Critical Levels for the Top 5 Altcoins: SOL, XRP, INJ, TRB, LINK Analysis
The cryptocurrency markets had a weekend of gains, but BTC is currently experiencing a pullback. Altcoins have started to move due to the continued increase in BTC price. We have seen many cryptocurrencies surpass their resistance levels. So, what are the critical levels for the top 5 altcoins that are attracting the most attention? What price levels should investors be prepared for?
Solana (SOL) price has started to rise after BTC increased by over 25%, despite fears of selling off FTX assets. At the time of writing, the price of SOL Coin has dropped to $28.5 but remains above the $27 resistance area. The target region is the next resistance area at $32. Closing above this level could lead to a test of $38-40.
In the event of a possible decline, it is important to maintain the $27.5 level. If this cannot be achieved, we may see a rally end with closings below $25.
XRP Coin Analysis
XRP recovered from the $0.46 support but failed to gain the expected momentum. The dismissal of the lawsuit against the executives was an important move. Investors who were waiting for the SEC to make a move do not seem very brave at the moment. However, if the XRP price can surpass the $0.56 region, it can reach the peaks of $0.66 and $0.7. On the contrary, a decline to $0.49 and $0.46 can be targeted.
Chainlink (LINK) Price Predictions
Chainlink plays an extremely important role in the crypto space, and as interest in tokenizing assets grows, LINK Coin is also experiencing double-digit increases. Since its all-time high of $52, LINK Coin investors have been going through tough times. The $9.4 level has become a barrier that bulls have been unable to overcome for a long time. At the time of writing, it has dropped to $9.25, but if LINK can regain and close above the critical level, it can aim for $12-15 and $18. On the contrary, a drop to $5.5 can be expected.
Should You Buy Tellor (TRB)?
Tellor (TRB), a decentralized oracle protocol and an alternative to Chainlink, has benefited from the surge of interest in the RWA sector. TRB/USDT has increased by over 600% from $9 to $70 in the past few months. If the rally continues, it can test $100. However, losses can be as fast as gains in a possible reversal. The $44 level stands out as a strong support area.
INJ Coin Chart Analysis
Injective Protocol (INJ) is among the best-performing cryptocurrencies this year. Its price has increased by 9 times in 2023 and continues to attract investors. Just like MATIC supported its price with good news at the right time last year, today INJ Coin is doing something similar. At the time of writing, the price is at $8.94.
If the $9.5 resistance area can be surpassed, the price target in double digits can be achieved. However, if BTC loses its support at $28,800, the price of INJ Coin may also face the risk of dropping to $6.6.
Disclaimer: The information in this article is not investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research before making any transactions.