3 Promising Altcoins: According to Analysts.
Due to the recent volatility in the market, it can be seen that investor expectations also differ and confusion arises from time to time.
Analysts of SafeTrading, on the other hand, provide advice to investors by looking at graphics of altcoin signals, social media interactions, development, volumes, and groups of cryptocurrencies during these periods.
According to all these estimates, there are three cryptocurrencies that are expected to rise in prices in the coming days: Polygon (MATIC), Harmony (ONE), and Chainlink (LINK).
Bullish Signals on MATIC.
Polygon is one of the cryptocurrencies and projects that we often hear about lately. Formerly Matic Network, known as Polygon, Ethereum is scaling them and evolving into a well-established platform for improving infrastructure.
MATIC, on the other hand, continues to exist as the proprietary cryptocurrency of the Polygon platform and is expected to become increasingly important in terms of governance.
Apart from the strength of the platform and the community, analysts say the technical charts are also giving positive signals about MATIC.
MATIC, which was trading at $ 1.14 at the time the article was published, got its share of the May 19 dip like any other cryptocurrency. According to analysts of SafeTrading, the key resistances are currently at $ 1.50 followed by $ 1.75.
With the market recovering in the coming weeks, the MATIC price is expected to rise. At the moment, however, analysts say that one should not forget that the price of bitcoin will be the benchmark.
Recent Changes May Affect the Price of Harmony (One).y (ONE).
The steps taken in 2021 are expected to enable Harmony to exceed expectations with innovative products and offerings. Developments continue to advance in line with the Scaling Inter-Network Financing roadmap, and experts say the steps are being taken successfully.
In addition, the Validator DAO was launched in Harmony. However, additional DAOs will be released in the next 6 months to improve the decentralization of the network and altcoin signals. In addition, the community is waiting for the completion of “Harmony Harmony ONE Love – Round 2”, which kicked off on May 25th. 425 developers took part in Harmony, as a result of which more than $ 300,000 in prizes will be awarded.
On the infrastructure side, Harmony also improves connectivity through the use of bridges. Ethereum Bridge works effectively on both Proof of Work and Proof of Stake platforms, offering the speed and efficiency of transaction fees. In addition, Bitcoin Bridge works with bitcoin-based assets such as Litecoin and Bitcoin Cash.
LINK, one of the most profitable cryptocurrencies of 2021, is believed to start a new growth chart in the coming days. For LINK, which was trading at $ 19.4 at the time of publication, $ 20 is currently considered a psychological level.
The pressure from LINK sellers is easing, analysts said, and investor interest appears to be on the rise. For this reason, it is believed that exceeding $ 20 will accelerate the rise in LINK’s price.
At the moment, analysts remind that Chainlink broke an all-time record with $ 52 on May 10, and draw attention to the fact that there is a large area for growth in the event of a rally.
An Important Development for the Efficiency of Ethereum(ETH) Addresses!
Throughout the history of cryptocurrencies, Bitcoin and the largest altcoin Ethereum have been in constant competition.
Some Ethereum proponents argue that Ethreum could surpass Bitcoin and become the largest cryptocurrency by market capitalization in the world. Now Ethereum has surpassed Bitcoin in the targeted event.
Bitcoin activity in addresses has been declining over the past few weeks, with prices currently hovering between $ 30,000 and $ 35,000.
While ETH has also struggled in recent months, its performance has been highly correlated with BTC. Market experts hope the altcoin will bounce back after the EIP-1559 rollout as the network prepares for the London upgrade.
As we recently reported, the project eventually took off on the Ropsten testnet, which burned 88,000 ETH worth over $ 174 million in Ethereum.
Sentiment data showed a significant increase in activity on the Ethereum blockchain network, surpassing Bitcoin for the first time in the history of cryptocurrency.
This is an important sign that the second largest crypto asset is ready to compete with Bitcoin at all levels.
Interest in Ethereum has already grown over the past few months – says the analyst of SafeTrading. The demand for Ethereum from organizations arose immediately after Bitcoin.
Market experts, who believed the token still had a long way to go, also showed increased interest in the token.
Announcing that he recently sold all of his bitcoins, CNBC’s Jim Kramer revealed that he switched to Ethereum in a new interview:
I started buying more Ethereum. I think Ethereum will be able to avoid these blows from China. If Bitcoin fell even more and China changed its policy, I would say positively about Bitcoin, but this is not the case.
However, it should be noted that not all expectations are optimistic. According to CoinShares’ Weekly, Digital Asset Funds Flows report, there has been a record $ 50 million outflow of Ethereum investment products. This shows that institutions are unsure about Ethereum’s next move.