AVAX has shown a strong upward trend since October last year, reaching a high of $50 in December, and has since entered a period of correction.
I expect the price to consolidate in the current range for a while. The correction could go further down and AVAX could test the $25 range, which represents a 50% correction from the recent high. Currently, AVAX has hit a low of $27.30 and I expect the price to test the bottom again before the correction ends, followed by a period of consolidation.
There was a significant resistance level previously at $43.25.
This price adjustment provides a good opportunity to add positions, and a second round of increases is expected after the Bitcoin halving event.
For the bullish investors, if the price can break out and stabilize above $45, it will be a signal for further gains towards $47.40 and $50. If the price can stabilize above $50, it is expected to continue its strong rise without any pullback.
For bearish investors, if the price firmly breaks below the opening price of $38.57 at the beginning of the year, it may fall further to $36.30 and $34.20. Driven by the bearish momentum, the price is likely to continue to fall to $30.
For traders who are shorting, watch for a clear decline from the opening price of $38.57 at the beginning of the year. If this level is breached, the price is expected to drop further to $36.30 and $34.20. Given the strong momentum of the bearish trend, this support level is likely to be breached, leading to a move towards $30.
MATIC has had a very positive development in its price range, managing to maintain a solid uptrend towards higher highs. During its ascent, we have seen some nice price pullbacks.
Polygon also launched a major rebranding effort from MATIC to POL and announced several technological innovations for the project.
For investors who want to establish a long position, they should pay attention to whether the price of MATIC can break through the key level of $1.25. Once the breakthrough is achieved, it is expected to bring strong upward momentum, especially when MATIC challenges its previous resistance level, it may perform well. $1.28 and $1.36 are important prices to watch.
For bearish investors, a break below $1.15 will be a good opportunity to open a position. Suitable downside targets are $1.094 and $1.023.
Since LINK broke out of the $5.89 to $6.42 range, it has continued to show a strong upward trend, gradually setting new highs.
Last week's sharp pullback put the price well within the range of testing the previous high. Next we need to focus on the weekly close.
The launch of CCIP has boosted LINK’s rise. LINK has become stronger than ever before, and CCIP will enable LINK to be used on other blockchains, enhance its status as a better currency, and accelerate the development potential of Ethereum.
If you are looking to establish a long position, you can enter when the price breaks out of $21.25, with target prices at $22.30 and $24.60.
If you are considering establishing a short position, you can enter the market when the price falls below $19.10 and then pullback to the support level, with target prices at $18.20 and $17.40.
$SOL
SOL has formed a very structured trading range, which is quite ideal to trade. Currently, there is some resistance near $150, but the overall development of the range is still excellent.
If you are considering establishing a long position, watch out for SOL to break through $150 on a sustained basis. This move would signal further upward momentum, with the price of SOL expected to reach $158 and $172. A break above these price levels would open the way for SOL to create new highs.
For short positions this week, watch for a clear break below $135.70, which could pull prices back into the previous range, with target prices likely to fall between $125.70 and $119.50.
Overall, I think SOL is on the road to recovery, with on-chain data once again showing positive signs. We will have to wait and see how this quarter unfolds. An initial breakout will be crucial to point the way in the right direction for price.
$INJ
INJ has formed a good trading range while setting a new all-time high. It was one of the first cryptocurrencies to break out of the bear market and quickly set new highs in the last round of the market.
INJ has formed a trading range between $29.20 and $43.50. As this range continues to form, it will greatly facilitate our range-bound trading. In addition, we may be witnessing early signs of large-cap investors allocating positions, which will show up as a deviation from the highs.
To initiate a long position, watch for a breakout of INJ at $43.50. This move will easily lead us to the targets of $45.30 and $48.80.
To initiate a short position, watch for a clear decline to $38.70, which will signal a move towards the mid-range. Further declines will target the $37.30 and $35.80 levels.
