- Litecoin, Solana, and Polygon are potential trading prospects for the upcoming week.
- Litecoin’s value could break through a significant resistance level next week.
- Solana’s price might break out of its consolidation channel soon.
As the trading week concludes, market participants may look to pinpoint prospective trading prospects for the ensuing week. Litecoin
Litecoin (LTC)
Over the previous two weeks, a positive chart pattern has emerged on LTC’s daily chart. As a result, the altcoin’s value could break through a significant resistance level in the upcoming week.
Over the past two weeks, LTC’s daily chart has shown an ascending triangle, indicating higher altcoin price lows. If this positive trend is confirmed, LTC can surpass the chart pattern’s base at $68.95. Following this, a daily candle closing above this level could set the stage for the cryptocurrency’s value to increase to the next target of $81.50.
Conversely, if the positive trend is not confirmed, LTC’s value may revisit the immediate support threshold of $62.80 the following week. Persistent selling pressure could drive the altcoin’s value to the next benchmark at $57.40.
Solana (SOL)
A significant bearish technical flag could activate on SOL’s daily chart in the upcoming days. This might result in the price of the Ethereum competitor breaking out of the consolidation channel in which it has been fluctuating for the past several days.
As of the latest update, the daily RSI line was nearing the daily RSI SMA line, indicating a potential weakening of buyer momentum after successfully driving the price of SOL above the $22.20 threshold last week. Following this, the altcoin’s price has been stable, fluctuating between $22.20 and $25.55.
If the daily RSI line dips beneath the RSI SMA line, it could drop below the $22.20 threshold. Following this, the cryptocurrency might face the danger of descending to the subsequent critical support level of $19.35 within the next week.
Conversely, if investors perceive the present price of SOL as a potential buying point, it could strive to reach the $25.55 mark. Following this, sustained purchasing momentum may drive the cryptocurrency’s price to a maximum of $29.30.
Polygon (MATIC)
Over the past two weeks, MATIC has successfully reversed a mid-term bearish trend. As a result, we anticipate a potential increase in the altcoin’s value in the upcoming days.
On 28 September 2023, MATIC broke free from a prevailing bearish trend. This increased the cryptocurrency’s value, pushing it beyond the resistance level of $0.5500, which remained at the time of reporting.
If the current positive trend persists, we could see MATIC’s value reaching the next resistance level at $0.6500 within the next week. On the other hand, should MATIC end a day’s trading below the $0.5500 threshold, it could initiate a surge of panic selling, resulting in MATIC’s price dropping to $0.4970 the following week.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
