The crypto market is surging once more, and many coins are seeing rapid recovery, already seeing higher prices than in the past 12 months. As usual, all eyes are on Bitcoin, as the coin continues to dominate the market. This is nothing strange, as there was a time when the entire crypto market was Bitcoin, and nothing else.
Many early investors still see things that way and believe that this is the way it should be. Of course, Bitcoin is still the largest and most important coin ever developed, considering the fact that it was the first crypto that started the entire trend, ten and a half years ago.
The coin is growing quickly and is reaching one milestone after another, with only brief corrections after each new successful surge. Right now, many are expecting it to reach and breach the $10k mark, and it is likely only a matter of time before it does it. For now, however, BTC has entered a certain period of hibernation, with its price balancing at around $8.500.
As the largest coin is taking a break, this might be the best time for investors to briefly take their eyes off it and take a look at some of the biggest altcoins. Many of them are just as good, but they do not receive nearly as much attention as they deserve.
1. Ethereum (ETH)
With crypto prices entering the green in the past few months, Ethereum has made just as big progress as Bitcoin itself, only on a smaller scale. However, for some reason, many fail to see that. Not only that, but some traders have started entering short positions, believing that ETH is about to crash back to $200.
This comes as a surprising development, considering the progress that the coin has been seeing recently. With high trading volumes that we have seen a few weeks back, Ethereum managed to join the surge, and it finally broke the resistance at $200. This is the breakthrough that the coin has been waiting for, for about 16 months, and it marked the end of a bearish period for the second largest crypto.
Right now, its largest resistance sits at $290, and the next one is believed to be at $360. Of course, there are no certainties when it comes to crypto, but it does seem like ETH is going for the stars in a foreseeable future.
Next, we have XRP, which managed to grow slowly, but surely, even during the period when the crypto winter was at its peak. The coin was trading sideways since the second market crash, back in November, and it was mostly stuck between a support at $0.30 and a resistance at $0.38. However, it managed to breach the resistance recently, and its current price is at $0.43, and ready to grow even further.
Numerous analysts believe that XRP is likely to see a mild correction, and then see a surge that will take it all the way up to a resistance at $0.57. It is certainly something to keep in mind, and a reason to watch this coin closely in days to come.
3. Cardano (ADA)
Finally, we have Cardano, which currently sits at 11th spot, but only because BSV saw a major surge recently, and pushed it out of the top 10 list. However, BSV has been entering and exiting the list multiple times already, and is not the coin that is likely to find stability soon, particularly due to its rivalry with BCH.
As for ADA, the coin managed to breach two major resistances already, and turn them into its supports. However, ADA’s biggest victory will be the breach of $0.10, and the coin is undoubtedly pushing towards it. Once this level falls, it is unlikely that Cardano will see such a troubling level for quite a while. In other words, as soon as this resistance has been breached — ADA will likely blow up, This might not happen for some time yet, but it is coming, and investors should keep that in mind next time they go out there, picking coins.