All eyes have been on the second largest in the world lately, scheduled to go through the Shanghai hardfork today, April 12. cryptocurrency currency was above Ethereum (ETH). Ether (ETH) price surged above $1.9000 on Monday, showing bullish momentum ahead of the big upgrade.
While the crypto community’s attention remains pinned to Ethereum at this point, there are other altcoins with strong on-chain setups that are showing signs of a potential rally in the near term. Let’s take a look at each of them now.
1. Ripple’s XRP
Ripple’s native crypto XRP It is holding strongly above the $0.50 level as of now. Popular crypto analyst Ali Martinez states that XRP is on the verge of a breakout that could reach $0.080. By sharing the technical setup for XRP, Wrote.
XRP could be on the verge of a 47% 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.
Whales Have Collected Hundreds of Millions From This Altcoin: What’s Going On!
2. Polygon (MATIC)
This is another altcoin that needs to be kept on the radar of investors for now. polygon‘s native crypto, MATIC, has seen strong momentum lately, gaining 33% year-to-date. MATIC price remains above $0.10. However, MATIC price has corrected about 33% since the mid-February peak of $160.
However, Ali Martinez explains that Polygon (MATIC) has seen a strong backlog recently. The analyst added:
About 52,410 addresses bought $4.81B MATIC in the $0.9 – $1 range, creating a strong support zone for MATIC that could fend off new lows. Conversely, to break out, Polygon must overcome resistance between $1.14 and $1.30 where addresses 48,760 have 1.66B MATIC.
3. Avalanche (AVAX)
Ethereum’s Layer-1 competitor Avalanche (AVAX) showed signs of upward momentum, up more than 70% year-to-date and more than 20% last month. Social volumes for AVAX have increased recently, which could provide a catalyst for AVAX price. On-chain data provider Santiment explains.
As Koinfinans.com reported, in February 2023, when the price of Avalanche reached $21, 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.
