Altcoins are thriving! Altcoins that saw massive gains during the 2021 bull run have started to rally again, signaling the return of professional traders. After a spectacular rally, Bitcoin prices have started to stagnate a bit. This has helped other altcoins rally, posting huge gains. For example, XRP & ADA prices have skyrocketed to over $1 after remaining below $0.4 to $0.5 for quite some time. Likewise, here are some other tokens that could hit the $1 mark in a short time from now.
Polygon (MATIC)
MATIC monthly price chart shows price is about to have a strong rally, which could start a 40% rally
The Ichimoku Cloud's conversion and baseline are about to confirm a bullish crossover, which could further flip the cloud to the upside
Besides, monthly RSI is bullish and may reach the neckline of the parabolic curve at the upper level.
Therefore, Polygon price is expected to break the resistance at $0.75 any time from now and reach $1 before the end of 2024
The Sandbox (SAND)
SAND price has broken out of a multi-year descending wedge pattern and is accumulating strength for the next rally
Buying volume has decreased after a strong rally but sellers are only restraining below the resistance zone between $0.79 and $0.88 while failing to push the price lower.
Besides, the bullish rally continues to remain in the accumulation phase, as suggested when the indicator just triggered a bullish divergence.
Second, +Di shows bearish divergence but no concrete movement is seen with -Di while ADX remains high. This suggests that price is preparing for the next rally beyond $1.
Decentraland (MANA)
MANA price is testing one of the important resistance levels in the range of $0.74 to $0.81, which is also colliding with the 200-day MA.
This range also collides with the neckline of the Adam and Eve chart pattern, which consists of a V-shaped recovery followed by a parabolic curve.
Besides, RSI is about to return to overbought territory, which could lead to a minor pullback.
Therefore, MANA price could rise above $1.1 and face a pullback to this zone, followed by a healthy increase towards higher targets.
Algorand (ALGO)
Algorand price has reached levels not seen since November 2022 and therefore the token is expected to remain high as the buying volume has increased dramatically
Besides, RSI has entered the overbought zone and shows no signs of deviation, but after some point, these levels face rejection.
Therefore, the price is expected to reach $0.82, which could attract some bearish action but the current support zone between $0.39 and $0.45 or slightly higher could provide the basis to trigger a strong recovery.
With this, the price could remain high and reach the $1 mark; meanwhile, if the resistance at $0.66 holds, the bearish sentiment could disappear.
Apart from these tokens, two altcoins that are very close to reclaiming $1 are Mantle (MNT) and Ethena (ENA). However, the bears seem to have caught the bull run and therefore they may take some more time before marking the next bullish move towards $1.
