Crypto Price Analysis June 23: CRV, MATIC, ENJ, SOL, COMP

Key Insights:

• Bitcoin and Ethereum make no significant growth for the eighth day.
• Most altcoins closed in green, led by Curve DAO token.
• The ones to mark a decline also limited their fall to 2-3%.

The broader crypto market continues to drag its value at $900 billion as most of the altcoins in the market marked a rally today.

With the king coin, Bitcoin, and altcoin king Ethereum consolidating this week, the entire market might be blocked from sustaining the recent rallies.

Curve DAO (CRV)

As one of the best-performing assets of the day, CRV managed to mark an almost 17% rally in a single day yesterday, adding to the week-long rise of 39.79%.

Although the altcoin is still far away from recovering the losses it witnessed this month, trading at $0.8, yesterday’s rise brought it closer to achieving it.

The MACD continues to exhibit a bullish crossover at the time of writing, with green bars taking over the helm.

Polygon (MATIC)

Following in the footsteps of CRV. MATIC too registered a 20.37% growth in the last 24 hours after Polygon announced its achievement of Carbon Neutrality for this year.

The news was enough to not only push the coin beyond $0.5 but also help it escape the bearish zone.

The Relative Strenght Index (RSI) pulled out of the bearish zone after more than two months furthering MATIC’s efforts to reclaim its 45.46% losses.

Enjin (ENJ)

After noting no significant growth in the last few days, ENJ rallied by 11.02% in 24 hours to note a 24.67% rise in 4 days, bringing the altcoin to the mark of $0.5.

This will reinstate investors’ confidence in the asset, and at the same time, inflows could return to ENJ.

After the 11-day-long decline of 36.69%, ENJ lost a lot of the inflows from its holders, which recovered during the last few days. And a rise as such will only further it.

Solana (SOL)

One of the top 10 cryptocurrencies in the world, SOL joined the list of the best-performing assets as it shot up 11.21% in the span of a day. This added to SOL’s 32.76% rise bringing the altcoin closer to invalidating the 32.36% losses of June.

Being one of the few altcoins to begin recovery this soon, SOL has already reclaimed the bias of the Bollinger Bands.

Although the volatility has not come to an end for the altcoin, the bias acting as support will only push the price upwards during price swings.

Compound (COMP)

After a 9.61% rise yesterday, COMP crossed the $40 mark to trade at $43.24 at the time of writing.

Even though the DeFi token is observing receding bearishness on the Awesome Oscillator, it still has a long way to go before turning its 50.87% recovery into a bullish rally.

Once the bars flip up and rise from thereon, COMP will be in a good spot to mark a solid rally.