When individuals ponder the term cryptocurrency, they might usually think of Bitcoin or Ethereum. This would make sense after all, as these are the two biggest cryptocurrencies in the world today, both in terms of price and market capitalization. As of the time of this writing, the prices for BTC and ETH are approximately $58,359 and $2,106, respectively.
However, while both Bitcoin and Ethereum certainly remain popular choices (ETH’s price, in particular, has skyrocketed as of late) and many individuals continue to regard them as the quintessential cryptocurrencies, these are, however, not the only options available to investors, and this article will therefore detail some of the available alternatives and the ones to look out for this week.
BNB (Binance Coin) has enjoyed a considerable amount of success as of late. It had managed to reach an all-time high on April 2nd before dropping down to $349. This would also seem to suggest the idea that bears had attempted to confine the bulls who were being aggressive.
Nevertheless, these bulls had ensured that the price would not break beneath the support amount of $315. This is beneficial to Binance as it shows the bulls to be accumulating on each minor dip and do not appear to be awaiting the arrival of any deeper correction before buying. If the price can be thrust upward via the bulls, then it might even go as high as $430.
Polkadot had managed to go above the previous downtrend line, also on the 2nd of April. Through this, DOT managed to reach an all-time high of $46.8 the very next day. This did, however, also result in profit booking as had been observed on the candlestick for that day.
The bears nevertheless could not manage to do anything further with the advantage granted to them. This was due to the bulls going ahead and buying at lower levels, thus culminating in the price going back to just over $42. Still, if the bulls manage to succeed in driving the price to over $46.8, then DOT could resume its uptrend and rally to its target of $53.5.
Currently ranked at #23 on the top cryptocurrencies in the world, EOS had shattered the overhead resistance mark of $5.6 and then subsequently closed on April 2nd at the $6.25 mark, which was also its all-time high close since the end of June 2019.
This displays the success that EOS has been experiencing amongst investors as of late, despite the fact that bears had decreased the price to beneath the $5.6 breakout level just a couple of days ago on April 3rd.