In the crypto market this week, major cryptocurrencies lost ground, with a few exceptions. However, according to some analysts, this could be an entry opportunity for investors. Crypto expert Elmaz Sabovic draws attention to 3 altcoin projects with prices below 1 dollar, which he considers as a good opportunity for investors to buy at the bottom level.
Altcoin projects are waiting for signals from Bitcoin!
cryptokoin.comAs you follow from , the performance of the leading cryptocurrency Bitcoin has affected the market. Altcoin projects are currently waiting for a signal from Bitcoin. According to crypto analyst Jelle, when the market exhibits positive momentum, there will be a significant increase in the value of altcoins.
First ranked altcoin: Cardano (ADA)
The historical movement in cryptocurrency provides a lot of insight to those who know where to look. Ethereum rival Cardano (ADA) dropped a clue that analysts picked up on. The prevailing consolidation phase in Cardano’s performance bears similarities to its behavior in late 2020. It is possible for ADA, which is in line with historical models, to make an upward move around April. If this historical repeat continues, it will likely make an upward move towards $0.80, according to crypto analyst Ali Martinez. This will be followed by a temporary correction to $0.60, followed by an increase to $7.
Meanwhile, ADA has fallen below the critical support level of $0.50. The altcoin was trading at $0.4986 at the time of writing. Thus, it experienced a decrease of 2.90% in the last 24 hours. Moreover, ADA lost 14.03% in value last week. The previous 30 days also caused a 17.04% loss to Cardano.
In second place is XRP (XRP)
One of the cryptocurrencies that suffered losses recently was XRP (XRP). The altcoin has lost almost 10% of its value since the beginning of the year. However, this could be a nice entry point for investors looking for upside. One should expect a positive intervention from emerging market participants in the context of XRP. Absent such an intervention, it is likely to see a significant macro correction, potentially to the $0.38 level, according to crypto analyst CoinsKid.
XRP is facing difficulties in maintaining its position at the critical support level of $0.55. If this support level proves untenable, a potential selling pressure scenario could materialize that could cause XRP to drop towards the $0.34 mark, according to analyst Ali Martinez.
Meanwhile, at the time of writing, XRP was trading at $0.5494. The altcoin lost 2.83% the previous day and 7.83% last week. XRP has seen a decrease of 9.85% in the last 30 days.
Last ranked altcoin: Polygon (MATIC)
The development team mainly determines the possible future of digital assets. According to experts, Polygon (MATIC) has the most committed developers in the industry. Polygon is the blockchain of choice for developers. It is a strong performer with a wide range of dApps and DeFi protocols leading in transaction volume. It also provides significant liquidity for GameFi and NFTs. According to Blockchain researcher Draco, this underlines Polygon’s important role in the Blockchain ecosystem. This type of commitment highlights the development team’s future plans. It also means they’re in it for the long run.
Meanwhile, MATIC was trading at $0.7917 at the time of writing. The altcoin lost 2.55% the previous day and 13.44% last week. However, it gained 0.28% over the past month.
The opinions and predictions in the article belong to experts and analysts and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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