It is a usual practice nowadays that the cryptospace witnesses a significant pullback after a gigantic spike. And hence the current phase is just another exhaustion and an opportunity for the traders to get into the flight before the take-off. Despite the current descending trend, some of the altcoins have geared up significantly to ignite an Altseason 2022 very soon.
The second-largest crypto, Ethereum is the asset that sustains strongly amidst a shaky environment. And hence the ETH price stands strong above $3200 displaying immense strength in the rally that could uplift the price beyond $3500 very soon. However, the technicals showcase an extremely bullish trend is fast approaching and hence the current drop is just a short-lived one. Therefore, with the next leg up, the asset may be primed to attempt the test the higher target around $3625 slicing the important levels in between and this is when the Altseason 2022 may be ignited.
Cardano, which once had secured its position in the top 5, kept on declining towards the 10th position slowly. Currently, ADA price has secured levels above $1 after a tough brawl with the bears who kept it restricted below for almost a month. And hence with a significant leg up, the ADA price regain its position above $1 but woefully faced a rejection very close to $1.2. However, one can expect a firm rebound any time from now which may regain the levels above $1.5 initially. If sustain firmly, then $1.2 may be imminent slicing through $1.8 levels with ease.
The BinanceCoin price also witnessed a rejection on its way to $450, the third time since the beginning of 2022. The asset nullified the double-top pattern earlier and currently the double-bottom pattern too. However, a significant buying momentum is also building up that may assist the price to hit the immediate target of $439 initially. As it has been rejected multiple times, a breach through these levels may ignite a significant bullish trend sidelining the bears.
Solana’s price is currently appearing to be in a pretty strong position, despite the recent pullback. The asset sustains above $120, manifesting a huge possibility of attaining $150 by the weekend. However, it may experience a couple of pullbacks in between, but the price rally appears to be imminent.
Terra’s (LUNA) price recently marked new highs above $110 surpassing the crucial resistance at $101.45. Currently, the asset is testing this resistance flipped to support levels with a mounted buying volume. And hence it appears that the price may make it out of the trembled situation and sustain above $100 strongly. Therefore, discovering new highs may be imminent for the asset until the weekend.