Analyst Josh Moden suggests 2 top altcoins to invest for a bargain
High-profile trader Josh Moden from CryptoBusy shares with his subscribers 2 altcoin gems to buy during this dip that have some excellent momentum potential once the market bounces back.
First on the trader’s list is Polygon (MATIC). The coin has been bearish in recent days as the market expects more downside to follow after the current consolidation ends. At the time of the recording, MATIC was trading at $1.59.
As Moden says, MATIC price remains inside a broader rising wedge pattern on its candlestick chart and has struggled to find support. However, he suggests that a move above $1.70 could trigger some intense buying pressure and deny bears their selloff. Otherwise, MATIC can move lower to $1.4 to find its support level.
“We may even come to around $1.40 to find its support level before, then moving up to our target of $1.70. It is a very decent gain to be made there. If we do break above there, we have another target around $1.83 and then above that, we have a target at $2 dollars.”
Next up is Solana (SOL). Solana (SOL) price saw its value depreciate slightly, slipping below the critical support level at $219.75. At the time of the recording, SOL was trading at $221.
According to the analyst, Solana price came under some selling pressure whilst respecting a top side trend line that had been limiting further upside for most of November. At the current time, SOL is testing the previous level of demand of $215.
However, the trader also highlights that the break of that top trend line would then see accelerated inflow from bulls with demand-side volume exploding and a resulting spike in the price action very soon. And once bulls can consolidate above $240, the analyst says that new all-time highs will come in days.
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