Top 3 Cryptocurrency Set to Explode in Rebound Rally

The first two weeks of June triggered a massive sell-off in the crypto market and brought a heavy discount in several major cryptocurrencies. Amid this downfall, the crypto coins plunged to their respective monthly support offering a great opportunity to buy the dip. In this article we have listed out some of the well-established altcoins interested traders can accumulate.

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XRP (XRP) Price Analysis: Pullback Opportunity

Source: Tradingview

With the recent correction phase, the XRP price plunged to the monthly low of $0.4558 and retested a long-coming support trendline. This trendline has been carrying a significant recovery over the past 100 days and offers occasional dip opportunities to buyers.

As of now, the XRP price is trading at $0.48 with an intraday loss of 2.7%. With sustained selling the price could revisit the aforementioned support trendline. This retest would likely recuperate the bullish momentum and trigger a bullish reversal.

The potential recovery could push the XRP price back to a multi-month barrier of $0.55.

Polygon(MATIC) Price Analysis: Coiling Before Explosive Move?

Source: Tradingview

The falling MATIC price has turned sideways after hitting the $0.52 support. Amid the growing uncertainty in the crypto market, the consolidation phase continues in a narrow price spread.

By the press time, the Polygon coin trades at $0.6 and witnesses demand pressure from the $0.52 support. If the bullish momentum persists, the buyers trigger a bullish reversal and challenge the falling trendline.

A bullish breakout from the resistance trendline will be the key signal for trend reversal and surge the price back to the $1 mark.

Cardano(ADA) Price Analysis: At Crucial Support

Source: Tradingview

For over a week, the ADA price has been moving nearly sideways trying to obtain suitable support at $0.24. The long-lower price rejection tails showcased in the daily candles reflect the rising buying pressure and active accumulation from traders.

If the bullish momentum rises, a potential reversal from this support could surge the price back to the $0.3 psychological barrier. However, to obtain an established recovery rally, the buyers to breach pierced the overhead trendline.

This anticipated breakout will offer buyers a solid launch pad to surge the ADA price above $0.35.

The post Top 3 Cryptocurrency Set to Explode in Rebound Rally appeared first on CoinGape.

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Brian Bollinger
CoinGape