After a series of drops, the crypto market seems to have hit the bottom, with bitcoin stabilizing around $6000. There is every indication that the number of sellers in the market are declining as most investors prefer to HODL. This means that next week we could see a possible upside break in the crypto market. If the market breaks to the upside, there are three cryptos that are likely to lead the surge and that’s Ethereum, Vechain and Tron (TRX).
Ethereum (ETH) has been paired with the USD on Bittrex. This is guaranteed to drive a surge in Ethereum volumes in the United States in coming days. As more exchanges continue to pair Ethereum with fiat, it could easily decouple with bitcoin, which is what most investors are aiming for. Besides, Ethereum has some very strong fundamentals that would push its value quite high, if it weren’t for bitcoin’s market dominance. A confluence of all these factors could see Ethereum push up to over $700 next week. It could even perform better if there is a rebound in the entire market. Investor sentiment in Ethereum is quite high at the moment too. In the last 24 hours, Ethereum has been mentioned around 352 times on different online forums. Out of those mentions, 73% of them are positive, an indicator that bullish momentum is building up around Ethereum.
The other crypto that stands a good chance to perform well next week is Vechain (VEN). Vechain will be launching its main net in 7 days, and as we approach this day, there will be lots of interest in this crypto. This will drive in money into Vechain, and push up its price as we approach D-Day. Another key factor that will drive up Vechain is the fact that Binance will be supporting its main net. Binance has some huge daily volumes, and the fact that they are supporting the Vechain main net launch, means that there will be intense volumes of Vechain moving on Binance in the coming week. Another factor that will support Vechain next week is the fact that the crypto market is still bearish, and investors will be scouting for cryptos, which have good news coming up, and Vechain fits the bill.
The last crypto that looks set to make some good moves next week is Tron (TRX). With news about the super representative election dominating Tron news at the moment, investor interest is bound to be high. Besides, a look at the charts shows that Tron (TRX) makes for a good buy. From TA, Tron (TRX) is trading at a major support level, and is likely to draw in short term buyers in weekly trading. The market sentiment around Tron (TRX) is very bullish too. In the last 24 hours, Tron (TRX) has been mentioned around 70 times on different online forums, and out of those over 77% are positive. That’s good sentiment to draw in short-term buyers and drive up the price.