It seems that the sky is the limit for Ethereum (ETH). The second largest cryptocurrency by market value broke a new historical record early on Monday and reached $ 4,165.
When quoted in reais, the price is equivalent to R $ 21,774. In 2021 alone, the cryptocurrency has already appreciated more than 470%, considering that it was traded at US $ 730 on January 1.
The performance is remarkable, but this may not be the best time to buy the cryptocurrency. At least that’s what cryptocurrency analyst Michaël van de Poppe says.
According to him, the ETH price chart has become vertical and is still not giving a chance to buy.
“Know that, simply, this is not the entry point into Ethereum. Now, in ETH, you can define the entry levels. But, secondly, you need to look for something that has not become vertical. So, you need to look for old or high market value cryptocurrencies that are ready for a high like Ethereum. ”
In this sense, van de Poppe pointed out that Stellar (XLM) can make good profits for investors.
Stellar (XLM) only needs to break a resistance
According to the analyst, the 13th largest cryptocurrency in market value, Stellar (XLM), can follow in Ether’s footsteps.
That’s because altcoin has already tested its resistance zone several times, and is ready to start a bullish period.
As van de Poppe noted, if Stellar manages to overcome the $ 0.88 resistance zone, it can appreciate up to $ 1.24 – even reaching $ 1.63.
Thus, when quoted in reais, the cryptocurrency may cost up to R $ 8.50 in the analyst’s forecast.
At the time of writing, XLM is currently trading at $ 0.71. That is, R $ 3.70, when quoted in reais.
In the last 24 hours alone, the price of Stellar has varied 20% positively. In the last 7 days, the valuation exceeds 30%.
Other cryptocurrencies may continue to rise
Still according to van de Poppe, there are three other cryptocurrencies that can also make profits in the short term.
He specifically highlighted Litecoin (LTC), which broke its historic price record at $ 412 on Monday.
The analyst also said that Cardano (ADA) and Binance Coin (BNB) are doing very well. Both cryptocurrencies have set new price records as has Litecoin.
ADA reached $ 1.83 on Sunday (9), while BNB topped $ 690 on Monday.
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