This altcoin could join Bitcoin and Ethereum in the top 10 in the upcoming bull market.
The cryptocurrency market is preparing for new price action as the atmosphere shifts to favor the bulls. After a long wait, Bitcoin price finally broke the $40,000 barrier for the first time since May 2022. Prices have recovered from pre-Terra levels and appear to be rising despite all the negatives. So the rally that is expected to begin could end up shattering all previous records.
The rise in BTC price signals the start of a potential bullish trend. However, Bitcoin is expected to lead the rally and become a trillion-dollar asset. Meanwhile, these altcoins are believed to regain their positions in the top 10.
Chainlink (LINK)
- Chainlink price is trading within a parallel channel rising after the price crossed double digits.
- Volumes have increased to some decent levels, which could sustain the bullish momentum over the next few days.
- A rise above $16 could confirm a breakout of the upward consolidation and trigger a strong uptrend to reach the next resistance at $18.
- LINK price has shown tremendous strength recently. However, to start a good rally, we may see some decline soon as the DMI is uncertain.
Polygon (MATIC)
- There are altcoins that have recently shown aggressive behavior with massive liquidity inflows.
- Consecutive bullish candles indicate accumulated buying pressure that can maintain bullish momentum.
- MATIC price is slowly expanding towards resistance. It never went above about $0.96. However, prices may spend more time than expected as the bears now appear to have given up on the rally.
- The current trading setup suggests that the price may break above the consolidation or briefly break the level, triggering a subtle rally above $1 in the first few days of 2024.
Avalanche (AVAX)
- AVAX price has shown ample strength, consolidating tightly within the resistance zone for nearly four weeks.
- Despite the lower volume, bulls appear to be keeping a tight grip on the rally, which could lead to a notable rally coupled with fresh liquidity inflows.
- The price is currently trading above $22 and could soon reach $25, which could form a strong base to reach the important resistance of $30.
- Beyond these levels, the price could trigger a healthy rally to higher levels that could pave the way for it to enter the top 10 cryptocurrency rankings.