Popular analyst Josh Moden shares with his subscribers the perfect buy zones for top crypto assets as the market is experiencing major dips.
Polygon (MATIC)
First on the trader’s list is Polygon (MATIC). According to the trader, MATIC price recently swept the swing lows of a crucial barrier, kick-starting an upswing. At the time of the video, MATIC was trading at $1.5.
The trader suggests a good entry-level is at $1.4 where the current demand zone lies. From there, Moden expects Polygon to grapple with the 50% retracement level at $1.75.
“If MATIC price manages to produce a higher high above this barrier, it will confirm the start of an uptrend.”
If this happens, the trader says Polygon could continue its ascent and make way to retest the $1.88 resistance barrier. This climb would constitute a 15% advance from the current position. If the buying pressure increases, MATIC price could extend this run-up to tag the range high at $1.97.
XRP (XRP)
Next up is XRP (XRP). The XRP price followed the rest of the cryptocurrency market lower over the weekend. At the time of the recording, XRP was trading at $0.9.
According to the trader, XRP price completed the most bearish weekly candlestick close and as of now, XRP now has very little support structure remaining. Moden suggests a potential buy zone is at around $$0.88 and $0.73 respectively.
He adds that bulls ultimately need XRP price to close at or above the $1.18 level to establish a clear and renewed bull market.
Cardano (ADA)
Last up on Moden’s list is Cardano (ADA).
“Things have been relatively bearish for Cardano. It failed to pump alongside Bitcoin in October and has steadily declined to its lowest price point in 90 days.”
At the time of the recording, ADA was trading at $1.4
Moden analyzed that a good entry is at $1.29 and $1.08. According to the trader, if the downtrend continues, it would resume with the next target objective at $1.29. The bulls will have to push and sustain the price above the 20-day EMA to negate the bearish view. The pair could then rise to the strong resistance at $1.87.
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