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Analyst Predicts Cardano as Top Altcoin to Explode in 2021

Cryptocurrency Feb 28, 2021 11:30AM ET
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Analyst Predicts Cardano as Top Altcoin to Explode in 2021
 
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  • Analysts predict Cardano as the best altcoin to explode in 2021.
  • ADA prepares to launch Mary hardfork on March 1.
  • DOT, GRT, CAKE, and ETH are few other altcoins that have a great bullish trend.

Austin Arnold, a Youtuber on the channel ‘Altcoin Daily’ has made a few predictions on altcoins. In which Arnold thinks traders and investors should pay special attention to and keep on the radar for the year 2021.

Cardano on the Top Altcoin List

Analyst Arnold picked Cardano (ADA) as his first ranked cryptocurrency. However, the crypto has seen important gains of more than 300% within the past 30 days. Moreover, the Cardano team is also busy improving the interoperability of the project with other blockchain projects.

In addition, the platform is preparing to launch Mary hardfork. As per the announcement from Cardano (ADA) developers IOHK, the Mary hardfork will bring native tokens and multi-asset support to the blockchain on March 1, 2021. Even more, the project will have a positive impact on the price of ADA tokens.

According to CoinGecko, the ADA price is $1.26, at the time of writing.

ADA/USDT Price Chart (Source: TradingView)

  • Resistance Level 1: $1.37
  • Resistance Level 2: $1.62
  • Support Level 1: $1.14
  • Support Level 2: $0.83

The above chart shows the great performance of ADA. However, the price of ADA is predicted to reach over $1.6 in the next 7 days, as per the Fib. retracement level. Moreover, ADA reached a new all-time high price of over $1.48 on February 27, 2021.

On the other hand, Arnold added Polkadot (DOT), The Graph (GRT), Pancake (CAKE), and Ethereum (ETH) are some of the altcoins that have a great bullish trend in 2021.

Other Huge Potential Altcoins

According to Arnold, DOT, GRT, CAKE, and ETH are the other huge potential altcoin. However, these altcoins are expected to show great performance in 2021. In detail, the ETH surged to over 57% this month making a new ATH of $2,036.

Moreover, the DOT price sitting at $31.78 resulted in a 93% gain in the last 30 days. More so, the released roadmap of Polkadot projects will keep this promising crypto ecosystem in the eyes of the market.

This month the GRT price caused over 200% gains to its crypto holders at almost $1.61 per unit. Furthermore, GRT is the decentralized protocol for searching and indexing the information on different blockchains.

Besides, CAKE’s price is at $9.59 recording a 600% gain this month. Additionally, the token became the second-largest Dex platform. Finally, ETH is the last cryptocurrency that could provide huge gains in March with the launch of an ETP by CoinShares, calculated at $75 million.

Furthermore, analysts mention Uniswap, Filecoin, and Celsius as some of the best coins that will have a great bull run in the year 2021. Recently, the crypto market also shows bullish signals on the Lunar New Year 2021.

Continue reading on CoinQuora

Analyst Predicts Cardano as Top Altcoin to Explode in 2021
 

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