Amidst a broader momentum surge in the cryptocurrency market, Polygon (MATIC) and Chainlink (LINK) have seen a decline, with prices down by 4.24% and 6.29%, respectively. Presently, Polygon is trading at $0.98, while Chainlink hovers around $15.79. However, as these altcoins experience corrections, several other projects, including Bitcoin Minetrix, Kaspa, and Bonk, continue to display upward trajectories over the last 24 hours.
Optimism Prevails Despite Corrections
Traders are maintaining a bullish outlook, anticipating swift recoveries for Polygon and Chainlink in the forthcoming days. Analyst Michael van de Poppe, in a recent tweet, suggested a potential push for Polygon’s price to reach $1.3. He highlighted that MATIC might be trailing behind SOL and AVAX but is gathering momentum, indicating resilience despite the pullback.
ZAYK Charts has also expressed significant optimism for Polygon, envisioning a price surge to $8.5 in the upcoming months. The analyst referenced the token’s breakout as per the weekly timeframe chart, identifying a bull flag formation that signifies the coin’s upward trajectory.
Pentosh1 shares a mid-term bullish perspective for Polygon, foreseeing a potential rise to $1.7. Switching to Chainlink, analysts like Top Marine and Jake Wujastyk have acknowledged the recent downtrend. However, both see a possible reversal in the offing, with strong indications of robust support levels and upside targets at $30.
Altcoins on the Move
While Polygon and Chainlink face retracements, other cryptocurrencies are forging ahead, including Bitcoin Minetrix, Kaspa, and Bonk, exhibiting promising developments.
Bitcoin Minetrix is an innovative protocol enabling cloud mining of Bitcoin from Ethereum. Its ongoing presale has raised over $6.6 million, signaling significant interest. Analysts anticipate a potential rally upon listing, with the token currently trading at $0.0125 during the presale phase.
Kaspa, known for its high scalability and smart contract functionalities, has shown resilience despite encountering resistance at $0.15. Analyst Cryptokin7 sees potential for a retest of the previous all-time high after breaking a trendline resistance.
Bonk, a meme coin on Solana, experienced substantial growth in 2022 and surged by 253% after listings on Coinbase and Binance in December. While it has retraced by 50% from its peaks, analysts like Zer0 suggest a potential support zone around its current price level, emphasizing the importance of the $0.000015 threshold for validating the ongoing bullish thesis.
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