test the 100-day-EMA line before a bullish reversal.
Ripple (XRP) Price Analysis
The price of XRP is currently confined within a range below $0.5, as the final outcome of the ongoing SEC lawsuit is yet to be determined. However, XRP’s recovery gained traction, with the bulls propelling the price above the 20-day EMA at $0.45.
The extended wick on the day’s candlestick indicates that the bears are not ready to concede easily. If the XRP price breaks above $0.53, it may validate a smooth uptrend next week.