Best Cryptos to Add to Your Portfolio Before Their Price Increases

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/Elluminex/ – As the broader crypto market undergoes correction after last month’s rally, few altcoins hint at another significant surge. Cardano (ADA), Ripple (XRP), and Elluminex (ELX) are the best among the altcoins that exhibit potential for another rally.

Let’s examine these altcoins to understand why market players should add them as a prospective investment.

Cardano (ADA) Continues Decline, Will It Reverse?

After months of consolidated price action, Cardano surged over 300% with the recent rally. However, when the price reached $1.32, a sudden increase in bearish pressure broke the upward momentum, and Cardano consolidated below the $1.24 resistance level for the next few days.

As Cardano lost demand, it experienced a massive intraday drop of over 15%, and the price moved below the short-term 10-day and 20-day SMAs. Cardano consolidated below the $1.12 price level but has now dropped to the 50-day SMA and takes support from it.

Cardano trades at $0.8539 at press time after a massive 12% decline in the last 24 hours. Despite this fall, the daily trading volume has remained the same today, indicating increasing demand. This demand could be from traders who expect Cardano to reverse from the 50-day SMA.

Will Ripple (XRP) Resume the Uptrend?

The XRP price, which traded inside a declining wedge pattern for more than a year, recently broke out of the upper trendline of this pattern with a massive rally in November. After the breakout, the price surged due to enormous demand, and XRP gained over 450% within a month.

With this rally, XRP broke its multi-year high and reached the $2.9 price level. However, it faced significant rejection from this level and plunged over 30% to $1.9 despite the massive momentum. XRP reversed from this support level and has traded in the $2.1-$2.6 range for over a week.

In the last 24 hours, the price has dropped 2.11%, and XRP trades at $2.31. It has immediate support at $2.22, immediate resistance at $2.35, and another one at $2.49. If demand returns, XRP can break out of these resistances and move out of the consolidation to start another uptrend.

Elluminex (ELX): Unleashing the Full Potential of DeFi

The DeFi market has evolved significantly over the past few years but is still riddled with numerous issues that must be addressed. People often face challenges of fragmented liquidity, high transaction fees, and complex interfaces that lead to difficulty and discourage potential investors from adapting to the decentralized economy.

Elluminex is determined to solve these issues and transform the DeFi sector into a more efficient and user-friendly environment that welcomes newcomers for sustained growth. It aims to be the first all-encompassing DeFi-hub on the TON blockchain and tap into its efficient network for its unmatched liquidity and transaction speeds.

Users generally have to navigate between multiple platforms to manage their digital assets, which causes inefficiencies and errors and exposes them to security risks. Thus, Elluminex is creating an all-in-one DeFi platform that enables them to trade, stake, farm, bridge, and track their portfolio.

The platform will offer users all the necessary DeFi functionalities under a single platform, improving efficiency and saving time. The platform will be integrated with the Elluminex DEX to offer advanced trading features like limit orders, LP trading, etc. with low slippage, high liquidity, and lightning-fast asset transfer speeds at minimal costs.

The cross-chain bridge will improve interoperability and ensure seamless asset transfer across different blockchains so users can efficiently manage all their assets and diversify without worrying about liquidity.

Elluminex will soon launch the presale for its native token, ELX, to build a community of DeFi enthusiasts and offer early buyers the opportunity to make exponential profits as the project grows to capture the DeFi market.

For more information about Elluminex (ELX) visit the links below:

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