We have seen BTC try to reach the all-time high price, and it just fell short of $20,000. We then saw a corrective move towards $16,000, which was expected.
Let us review some altcoins and see their price action.
DOT/USD – Price Prediction
Polkadot flipped the resistance at $4.54 to support, and we started seeing a move up towards the higher resistances 1 and 2. With BTC correcting, DOT price could drop back towards the support of $4.54, which would be a good area to long with $5.08 and $5.47 as the targets. Failure to hold the support at $4.54 could provide us a good opportunity to short DOT till $3.98 and $3.60
UNI/USD – Price Prediction
Uniswap is approaching the support zone of $3.18. If it can hold this support, it could bounce $3.50, $3.94, and $4.39. Failure to hold the support at $3.18 will result in a drop in UNI price towards $2.86 and $2.49, which will be a good place to add to longs.
ENJ/USD – Price Prediction
Enjin is approaching a strong support zone of the $0.1382 area. If it can hold this support, we could see a big move in ENJ price towards $0.1609 and $0.1824. Failure to hold the current support could lead to a price drop towards $0.1190, which would be a very good place to add to longs.
BNB/USD – Price Prediction
Binance Coin is approaching a strong support zone of $27.70 area. If we can hold this support, we will see a swing towards $29.96, $32.43, $36.88, and $42.71. Failure to hold the support of $27.70 will lead to a fall in BNB price towards $25.44, which will be a good place to long BNB with a stop loss below this last strong support.
CRO/USD – Price Prediction
Crypto.com Coin is currently trading close to a weak support zone of $0.06315. If it can stay above this support, there is quite a good upside to CRO with targets at $0.06936, $0.07725, $0.09734, and upon clearance of this resistance zone of $0.097, we can see a rapid move in CRO price towards $0.1451. However, if the current support breaks, this coin will drop in a free fall.
Images courtesy of TradingView.
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