Many cryptocurrencies, including Bitcoin and Ethereum, are systematically testing and pushing new resistance levels amid the current market rally. This created an opportunity for lesser-known altcoins to increase in value. In particular, altcoin projects with solid fundamentals and promising technical indicators attract attention. Ongoing developments in underlying blockchain architectures are contributing to this optimistic sentiment in the investment community. Crypto expert Elmaz Sabovic has selected 3 altcoins with profit potential for the coming week.
First ranked altcoin: Cardano (ADA)
Cardano (ADA) has experienced a significant increase of 50.74% year-to-date. The past month alone saw a positive change of 51.19%. This increase is attributed to increasing demand for its native token, which investors can stake in exchange for staking rewards. According to data from StakingRewards, ADA ranks third among cryptocurrencies in terms of Staking Market Value. The Cardano network has a total staked value of $8.49 billion as of November 17.
ADA is currently trading at $0.37. This marks a decline of 6.28% in the last 24 hours and 2.03% in the past week. However, it has increased by a notable 51.19% over the previous 30 days.
Cardano 1 month price chartRipple (XRP) comes in second place
Among this week’s three picks, XRP (XRP) has the highest market cap. The altcoin performed strongly in the previous month. CryptoinsightUK analyst predicts a potential rapid rise triggered by short closure and stop-loss triggers if XRP breaks above the descending trend line. Despite an inaccurate time frame forecast, the bullish sentiment and the need to cover leveraged shorts support the expectation of a rapid increase to the $0.89 to $1.35 target range based on his post on November 17.
Possible XRP price target range. Source: CryptoinsightUKAt the time of writing, XRP is trading at $0.62, showing a decline of 4.28% in the last 24 hours. However, it experienced an impressive monthly positive change of 26.07%.
XRP 1 month price chartLast ranked altcoin: Polygon (MATIC)
As you follow from Kriptokoin.com, MATIC has shown a significant increase in its price in the previous 30 days. Thus, it stands out as another strong performance. During this period, the altcoin price increased from $0.51 to $0.83. Meanwhile, on November 15, Polygon’s Proof of Stake (PoS) system processed 6.17 million transactions. Thus, it reached the highest daily trading volume since October 2021. Today in Polygon highlighted this development with a post.
Amount of transactions performed on Polygon PoS on November 15. Source: Today in PolygonThis underlines the token’s positive sentiment and growing investor optimism. At the time of writing, the altcoin price is at $0.85. This reflects a decrease of 6.85% in the last 24-hour period. This contrasts with an impressive 30-day uptrend of 63.32%.
MATIC 1 month price changeThe opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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