- MATIC, LTC and SOL all escaped medium-term negative trends over the past 2 weeks.
- A bullish chart pattern had formed on LTC’s daily chart, which suggested that it may break above a key resistance soon.
- MATIC’s price could continue to rise this week after it broke above a medium-term negative trend line.
As the week comes to an end, traders and investors may seek to identify potential trade opportunities in the coming 7 days. Three cryptocurrencies that could generate gains for traders are Litecoin (LTC), Solana (SOL) and Polygon (MATIC). These altcoins were all able to escape medium-term negative trends, opening up the possibility of continued increases in their prices.
Litecoin (LTC)
A bullish chart pattern had formed on LTC’s daily chart over the past 2 weeks. Subsequently, the altcoin’s price may breach a key resistance level through the course of the coming week.
An ascending triangle had formed on LTC’s daily chart after the altcoin’s price printed higher lows over the past 2 weeks. If this bullish pattern is validated, then LTC could break above the base of the chart pattern at $68.95 . Thereafter, a daily candle close above this threshold could pave a way for the cryptocurrency’s value to continue to rise to the next level at $81.50.
On the other hand, if the bullish pattern is not validated, then LTC’s price could soon retest the immediate support level at $62.80 in the coming week. Continued sell pressure may even force the altcoin’s price down to the subsequent mark at $57.40.
Solana (SOL)
A noteworthy bearish technical flag may trigger on SOL’s daily chart in the next few days. This could lead to the Ethereum-killer’s price breaking outside of the consolidation channel it has been trading in over the past few days.
At press time, the daily RSI line was closing in on the daily RSI SMA line. This suggests that buyers may be losing strength after they were able to boost SOL’s price to above the $22.20 barrier last week. Since then, the altcoin’s price had consolidated between $22.20 and $25.55.
Should the daily RSI line cross below the RSi SMA line, then it may fall back below the $22.20 mark. Thereafter, the cryptocurrency could be at risk of dropping to the next crucial support level at $19.35 in the following 7 days.
On the other hand, if buyers identify SOL’s current price as a buy opportunity, then it may attempt to challenge the $25.55 threshold. Thereafter, continued buy pressure could elevate the cryptocurrency’s price to as high as $29.30.
Polygon (MATIC)
MATIC was able to break out of a medium-term negative trend throughout the last 2 weeks. Subsequently, the altcoin’s price may continue to rise in the next few days.
MATIC escaped a dominant negative trend on 28 September 2023. This propelled the cryptocurrency’s value to above the $0.5500 resistance level, where it continued to trade at press time.
Should this bullish momentum continue, MATIC’s price could rise to the next barrier at $0.6500 in the coming week. Conversely, if MATIC closes a daily candle below the $0.5500 mark, then it may trigger a wave of panic selling – leading to MATIC falling to $0.4970 in the coming week.
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