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Crypto News: 3 Altcoins With Breakout Potential This Weekend
The cryptocurrency market has been witnessing a series of significant developments in recent times, and it appears that the momentum is expected to continue into the weekend. A close eye on three altcoins – Cardano (ADA), Lido DAO (LDO), and Ethereum Classic (ETC) – reveals promising technical indications that could potentially lead to substantial price increases.
Cardano (ADA)
One of the most widely discussed coins, ADA has demonstrated a significant upswing over the past week, with prices surging by 14.85%. Despite this impressive gain, it remains in a tight consolidation range around $0.8213. A decisive break above this level could potentially unlock a price target at $1.18.
Industry expert Marcus Cornivurus highlights that “a break and hold above $0.82 unlocks a $1.18 target,” offering hope for those who have been looking to buy into the project. The growing user engagement is also evident, with the Total Value Locked (TVL) on Cardano reaching $375.2 million, indicating 5.82% growth within a single day.
Cardano’s stablecoin market cap has reached an astonishing $32.42 million, further reinforcing its potential for a significant uptrend.
Lido DAO (LDO)
LDO, the governance token of Ethereum’s leading liquid staking platform, has taken a giant leap forward by jumping 29% within the past week. The protocol continues to dominate the liquid staking space with a strong market share, as well as an impressive Total Value Locked (TVL) of $32 billion.
The possibility of Lido expanding its services to other blockchain networks could potentially increase the token’s utility and appeal, which would be an enormous boon for those invested in ADA. With that in mind, traders should continue to keep a close eye on this project as it is likely to be a key player in the near future.
Ethereum Classic (ETC)
This cryptocurrency has been gaining traction over the past week with prices increasing by 33%. Its impressive performance has led to an influx of buying pressure. ETC is now aiming to break above the crucial resistance level of $28, which could unleash a potential for a major price increase.
It’s worth noting that the trading volume has seen a significant boost, up 139% to $1.04 billion, thereby increasing its market cap to $3.77 billion.
Source: www.crypto-news-flash.com
