With bitcoin creeping within inches of $9,000 on Bitfinex a few days ago, it seems that all eyes are on the king of cryptocurrencies. While the digital coin looks bullish, we believe that it has topped off for now. Thus, it will serve you better to look elsewhere, specifically at ethereum, ripple (XRP), and cardano.
These three cryptocurrencies are showing unbelievable strength, and they are not getting the attention they deserve. Far too many traders are sleeping on ethereum. Some even bet that the cryptocurrency would fall below $100.
They fail to realize that ethereum has reversed its trend from a long-term perspective. During the week of May 13, the market broke out of a rounding bottom pattern with decent volume after taking out resistance at $200. The breakout effectively ended ethereum’s 16-month long bear market.