Altcoins

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Three major cryptocurrencies could enter rallies

Many crypto analysts believe that now might be the time to look at investing in other major, top 10 digital assets such as ethereum, ripple (XRP), and Cardano.

Altcoins

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With the OG cryptocurrency, Bitcoin (BTC) recently nearing the $9,000 mark on Bitfinex a few days ago, it seems that everyone in the crypto community has had their eyes and predictions on the largest crypto.

Despite Bitcoin displaying some bullish behaviour in the last few weeks, many believe that the hype is already beginning to die out. Many crypto analysts believe that now might be the time to look at investing in other major, top 10 digital assets such as ethereum, ripple (XRP), and Cardano.

Currently, these three cryptocurrencies have been showing immense strength, and many believe they’re not garnering the attention they deserve.

Ethereum On The Verge Of  A Massive Rally

Currently, there are far too many traders who are ignoring ethereum’s performance. Many believe that the currency could see a drop well below $100.

Many fail to see that ethereum has reversed its trend from a long-term perspective. During the week of May 13th, the market broke free from a rounding bottom pattern with notable volume after breaking the $200 resistance. The recent breakout effectively brought an end to ethereum’s 16-month bear market.

Many believe that in the next few weeks, ethereum which is currently trading at $283.27, could see a correction and retest at $200 as support. After this expected brief pullback, experts predict that the market could climb as high as $365 in one month.

Ripple Could Be Ready For A Rally

Ripple’s behaviour in the last few weeks has been even more impressive. From the period of November 2018 to May 2019, the cryptocurrency was caught in range accumulation, flailing between  $0.30 and $0.38. Now that XRP has escaped from a pattern of sideways accumulation, it seems to be gearing up for a dramatic surge in price.

Experts expect XRP to see a correction which will bring it down to $0.40 (currently trading at $0.46) before shocking many traders with a notable rally to as much as $0.57.

Crypto analysts believe this is possible as we’re about to see two golden crosses on the short term daily timeframe. At the time of press, the 50-day moving average (MA) is about to surpass the 200-day MA. These forthcoming golden crosses indicate that the market is about to enter an important bullish phase.

Cardano’s Also Ready For Its Rally

Lastly, Cardano (ADA) has boasted bullish behaviour since early this year. To date, ADA has already surpassed two of its significant resistance levels. Notably, the crypto has transformed these resistances into vital support barriers.

The final line of defence of the bear market is the measly $0.10 resistance. Above this price, there is no known resistance for a bull market. This ultimately means that Cardano has massive potential for notable gains.

Experts believe that Cardano will consolidate for another week or more before continuing along with its upward trend. Buyers should consider waiting for the market to stabilize around $0.086 before making a purchase.

Conclusion

With all the attention that Bitcoin has been garnering, many potential investors are missing out on opportunities to invest in altcoins.  Ethereum, ripple, and Cardano are all displaying bullish behaviours and could very likely enter into massive rallies in the next month or less.