Crypto Price Analysis June 09: MATIC, XTZ, LINK, SOL, HNT

Key Insights:

• The crypto market is reeling back in terms of volatility this week.
• Altcoins, including Chainlink, Tezos, and Helium, led the rally today.
• About half of the top 100 cryptocurrencies closed in green today.

With the arrival of The Merge yesterday, the crypto market was expected to be triggered for a rally led by the altcoin king Ethereum.

But while the king rested, most of its subjects took matters into their own hands, and as a result, the crypto market was saved from another red candle.

Polygon (MATIC)

Despite noting no significant rise in price action since the end of the May crash, MATIC has been stuck in a sideways momentum for a month now. All the rises are corrected over the next few days, and the cycle continues.

Even after marking a 7.52% rise today, MATIC might remain rangebound at $0.64 since the Bollinger Bands indicate no major price swings coming anytime soon.

Tezos (XTZ)

Tezos was one of the top-performing cryptocurrencies of the day as the altcoin has been in a sustained incline over the last month. Up by 32% since May 11, the altcoin was trading at $2.21 at the time of writing, receiving a 16.3% push just this week.

The rise also effectively pulled XTZ out of the bearish zone that the coin has been stuck in since April, as visible on the Relative Strength Index (RSI).

Chainlink (LINK)

Closing in green consistently throughout the week, LINK has inched closer to breaching the $10 mark and closing above it.

Up by 8.36% in the last 24 hours, the altcoin might also sustain this rally since the crypto is receiving consistent support from the community.

The Chaikin Money Flow indicates that the growth is also organic since money has been flowing into the asset.

Solana (SOL)

Solana is in an interesting bind as following Ethereum’s footsteps, the altcoin has declined by more than 9% since the crash occurred.

Solana’s crash has been one of the most disappointing ones since, in less than nine months, SOL went from trading above $200 to trading at $40.5 at the time of writing.

This is despite the fact that the MACD has been consistently indicating a bullish crossover on the charts.

Helium (HNT)

Among the top cryptocurrencies of the week, the relatively lesser-known cryptocurrency Helium has been on an uptrend for the last ten days, rising from the lows of $6.89 to $11.97 at press time.

The altcoin is also one of the few to observe sustained growth and will continue to do so, as evinced by the Parabolic SAR’s active uptrend.