The crypto markets are rising today-most the tokens have surged by nearly 10%, breaking beyond their respective resistance levels. Altcoins also appear to be in a very strong position currently, displaying the possibility of a bullish breakout soon. However, other altcoins, such as Solana (SOL) and Polygon (MATIC), are seeing slight pullbacks, although Altcoin Sherpa, a well-known expert, remains bullish on SOL and MATIC.
Solana (SOL)
After the dreadful drop to a single-digit figure due to the exposure to the FTX collapse, SOL’s price rebounded nicely and surged by more than 200% to reach above $26. However, despite the recent drop, the fresh upswing again lifted the price back above $23, where-in the bears are again hindering the progress of the rally.
“ Haven’t checked this in a while; looks like it’s still consolidating. If it breaks $27 then I think $38 is possible, will take $BTC being healthy for this to happen though. Still think this network will survive but I think there are better opportunities for now,”
Polygon (MATIC)
Polygon’s price, on the other hand, has been trading within a rising parallel channel and attempting to break above the resistance. The bearish influence is hindering the price rise, presently, so a minor pullback below $1.35 may be expected in the next few hours.
However, the bulls are expected to maintain their strength at these levels, which may spark a fine rebound to reclaim the lost levels. Eventually, the MATIC price may rise by $.5.5 in the next few days.
“This one goes to $1.70 if it breaks $1.30. It’s noticeably lagged behind other altcoins; the key reason is that it was moving while the rest of the market was shit. Looking solid now though,”
