🚀 Crypto XRP, Ether, Solana, Cardano, Shiba Inu Primed For Gargantuan Explosion As Price Bottom Knocks

[Undefeated_Lamba]

As altcoins bounced back earlier today, popular crypto trader Michael Von De Poppe tweeted that the secondary crypto market may have recorded a bottom. He posted:

Image Source: X

Ethereum Moves Above $3k​

Alts were in the red for a better part of the last month as Ethereum fell below $3k and stayed there during this ordeal. However, the second-largest crypto by market capitalization recovered above the $3k resistance earlier yesterday.

Here is Ethereum’s performance in the last few weeks:

Image Source: TradingView

Ethereum started dropping its value in the buildup to May. The top altcoin was overrun by bearish sentiment at the start of the month and recorded an 8-week low on May 1. The bulls tried hard to force a recovery and recovered well above $3.2k on the 6th of this month, but they couldn’t sustain the move. The programmable blockchain network fell below $3k and stayed there for a while.

ETH languished around sub $3k levels for much of last week and has only started to appreciate strongly. The index is traded slightly above the $3k support-turned-resistance. So, when de Poppe suggests that the ETH/USD pair may have recorded a bottom, it could very well be valid.

Who Were Today’s Winners?​

However, altcoins weren’t the only ones that recorded a price uptick. You can argue that they piggybacked Bitcoin’s earlier rally, and the premier cryptocurrency outperformed ETH by posting a 7% increase.

Other big performers included Solana (SOL), Avalanche (AVAX), Shiba Inu (SHIB), and Uniswap (UNI, 8%), Cardano (ADA). Other alts also appreciated BTC but couldn’t replicate its success.

Is Another Altcoin Boom on the Horizon?​

While many analysts quickly predict another major altcoin season, it is important to point out that the market didn’t perform well enough to be considered a major game-changer. Only a handful of the top alts were able to outperform Bitcoin. Perhaps some altcoin promoters are engaging in FOMO to meet their ends.

However, a healthy short-term price increase cannot be ruled out for the secondary coin market. If Bitcoin and Ethereum continue to post modest gains and the former knocks on the doors of the $70k resistance once again, we will likely have a short-term spike. The incoming weekend is shaping up to have an interesting buildup as all eyes are on the altcoin charts.