The crypto market is currently heating up, with investors and traders on the hunt for the next big thing. After Bitcoin and Ethereum yielded massive gains over the past week, traders are now turning their attention to the search for the next altcoins, which have the potential to explode in the coming week. As the altcoin market is yet to gain its maximum potential, many investors are getting into dominating altcoins to enjoy the upcoming bull run.
Altcoin’s Bullish Season is Around the Corner
Since November 2022, Bitcoin’s market capitalization has surged by approximately 80%, reaching the impressive $28,000 mark. However, even with this Bitcoin price pump, many altcoins are still down by as much as 90% from their all-time highs, which presents a prime opportunity for traders and investors to capitalize on in the coming weeks.
Binance Coin (BNB) Price Analysis
On March 23, BNB rebounded from the 20-day EMA ($316), but the ongoing struggle by the bulls to sustain the relief rally suggests the bears are seizing every opportunity to pounce on even minor recoveries.
The sellers will make an attempt to pull the price below the 20-day EMA, and if successful, BNB could experience a drop to $300 and potentially to the 200-day SMA ($289). However, it’s expected that the bulls will put up a strong defense in the area between the 200-day SMA and $265.
As of writing, BNB trades at $323, showing a minor uptrend in the last 24 hours. Analyzing the daily price chart, BNB has formed a triangle pattern, and a breakout above the pattern at $340 will push the coin to trade above $600 by next week.
Polygon (MATIC) Price Analysis
Since March 20, MATIC of Polygon has been trading below the 20-day EMA ($1.14), indicating that the bears are attempting to turn the 20-day EMA into a resistance level.
One small positive sign for the bulls is that despite the bearish pressure, the price has not fallen below the robust support area of $1.05 and the 200-day SMA ($0.96). This indicates that there is strong buying interest at lower price levels.
MATIC price is currently trading at $1.09, with a decline of nearly 2% from yesterday’s price. It is anticipated that MATIC price will make a huge breakout next week as the token will surge above EMA-50 and trade at $1.5.
XRP Price Analysis
XRP price continues to form back-to-back inside-day candlestick patterns, which suggests a state of uncertainty among both buyers and sellers. One small bullish sign is that over the last three days, the bulls have been able to protect the 200-day SMA ($0.40). This could imply that the 200-day SMA may now serve as a new support level next week.
XRP price hovers at $0.447, gaining over 4% in the last 24 hours. It is analyzed that the XRP price will experience a minor dip to $0.43 by tomorrow and then surge throughout the next week to a crucial resistance zone of $0.48-$0.49.
