Prices are lower, with Polygon and Chainlink down 4.24% and 6.29%, respectively. Currently, Polygon is trading at $0.98 and Chainlink at $15.79. However, some coins have continued to push ahead. Over the last 24 hours, Bitcoin Minetrix, Kaspa, and Bonk are among the top crypto projects gathering momentum.
Traders are bullish despite correction
With the apparent macro trajectory now bullish, traders believe Polygon and Chainlink’s retracements will be swiftly corrected in the coming days.
In a recent tweet, analyst Michael van de Poppe suggested that Polygon will likely push to $1.3.
He also explained that MATIC is “lagging behind on SOL and AVAX but starting to get momentum.”
Based on van de Poppe’s chart, Polygon still respects its support zone, meaning it remains bullish despite the pullback.
Meanwhile, ZAYK Charts is also significantly bullish on Polygon, saying the token can reach $8.5 in the coming months.
The analyst references the weekly time frame price chart, stating, “MATIC is breaking out as expected. Ready for bang.”
ZAYK Charts refers to a bull flag formation, which Polygon is continuing to remain on the upside.
Trader Pentosh1 holds a mid-term bullish outlook, explaining he has “no idea how long it will take to play out” but expects Polygon to reach $1.7.
Moving to Chainlink, analysts have played off the recent downfall, with Top Marine speculating a reversal could be imminent.
Similarly, Jake Wujastyk commented, “the weekly setup still looks extremely strong with this volume shelf.”
The analyst then explained, “upside bull thesis remains w/ upside target of $30. “
A volume shelf represents a key level of interest for buyers and sellers with high trading activity. As such, MATIC’s volume shelf acts as strong support, with its price continuing to trade above it.
Which altcoins are bullish?
But while traders are optimistic that Polygon and Cardano will recover, other cryptos have continued to push ahead.
These projects are Bitcoin Minetrix, Kaspa, and Bonk; let’s explore each below.
Bitcoin Minetrix
Bitcoin Minetrix is a protocol enabling users to cloud mine Bitcoin from Ethereum.
Users can stake BTCMTX in exchange for Bitcoin mining credits–which are non-transferable ERC-20 tokens that they can burn on the platform for cloud mining power.
This makes Bitcoin mining effortless, opening it to all crypto users regardless of technical expertise or financial resources.
Furthermore, it offers a more secure alternative to traditional cloud mining solutions because its decentralized and transparent BTCMTX token means no cash changes hands, removing the risk of cloud mining scams.
In the ongoing presale, the project has raised over $6.6 million.
It holds a $15.6 million hard cap; but with excitement for the Bitcoin ETFs and the halving brewing, the presale is quickly gathering steam, and will likely sell out shortly.
Analysts are massively bullish on the project, with No Bs Crypto speculating the token to rally on listing.
In the ongoing presale, BTCMTX is trading for $0.0125.
Kaspa
Kaspa, a prominent cryptocurrency, has demonstrated resilience despite facing resistance at $0.15 in Q3 2023.
While other projects like Solana, Avalanche, Injective, and Internet Computer have slowed, Kaspa is firm, adding 17% on Dec. 28.
This recovery suggests that Kaspa is regaining momentum and could potentially surpass its $0.15 resistance level.
However, despite its recent bullish movement, KAS remains down 6% this month and is up just 12% this week.
Analyst Cryptokin7 noted that KAS is breaking above a trendline resistance and is hopeful that it will “retest the last ATH” shortly.
Kaspa is the world’s first blockDAG; a blockDAG is a blockchain ledger that can process parallel blocks, massively bolstering its scalability.
Its use case offers high scalability, with multiple blocks produced per second and 10-second finality. Moreover, it presents robust security and decentralization, and an efficient proof-of-work consensus mechanism.
The project is also building smart contract functionality, making it one of the leading proof-of-work chains to do so.
Bonk
Bonk, launched in 2022, gained significant recognition within three months, especially during Solana’s resurgence in Q3 2023.
This year, Bonk is up 14,296.35%.
In December,BONK rose by 253% after listing on Coinbase and Binance.
Nevertheless, Bonk has retraced, falling by 50% from peaks.
It is down 17% this week but has started to pivot over the past 24 hours, up 18.455% and faring as one of the top gainers.
Bonk is a meme coin on Solana.
There are over 649K holders and 120 integrations across ten blockchains.
Analyst Zer0 believes that Bonk has had its “flush” and that its current zone may be its bottom/support.
The trader points out that the “price shouldn’t close below $0.000015,” or the thesis is invalidated.
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