Bitcoin is getting all the attention. Nothing new about that. There was a time in which the whole cryptocurrency market was Bitcoin alone, and lots of people still think that’s how things are. Bitcoin has been performing very well in the market lately, so that brings even more attention to it.
After the recent crash and current recovery, the next significant milestone for Bitcoin will be the $10,000 level, which it more likely will break at some point but not now. It seems that Bitcoin’s momentum is exhausted for the time being, so this is an excellent time to look to other digital assets which are every bit as reliable as BTC, but that still have plenty of room for growth.
To be more precise, we mean Ethereum, Ripple’s XRP, and Cardano’s ADA. These three digital coins are showing off their strength, and the market is not paying them enough attention.
Ethereum (ETH) just about to surge to $360
As things have turned green in crypto since last April, Ethereum has probably failed to get the attention of the traders that the cryptocurrency deserves. Some even adopted short positions hoping to liquidate them when Ether hit $200.
All those who are not taking long positions in Ether or that are still waiting for it to plummet are failing to see that the cryptocurrency has turned around the situation in which it was not so long ago. The week before last, the market left behind a bottom rounding pattern. The movement was supported by high trading volumes, so ETH broke through a $200 resistance level. And that ended a 16 month-long bearish market for Ethereum. It’s not crypto’s ugly duckling anymore, it’s one of the swans.
As it looks, Ethereum is going to test the $290 resistance level soon, and it’s going to break it. As we write this, it trades at $269, which means it’s broken every resistance level. As a result, we expect to see it reach $360 in thirty days or fewer.
Ripple’s XRP is about to explode
The months between November 2018 and May 2019 were an accumulation period for XRP as it was trading sideways but rising slowly, trapped in a gap between $0.30 and $0.38. It’s broken out. It’s above the $0.4 psychological mark that’s been there for more than a year, and it trades at $0.4374 as we write this. It’s going up, and it’s gathering momentum for a real explosion.
Several analysts consider that XRP is going to take a couple of steps back so it can gather momentum to make a jump. In other words: it’s going to get a tiny bit down to the 0,4 level, and then it’s going to jump all the way to 0,57, and it’s going to test that resistance levels, and maybe it could break them.
Cardano (ADA)’s sky looks blue
The bulls have been running around Cardano’s currency, ADA, all year long. The token has left behind two critical resistance levels, and it’s turned them into support levels, which nowadays look more like barriers.
The bear’s last trench is at $0.10. Above that level, there’s no meaningful resistance for the bulls. So Cardano could soar and grow in value without any real opposition for quite a bit of time.
Cardano has already been up for a while, so it will probably spend some time consolidating its gains before it goes back up and stabilizes at the $0.087 level. The market can reach this goal in thirty or fewer days.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.