All eyes have been recently on the world’s second-largest cryptocurrency Ethereum (ETH) which is scheduled to undergo the Shanghai hardfork later today, April 12. On Monday, the Ether (ETH) price surged above $1,9000 showing bullish momentum ahead of the major upgrade.
Although the crypto community’s attention remain glued to Ethereum at this point, there are other altcoins with strong on-chain setup and are showing signs of a potential rally in the near term. Let’s take a look at each of them.
1. Ripple’s XRP
Ripple’s native crypto XRP has been holding above the $0.50 levels strongly as of now. Popular crypto analyst Ali Martinez explains that the XRP is on the verge of a breakout which could push it all the way to $0.080. Sharing the technical setup for XRP, he wrote:
As per the latest report, XRP whales have scooped more than 150 million XRP as Ripple drops a new proposal, dubbed Hooks, for the XRP Ledger.
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2. Polygon (MATIC)
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This is another altcoin to keep on investors’ radar for the time being. Polygon’s native crypto MATIC has registered a strong momentum recently with 33% gains year-to-date. The MATIC price continues to hold above $0.10. However, the MATIC price has corrected by nearly 33% since the peak of $.160 in mid-February.
But Ali Martinez explains that Polygon (MATIC) has seen strong accumulation recently. The analyst added:
3. Avalanche (AVAX)
Ethereum’s Layer-1 competitor Avalanche (AVAX) is up by more than 70% year-to-date and over 20% over the last month showing signs of upward momentum. The social volumes for AVAX have surged in recent times which could provide a catalyst for the AVAX price. On-chain data provider Santiment explains:
