Recent market analyses have highlighted a growing interest in altcoins, which have been trailing behind Bitcoin for some time. However, there are signs that altcoins are starting to make significant strides, with some major cryptocurrencies closely following Bitcoin’s trajectory. This could signal the beginning of a more widespread surge in the altcoin market. Which altcoin to buy in the current market? Keep an eye on the below
1. Ethereum (ETH) – A Strong Altcoins to Watch
Ethereum, ranking as the second-largest cryptocurrency by market capitalization, is showing notable upward momentum. Observations suggest that surpassing a specific price threshold could mark a prime buying opportunity for Ethereum, based on its trading patterns and investor behavior. At the latest check, Ethereum’s price reflected a positive growth over the past week and month.
ETH/USD 1-day chart – TradingView
2. Solana (SOL) – Gaining Momentum
Solana has been part of the broader uptrend in the cryptocurrency market, registering significant gains over the last month. Technical analysis of Solana’s chart indicates it is approaching a critical juncture, with potential for upward movement. However, investors should watch key support levels, as any weakness could lead to a shift in the asset’s trajectory. Currently, Solana’s price is up both daily and over the past week, with a substantial monthly increase.
SOL/USD 1-day chart – TradingView
3. XRP (XRP) – Potential for Bullish Rally
While XRP has not shown the same level of recent growth as some other assets, there remains optimism for a bullish rally. Analysis of its trading pattern suggests a consolidating trend that could lead to significant upward movement. Despite a monthly decline, XRP’s current trading price shows daily and weekly gains.
XRP/USD 1-day chart – TradingView
Altcoins to Watch: Will they continue to go up?
If we look from a technical perspective, all the above altcoins represent a similar trajectory. Prices increased, consolidated for a brief while, and now are on the way to make higher highs. Crypto bullruns usually behave in a similar manner. Looking at previous crypto price trends, this is exactly how 2017 and 2021 behaved. Of course, as with any investment, it is always a good idea to keep track of prices daily and set adequate stop-loss triggers to hedge any market risk.