Altcoins have continued to register double-digit gains overnight as Bitcoin tries to rebound from its December 4 plunge. Terra, MATIC, and Chainlink could produce triple-digit gains by the end of the current bull run, based on their price trends.
Terra’s LUNA has increased by 72 percent in the last two weeks. There is a surge in demand for LUNA as the algorithmic stablecoin acquires wider popularity and utility.
Terra has shifted Shiba Inu, Dogecoin, and Avalanche into the top ten cryptocurrencies in terms of market valuation. Analysts have assessed Terra’s price movement and forecast a 169 percent rally before the bull run comes to an end.
The inclusion of burn in LUNA since the Columbus 5 upgrade has encouraged a bullish narrative. Terra, according to the expert, is undervalued and outperforms most other altcoins.
During the current bull run, the price of Terra might climb by more than 2.7 times.
At the time of writing, LUNA is trading at $73.27 up by 5.4% in the last 24 hours. The resistance on the upside is at $74.38 and the support on the downside is at $70.40.
MATIC has emerged as a favourite among institutional investors among the top 20 altcoins by market capitalization. Over the last month, the utility of Ethereum’s scaling solution has increased, as has daily revenue.
MATIC’s price has risen by almost 49% in the last 24 hours, and analysts are optimistic about the altcoin future. The MATIC price trajectory is comparable to the rally in March 2021, according to analysts. The price of MATIC has a bullish goal range of $7.5 to $15, according to analysts.
At the time of writing, MATIC is trading at $2.45 up by 5.6% in the last 24 hours. The resistance on the upside is at $2.5 and th support is at $2.2.
The altcoin’s demand has skyrocketed as a result of Chainlink’s agreements. In the last 24 hours, the price of chainlink has risen by more than 12%. The demand for the altcoin grows as it protects more dApps and intricate smart contracts in the crypto industry.
Chainlink price is expected to reach $240 in 2022, according to cryptocurrency analyst “CleverCrypto” on YouTube.
At the time of writing, LINK is trading at $22.38 up by 10.3% in the last 24 hours. The resistance on the upside is at $23.15 and the support is at $20.23.