Cryptocurrency market has become more active in recent days. The tremendous performance from Bitcoin has caused an increase in its market dominance which rose from 44% to a peak of 48%. However, altcoins were underperforming and failed to keep up with the pace of Bitcoin. Everybody is expecting an altcoin market bullrun in the upcoming weeks, and speculations are on for Ripple (XRP), Cardano (ADA) and Polygon (MATIC).

XRP’s price action has created an ascending price channel on its daily chart. Currently, there is an ongoing war between the bulls and bears to defend the support level at $0.5176. In case the support level breaks, the altcoin's price may drop to the demand zone between $0.4617 - $0.4747. Thus, traders should keep an eye on this level to make profitable short term investments.

Similarly, ADA’s price has also formed an ascending price channel over the last 2 weeks. To continue the bullish trend in the forthcoming week, the altcoin's price must remain above the $0.3822 mark. ADA’s price is currently being supported by the 9-day EMA line. In case, the altcoin falls below the 9-day EMA line, it may plunge to as low as $0.3576.

On the other hand, Polygon (MATIC) has formed a Bullish Ascending Triangle pattern on the daily chart. Once the price breaks above the strong resistance at $1.1578, it will surge towards the next resistance level at $1.2542. For traders to confirm the bullish trend, the 9-day EMA line must cross above the 20-day EMA line.

Altcoins seem to have the potential to provide investors and traders a good platform for short-term investments. All three altcoins that have been discussed need to keep an eye on key levels to determine if the bullish trend will continue in the upcoming week.



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