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According to the Crypto Banter host, several events have occurred in the last few days that affect the crypto market dynamics. He added that the nature and extent of these events have led to several cryptos creating new trends, with fresh entry levels developing for bullish positions.
The analyst elaborated on the impact of these events in a recently uploaded video, identifying significant price levels for several altcoins, including Solana (SOL), Chainlink (LINK), Polygon (MATIC), Fantom (FTM), and Ripple (XRP).
The host analyzed Solana’s current status. Using the SOL/USD weekly chart on TradingView, he showed that $48 is a level of interest for any type of pullback for SOL. He identified an area of historical clusters on the weekly chart that coincides with the $48 region, noting that it marks an ideal buying area should the price drop to that level.
Focusing on Chainlink (LINK), the host spotted the $13.3 level as a hot zone down to the $12.2 region. However, he believes that if the price drops below the $12.2 region, the $9 level becomes a more significant area for a turnaround.
He also offered his opinion on Polygon (MATIC), which he identified as having broken the 200-day moving average on the weekly chart. The analyst showed that MATIC’s weekly chart is set up for a potential bounce that could happen at the $0.68 price region, ahead of a potential rally.
For Fantom (FTM), the host showed that it has pumped about 56% since the end of October. However, the current chat setup suggests it could pull back toward the 200-day moving average. He thinks such a pullback will launch FTM into a buy zone around $0.25. He considers the region a decent zone for implementing the dollar cost average (DCA) trading system.
The host also thinks Ripple (XRP) is approaching a hot zone from a technical perspective. Using the XRP 12-hour chart, he showed that the price recently bounced off the 50-day moving average, asking traders to look for a rejection on the downward trendline.
He believes if the current rejection pattern continues, the trend might turn around the $0.54 price region. He considers that a significant level because of the confluence of notable moving averages that converged to form support around that price.
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