As the crypto industry prepares for a bull run, three cryptocurrencies are set to make headlines; Ripple (XRP), Ethereum (ETH), and Avalanche (AVAX) have gained huge attention ahead of the Q4 bull run. These projects offer innovative solutions and advanced technology, making them stand out as popular assets in the upcoming bull run.
Avalanche (AVAX) Continues to Show Promise
Avalanche (AVAX)’s recent price performance looks good, mainly thanks to key support levels and increased activity from large investors. The increase in Avalanche whale activity suggests that some high-net-worth investors are bullish on the token’s prospects. Avalanche recently broke above its 50-day simple moving average at $24.66, indicating short-term support and possible bullish momentum.
Avalanche is trading above its 200-day moving average. The altcoin has been performing well recently, with 17 of the past 30 trading days up, and a daily price increase of 57%. In addition, Avalanche has high liquidity, thanks to its large market capitalization. Analysts predict that Avalanche will break out in the upcoming bull run as the ecosystem continues to expand.
Can Ethereum (ETH) Sustain Its Recent Gains?
Bitcoin’s recovery led to a recovery in the cryptocurrency industry, with Ethereum’s price surging nearly 6% to $2,444. Despite Ethereum’s price increase, the key demand zone between $2,252 and $2,440 remained the focus.
Several key signals suggest that Ethereum’s price could fall. Ongoing geopolitical tensions, especially the conflict between Iran and Israel, could weigh on Ethereum’s performance. Additionally, the MVRV ratio over the past year is currently -14%, indicating a lack of capitulation, meaning further declines could be imminent.
Recent trends show a decline in whale trading volume, which suggests that institutions are reluctant to buy Ethereum at current levels. In addition, the increase in the amount of Ethereum held on exchanges may indicate a possible decline in prices in the future. The lack of new capital inflows also reflects investors' disinterest in the existing price range.
Ethereum has risen 5.70% in the past 3 days to $2,449. However, the short-term outlook for the cryptocurrency appears uncertain as on-chain indicators show selling pressure, which could trigger an unexpected sell-off among investors.
Ripple (XRP)
Ripple uses decentralized blockchain technology to facilitate cheaper and faster cross-border payments. Unlike traditional blockchains that rely on PoW or PoS mechanisms, Ripple uses a unique consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA). The XRP cryptocurrency is the native token of the XRP Ledger and the bridge currency within the Ripple network. XRP facilitates seamless value exchange between different fiat currencies.
The price action of Ripple (XRP) has been sideways over the past few months. In the past 24 hours, XRP is down 2.27% and is trading at $0.5267. Currently, Ripple (XRP) is trading below the 50-day DMA and very close to the 200-day DMA. The RSI (Relative Strength Index) of Ripple (XRP) is 38.3 and is declining towards the underbought zone.
