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Five Layer-1 Cryptos to Keep a Close Watch in the Current Bear Market!

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The post Five Layer-1 Cryptos to Keep a Close Watch in the Current Bear Market! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The crypto markets have rebounded after 4 to 5 days of a bearish trend as BTC prices were restricted below $20,000. However, with a fine jump beyond these levels, the altcoins along with Ethereum have surged significantly. On the other hand, some of the layer-1 tokens on Ethereum display a huge possibility of rising high with soaring numbers. 

Cosmos(ATOM)

The Cosmos price ever since the beginning of 2022 was trading within a huge falling wedge that it broke recently. With the beginning of the second half of 2022, the asset gained extreme bullish momentum and now surging high aiming to secure levels above $12.4 at the earliest. Once these levels are tested and cleared, then rising above $15 to reach $20 may not be a tedious job by the end of 2022.

Solana(SOL)

The SOL price had a bearish start for the year 2022, but during the Q2 trade, the asset gained immense bullish momentum and surged by more than 80%. No doubt, all the gains went in vain, but the asset broke out of the bearish falling wedge and rose nearly 67%. However, the asset further dropped by 28% and rebounded finely before hitting $30. Therefore, it appears that the asset has completed the correction and may be due to a firm uptrend.

Avalanche(AVAX)

The Avalanche price after defending the support at $60 a couple of times, dropped massively to test the lower support at $30. After breaking these levels, the price began trading within a descending parallel channel. The price rebounded from the middle bands of the channel in the last week of Q2 and surged more than 30%. Woefully, the recent plunge dragged the price back to its previous levels but did not re-enter the channel. Hence flashing bullish signals for the asset in the upcoming days.

Polygon(MATIC)

MATIC price after facing a massive rejection from the levels close to $3 just before the end of 2021, dropped nearly 90% to hit the bottom at $0.337. However, ever since the asset rebounded from the lows, is trading along the uptrend line. The price is now aiming at a parabolic recovery to achieve $0.62 levels at the earliest. After securing these levels, the MATIC price is expected to secure levels above $0.8 and later at $1 at the earliest. Therefore, by the end of 2022, Polygon’s price is expected to regain its lost levels close to $2. 

Chainlink(LINK)

Chainlink’s price displaying a little diverse trend has failed miserably to hold $10 and plunged hard to hit the bottom at $5.38. The price heavily consolidated between $6 to $8 for nearly 2 months. Currently, the LINK price has again rebounded from the bottoms and may test the upper resistance at $7.24 at the earliest. The asset much similar to previous times may get rejected or display a fakeout to $9. However, if the asset holds above $8, then a strong upswing may be imminent. 

Along with these tokens, other Layer-1 tokens like Polkadot(DOT), Elrond(EGLD), Near Protocol (NEAR), etc may also be considered. However, the current rebound is yet to be validated as a recovery phase. With a 3% to 4% jump in the top assets, the altcoins registered double-digit gains. Therefore, if the top assets validate the recovery, these tokens are expected to surge with a huge margin. 

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