After the bearish sentiments brought on by the collapse of Silvergate Bank and the closure of Silicon Valley Bank, both of which were exposed to the crypto business, the cryptocurrency market now looks more hopeful due to the strong rise of Bitcoin and Ethereum throughout March. According to analysts, these five altcoins are worth watching as the crypto market appears to be rebalancing for now.
The first secret altcoin: Cardano (ADA)
In particular, Cardano is facing a ‘huge’ sales wall of 3.85 billion ADA. However, if it can break through this resistance barrier, ADA could launch a bull rally as it only has a small resistance ahead, according to data analysis published by crypto analyst Ali Martinez.
Cardano was changing hands at $0.40 at press time, posting a 3.45% gain in the last 24 hours, adding to the cumulative 11.99% price increase over the previous seven days and greater 16.33% progress over the past month.
Second place is Ripple (XRP)
While the legal battle between the US Securities and Exchange Commission (SEC) and Ripple continued in April, XRP rose exponentially in March. However, the token retraced slightly from the $0.57 high to trade at $0.52 at the time of publication.
With XRP finding the next level of resistance after finding support around $0.51, investors are hoping it can climb above $0.57 and perhaps even test $0.60 this week. The open interest volume of XRP perpetual futures has exceeded $600 million on five different crypto exchanges. Kaiko explains:
XRP perpetual futures open interest has more than doubled this week amid bets on a possible victory for Ripple in its lawsuit against the US.
Popular meme coin Dogecoin (DOGE) is also on the list
While Dogecoin (DOGE) showed some slight signs of divergence with a +9% jump over the past weekend, most of the crypto market remained stable at the same time, according to Santiment data. The data also shows that addresses holding more than 10 million DOGE have accumulated 1.47 billion coins worth $1123.1 million since January 1. DOGE’s price has slumped a bit as it fell 4.48% in the last 24 hours, but the latest accumulation shows that investors’ interest continues.
Dogecoin is trading at $0.07781, down almost 5% in the last 24 hours after climbing as high as $0.085 over the weekend.
Leading altcoin Ethereum (ETH) is worth watching
cryptocoin.com As we reported, Ethereum developers announced that the main-net upgrade that will enable ETH withdrawals will take place on April 12, 2023. While Ethereum is currently struggling to gain support above $1,800, those withdrawing from the upgrade, which will include EIP-3651, EIP-3855, EIP-3860, EIP-4895 and EIP-6049, could see investors entering the digital asset ahead of the event.
Ethereum in particular experienced bullish momentum the week before Merge, the last major upgrade, which replaced Ethereum’s PoW consensus process with a PoS mechanism. This was accomplished by combining Beacon Chain with Ethereum Virtual Machine (EVM). Known as Shapella, the upgrade combines separate previous updates to Shanghai and a consensus layer known as Capella. In addition, changes were made to the Engine API, which connects the two layers.
Ethereum sentiment on one-day indicators on the finance and crypto monitoring website TradingView is bullish. So, the summary suggests a ‘buy’ at 14, with the oscillators pointing at ‘neutral’ at 9 and the moving averages pointing in ‘strong buy’ territory at 13.
Latest altcoin project Polygon (MATIC)
Polygon is a Layer 2 scaling solution for Ethereum that aims to address some of the key challenges faced by the Ethereum network, such as high fees, slow transaction times, and limited scalability. A network of interconnected Blockchains, known as side-chains, built on top of the Ethereum Blockchain.
Polygon provides a set of tools and infrastructure to enable developers to build and deploy scalable, decentralized applications (dApps) across its network. It also supports interoperability between different Blockchains, allowing users to easily transfer assets and data between different networks.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.