Top Mid-Cap Altcoins About to Explode After a Three-Months-Downtrend: Here are the Year-End Targets
The post Top Mid-Cap Altcoins About to Explode After a Three-Months-Downtrend: Here are the Year-End Targets appeared first on Coinpedia Fintech News
The crypto markets are withstanding the winters, which are usually recorded in this month each year. Large price variations are seen with the popular tokens, which have impacted the majority of the markets. However, some of the mid-cap altcoins continue to hold within an accumulation zone, hinting towards a breakout in the coming days.
Near Protocol (NEAR)Near Protocol has been trading within a decisive pattern that keeps both the bullish and the bearish hopes alive. Although the latest pullback dragged the levels below the range, the bulls have managed to elevate the levels, suggesting the revival of a decent ascending trend.
The NEAR price has regained levels within the triangle and despite decent selling pressure, the rally is believed to reclaim the resistance around $4.5. The MACD has undergone a bullish crossover but has yet to validate the move. Therefore, after a brief consolidation, the price is believed to maintain an ascending consolidation and reach the apex, which may further trigger a breakout above $6.
Litecoin (LTC)The Litecoin price is approaching the edge of the descending consolidation but within a bullish pattern. The recent rejection from the resistance is about to trigger a strong rebound as the technicals have jumped in favour of the token. The LTC price has reached the lower bands of Bollinger, which are going parallel with the upper bands.
This suggests a drop in volatility, which may further be subjected to a squeeze. Besides, the MACD remains within the negative range, heading for a bullish breakout. Therefore, after a brief consolidation, the Litecoin price appears to be poised to breach above the falling wedge and enter the resistance zone between $66 and $67. However, with the beginning of the last quarter, market dynamics are expected to change, which may push the price beyond $75.
Injective (INJ)The Injective price is also trading within a falling wedge, similar to that of Litecoin. While the difference lies in that the INJ price has already broken from the range. However, the previous attempt resulted in a fakeout, and hence a rise above the interim resistance zone may eliminate the possibility of a bearish pullback.
Observing the RSI suggests the levels trading within a decisive symmetrical triangle, which usually attracts bullish volume. As the RSI continues to accumulate, the price is also believed to consolidate just above the support zone between $18.23 and $18.76. However, a rise to $30 appears imminent in Q4 after surpassing the resistance zone between $28.05 and $28.90.
Chainlink (LINK)The Chainlink price had formed a head-and-shoulder pattern and was about to break down from the neckline just below $10. However, the bulls managed to hold the rally and trigger a fine rebound. Although they failed to rise above the crucial range, the token continues to display huge potential for a bullish breakout to $15.
As seen in the above chart, the price rebounded from the support zone, and a validation of a bullish upswing could certify the formation of a double-bottom pattern. The MACD is slowly turning in favour of the bulls and could even rise within the positive range, hence substantiating the bullish claim. Therefore, the LINK price appears to be poised to surge and reach $15 soon after the end of the crypto winter.