Cryptocurrency

Ethereum, Cardano, Dogecoin, AAVE, Elrond: Which Tiers Are Next?

Altcoins have accelerated their recovery by taking advantage of Bitcoin’s positive movement. In fact, some altcoin projects are showing signs of rally beyond recovery, outperforming other alternatives. We examine this list, which includes leading projects such as Ethereum and Cardano, with the comments of analyst Aaryamann Shrivastava… Let’s start with the general situation of the altcoin market…

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Analyst comments on the general situation of the altcoin market

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Cryptocoin. com, the altcoin market has managed to recover significantly in the past weeks. However, it is currently struggling to surpass its market cap of $790 billion. According to the analyst, we can talk about the $ 1 trillion altcoin market price with the breaking of this resistance. However, the leading altcoin projects, which we will examine shortly, need to get stronger.

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President altcoin Ethereum (ETH) gains precious momentum

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The biggest name in the altcoin market, Ethereum, has managed to get out of the almost 2-month precious downtrend. According to the analyst, it was valuable for ETH to retest the critical reinforcement of $2,042. After performing this test, Önder crypto continued his positive move by performing above expectations and broke the EQ line in the upper direction and set out for the goal of $ 3,000. Analyst Shrivastava states that once this area is turned into support, it is reasonable to reach the $3,000 top again.

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Analyst aim for Cardano (ADA) 1.5 dollars

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ADA performs much better than many of the other altcoins. Shortly after breaking the downtrend, it managed to reach higher highs around $1.4. However, in the early hours of July 4, this resistance was broken and ADA is now testing its strength in this region for a foothold. The analyst states that after breaking out of this zone, Cardano may jump to $ 1.5 in the next step.

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After Cardano (ADA): Dogecoin (DOGE)

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As the analyst pointed out, DOGE is currently being suppressed in a descending triangle with a bearish pennant composed of bears. Stating that $ 0.38 can be reached by breaking this resistance, the analyst adds that mostly pennants break the base and flags formations are formed. Therefore, according to another esteemed analyst, Scott Melker, DOGE needs to attack as soon as possible. Otherwise, compared to Melker, a lot of time will be spent in the region.

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Aave (AAVE)

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AAVE is the most positive name on the list. Again, if the asset, which gained positive momentum from the reinforcement zone it tested, manages to move away from its basis, it is ready for a bull run, according to the analyst, and can strengthen against BTC.

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Elrond (EGLD)

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Finally, Elrond is one of the many unknown projects of altcoins. However, if you look at the noticeable increase in its price, you can observe that it has gained a strong momentum in the last days. The analyst states that EGLD broke the falling wedge a few days ago and continues to test its footing with frequent high volumes. In the last days when the asset is on the rise, the first goal expected to be reached is $ 121, according to the analyst.

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