Despite Bitcoin’s recent decline, several altcoins like Solana （SOL）, Polkadot （DOT）, NEAR Protocol （NEAR）, and Kaspa （KAS） are showing signs of potential recovery. This article analyzes the resistance levels and market trends for these altcoins.
Points
- Bitcoin’s struggle to maintain support levels.
- Solana’s positive divergence indicating potential recovery.
- Polkadot’s V-shaped recovery and upward momentum.
- NEAR Protocol’s weakening selling pressure.
- Kaspa’s bullish indicators and support levels.
Bitcoin’s recent decline has intensified selling across several altcoins. However, some have shown resilience, maintaining strong support levels and signaling potential rallies. Let’s delve into the top altcoins that could lead the recovery if Bitcoin makes a move toward $60,000.
Bitcoin Price Analysis
Bitcoin fell below the $56,552 support on July 5, but bulls managed to defend this level, preventing a further drop. The downsloping 20-day exponential moving average （$61,231） indicates a bearish advantage, but the positive divergence on the relative strength index （RSI） suggests slowing bearish momentum. For a sustained recovery, buyers need to push Bitcoin above the 20-day EMA to extend the range-bound action between $56,552 and $73,777.
Solana Price Analysis
Solana （SOL） is showing signs of forming a positive divergence on the RSI, suggesting reduced selling pressure. If bulls can push the price above the 20-day EMA （$141）, SOL could rally to the 50-day SMA （$153） and the downtrend line. Failure to do so could see SOL drop to $80 if it breaks below $116.
Polkadot Price Analysis
Polkadot （DOT） has continued its purchase momentum, pushing the price above the 20-day EMA （$6.08）. Clearing the 50-day SMA （$6.54） could lead to a rally towards $7.29 and $7.77. A decline below the $5.38 to $4.91 support zone would signal bearish activity at higher levels.
NEAR Protocol Price Analysis
NEAR Protocol （NEAR） shows a positive divergence on the RSI, suggesting weakening selling pressure. A break above the 20-day EMA （$5.17） could lead to a rise to $5.63 and potentially complete a double bottom pattern, targeting $6.11. A drop below $4 could trigger a new downtrend to $3.50.
Kaspa Price Analysis
Kaspa （KAS） has shown bullish signs with support around the 50-day SMA （$0.15）. If bulls maintain the price above the 20-day EMA （$0.17）, KAS could climb to $0.19. A break below the 50-day SMA could see KAS drop to $0.13 and eventually to $0.10.
解説
- Bitcoin’s recovery is crucial for the broader market, with key resistance levels determining the next move.
- Solana’s positive divergence and potential rally to the 50-day SMA highlight its resilience.
- Polkadot’s upward momentum and V-shaped recovery suggest strong buyer interest.
- NEAR Protocol’s weakening selling pressure indicates a possible price rise.
- Kaspa’s support levels and bullish indicators point to potential growth despite recent declines.