cryptocoin.com As we reported, investors are closely following the big Ethereum Shanghai update. With the eyes on Ethereum since the beginning of the week, the Ethereum (ETH) price has risen above the $ 1,900 levels. However, experts pointed to Ethereum competitors and drew attention to these 3 altcoin projects instead of BTC and ETH! Here are those altcoins…
These altcoin projects may soon surpass BTC and ETH!
As you know, the attention of the crypto community has been on the Shanghai update, the Ethereum hard fork, for a long time. Ethereum has a strong in-chain setup and is leading the way for other altcoins showing signs of a potential rally in the near term.
Ripple (XRP)
Although Ripple (XRP), which is closely followed by the crypto community, is facing a major lawsuit, Ripple’s native coin XRP is holding strongly above the $0.50 level momentarily. Ali Martinez, one of the leading cryptocurrency analysts, stated that he has seen an upward trend recently in his comments for XRP and announced that he is on the verge of a breakout to the $ 0.80 levels. The technical analysis shared by the analyst is as follows:
XRP could be on the verge of a 47 percent rise if it closes a 3-day candlestick above $0.54. A successful break could skyrocket XRP to $0.80!
According to the latest report, XRP whales have collected more than 150 million XRP while Ripple has introduced a new offering for the XRP Ledger called Hooks.
Polygon (MATIC)
According to experts, another altcoin that should be on the radar of investors right now is Polygon’s native crypto, MATIC. The project has gained a strong momentum recently, with a 33 percent gain from year-to-date. MATIC price remains above $0.10. However, MATIC price has corrected about 33 percent since the mid-February peak of $160. Popular crypto analyst Ali Martinez stated that Polygon (MATIC) has seen a strong accumulation recently, saying:
About 52,410 addresses bought 4.81 Billion MATIC in the $0.9 – $1 range, creating a strong support zone for MATIC that could fend off new lows. Conversely, to exit, Polygon must overcome resistance between $1.14 and $1.30, where 48,760 addresses have 1.66 billion MATIC.
Avalanche (AVAX)
Leading altcoin Ethereum’s Layer-1 competitor Avalanche (AVAX) has shown signs of upward momentum, gaining more than 70 percent year-to-date and more than 20 percent last month. Social volumes for AVAX have increased recently, which could provide a catalyst for AVAX price. On-chain data provider Santiment explains:
When the Avalanche price hit $21 in February 2023, there was minimal social volume and sentiment was stagnant. However, during the current pullback, there has been a notable increase in both social volume and positively weighted sentiment in the AVAX market.
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