As the cryptocurrency market continues to heat up and show a bullish trend in recent weeks, keeping an eye on promising altcoins that could potentially make significant gains shortly is always a good idea.
However, the crypto market is currently saturated with several altcoins, so keeping tabs on every crypto in the market can be difficult. In this article, we’ve compiled a list of top altcoins to pay attention to over the weekend.
Top 3 Altcoins To Watch Over The Weekend
The top on the list is Cardano (ADA). Cardano is a blockchain platform that aims to offer faster, more secure transactions than traditional cryptocurrencies like Bitcoin. With a market cap of over $15 billion, Cardano is the fifth-largest cryptocurrency by market cap and has been making steady gains in recent weeks.
In addition to its strong fundamentals, ADA’s chart has been showing some bullish momentum, and according to the 1-day time frame, the asset still has a long way to go in the rally. On the chart, though the asset just tapped a major high, it still has external liquidity above the $0.5 region that needs to be taken.
The asset’s trading volume has also risen in the past 7 days, indicating an ongoing violet buying pressure. ADA’s daily trading volume has surged from $218 million as of last week Friday to $739 million over the past 24 hours.
Binance Coin (BNB) is the second on the list. BNB is a native token of the Binance cryptocurrency exchange and has been one of the top performers in the market over the past 30 days. With a market cap of nearly $52 billion, Binance Coin is currently the fourth largest cryptocurrency by market cap and has seen significant gains thanks to the success of the Binance exchange.
In addition to its strong performance, Binance Coin (BNB) seems closer to hitting an external high at $399. Though it’s not certain when the asset will hit this mark, with the crypto trading volume recording a surge in the past week, the tapping of the external high might be closer and could be worth watching out for over the weekend.
Polygon (MATIC) appears third on the list. Polygon is a Layer 2 scaling solution for Ethereum that aims to provide faster, cheaper transactions for users.
With a market cap of over $10 billion, Polygon is currently the seventeenth largest cryptocurrency by market cap. and has been making significant gains in recent months. In addition to its strong fundamentals, Polygon also benefits from the increased demand for Layer 2 solutions as the Ethereum network continues to face scalability issues.
MATIC hasn’t made any significant gains compared to other top altcoins in the crypto market. However, the asset price chart shows its time to outshine the others may just be closer. On the 1-day time frame, MATIC has formed a double bottom indicating an upcoming surge.
MATIC also seems to form a W pattern on the chart alongside the double bottom. These two setups have made MATIC an altcoin to watch over the weekend. Though, it’s worth noting that the cryptocurrency market can be extremely volatile, and there are no guarantees when investing in altcoins.
However, one could identify profit opportunities by examining projects like Cardano, Binance Coin, and Polygon. Moreover, while being an experienced investor or not, it’s worth noting to keep these altcoins on the radar over the weekend and beyond.
Featured image from Unsplash, Chart from TradingView