These Altcoins are Positioning Themselves for Trend Continuation: Will They Form New ATH in 2024?

The post These Altcoins are Positioning Themselves for Trend Continuation: Will They Form New ATH in 2024? appeared first on Coinpedia Fintech News

The crypto bull run of 2024 has already begun, with the Bitcoin price surpassing $52,000 during the early trading hours. Although the bearish activity intensified at these levels, the markets don’t stop heading towards the upper targets any time from now. Hence, altcoins like Chainlink, Solana, Ethereum, etc. have gained immense bullish momentum and may soon trigger a rally beyond the pivotal zone. 

Chainlink (LINK) Price Consolidating Before Next Move

Chainlink’s price has largely been consolidating for a long time and as a result, a notable breakout was imminent. However, the price again fell into the same consolidation phase but only for a short time frame. A rise above $20 raised the trader’s confidence, which also slightly increased the bearish dominance. Presently, the LINK price is stuck between these two forces, which may result in a bullish breakout. 

The LINK price appears to be following a pattern of consolidation before the next price action. After the rise from the consolidation zone between $18 and $19, the price hit levels around $20 and has remained stuck. This suggests the weakness of the bulls, as the volume has dropped consequently. Moreover, the RSI and MACD are about to flash bearish signals, which may pave the way for the price to initiate a fresh bearish trend. Therefore, as the above chart suggests, the price may consolidate and rise and eventually reach the upper target of $25 in the next few months. 

Solana (SOL) is Heading towards $130

Solana price has been displaying a magnificent run since the start of the year, regardless of the network shutdown. The trader’s confidence in the crypto seems to have surged as the token is on its way to securing levels around its yearly highs. With this, the SOL price could validate the start of its bull run, aiming to form a new ATH in 2024.

The long-term chart of Solana suggests the price is undergoing a parabolic recovery and may reach the next resistance at $130 in the next few days. The buying pressure has piled up to some extent while the RSI is trying to remain within the bullish range. This indicates the bulls are dominating the rally, regardless of the interim bearish action. Therefore, the SOL price seems to be poised to maintain a healthy upswing and eventually reach levels close to $150 before the end of H1, 2024.