- Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and XRP have been tipped for success in the much-anticipated bull market.
- SOL, for instance, has been predicted to break key resistance levels to hit $2000 or more.
The crypto market is gearing up for a bull season as the Altcoin Index makes a steady comeback to 29/100. According to our market data, the total market valuation has also increased by 1.4% to $3.4 trillion.
Bitcoin (BTC) is attempting another rally to break its all-time-high price at $111k, while the altcoins prepare to follow accordingly. With analysts highlighting that the spotlight could certainly be on several tokens, CNF believes that four of them may dominate headlines. They are Ethereum (ETH), XRP, Binance Coin (BNB), and SOL.
Ethereum (ETH) Price Analysis
ETH was trading at $2,571 at press time and had printed impressive gains across all the major trading sessions. Traders seem to be gaining confidence in the asset as the trading volume makes a resounding surge of 25% to $14 billion.
However, Ethereum is losing its dominance and position to layer 2 networks like Polygon, Arbitrum, and Optimism. According to data, its 91% market share of the Decentralized Finance (DeFi) ecosystem in February 2021 has significantly reduced to 53.68%, underscoring the emergence of faster and cheaper alternatives.
Regardless of these concerns, renowned industry players have tipped ETH to outperform the majority of altcoins in the bull market. As highlighted in our previous news article, the asset has been predicted to replicate a 2017 move that saw its value skyrocket from $6 to $1,400 by 2018.
Binance Coin (BNB) Price Analysis
As a utility token within the Binance ecosystem, BNB has shown the potential for an explosive upsurge, having been actively used for transaction fees, staking, and Binance Smart Chain projects.
Our data shows that BNB has been able to strongly hold above the $400 level on the 12-month chart despite the severe liquidations and pullbacks that hit the broad market.
At the time of writing, BNB was trading at $672 and had printed gains across four of the five major trading sessions.
Fascinatingly, analysts have tipped the asset to reach an unprecedented height during the bull market, with Standard Chartered estimating nothing less than a double of the current price, as discussed earlier.
XRP Price Analysis
Ripple’s recent partnerships, technical updates on the XRP Ledger, a potential XRP spot Exchange Traded Fund (ETF) approval, and its regulatory clarity could position it above several top assets in the upcoming bulk market.
According to our recent analysis, XRP could breach the $15 level, aligning with another projection that calls for a 5x surge from the current zone.
Solana (SOL) Price Analysis
Solana (SOL) has aligned itself for an explosive run with its rise in the DeFi and payment application sector. Compared to others, Solana has sub-second transaction time and a cheaper fee, making it attractive to projects seeking high-speed Ethereum alternatives.
Currently, the asset is showing some bullish signs, attempting to break above a crucial psychological level at $190. It has also recorded a 2% and a 10% surge on its daily and weekly charts to trade at $177 at press time.
As detailed in our last analysis, SOL has the potential to reach $2000 during the bull market, making it a strong contender for the top-ranked altcoin position by market cap.
