The 2022 bear market has driven many altcoins to their lowest point, including Polygon – MATIC, Ripple’s XRP, and Apecoin – APE, which have nonetheless managed to stay afloat.
MATIC was unable to recapture the key resistance level due to recent dips. The price has dropped and is now charging again in a six-month demand zone. This area may collapse if the asset does not show strength in the coming days.
Even amid recent gains in major altcoins, Ripple’s XRP is down 2.2% today and has rejected the $0.36 price level. However, bearish sentiment has followed against its Bitcoin and Dollar peers.
The latest rise in price has signaled a buy action for Apecoin, following a recovery of more than 50% in value in recent weeks. It has started the week in a bullish mode, and more greens can be expected.
Key MATIC Levels to Watch
MATIC has started a new decline, and the closest level to watch for this decline is $0.75, which is above the orange zone. There is also hidden support at $0.73, just inside the zone. The important support level is located at $0.7, slightly below the marked zone. The support level to watch a breakdown is at $0.63
In the event of a rally, the resistance level to consider is the recent rejection level before breaking down to $0.87. The resistance level to watch above is $0.95.
Key resistance levels: $0.817, $0.87, $0.95
Key Support Levels: $0.75, $0.70, $0.63
Spot Price: $0.79
Trend: Neutral-Bullish
Volatility: Moderate
Ripple Price Analysis (XRPUSDT) – 4-Hour Chart
The price is approaching the important support level of $0.33. If the price breaks below this support again, the $0.3 level will be checked. The next sell target to watch below is $0.27.
A recovery above the mentioned support could trigger a buy towards the resistance levels of $0.373 and $0.41, located at the upper limit of the range. In the event of a breakout, the potential resistance level to watch is $0.44.
Key resistance levels: $0.373, $0.41, $0.44
Key Support Levels: $0.33, $0.30, $0.27
Spot Price: $0.34
Trend: Neutral
Volatility: Moderate
APE (APEUSDT) Price Analysis: Daily Chart
Apecoin faced a slight rejection at the $4.2 resistance level today. If it can close above this level before the end of the day, we can expect the price to advance to $4.5. A clear break above would confirm a massive buy at $4.73 and $5.1 before long.
If a retest of the channel occurs, the support level of 3.7 is likely to provide a bounce for Apecoin. Support to watch below the trend line is the $3.33 level in case of a dip. There is also support at $2.85 for a breakdown.
Key resistance levels: $4.2, $4.5, $4.73
Key support levels: $3.7, $3.33, $2.85
Spot Price: $4.1
Trend: Neutral – Bullish
Volatility: High
By Audy Castaneda
