Cardano price has gone parabolic, delivering its biggest short squeeze since 2021. ADA jumped to a high of $1.2417 on Tuesday morning, up by over 284% from its lowest level in November, pushing its market cap to over $34 billion.
Cardano coin jumped after Donald Trump won the election, raising the possibility that the US will have a spot ADA ETF in 2025. Its rally also coincided with the rising crypto fear and greed index. So, here are some of the top Cardano alternatives that could generate 10x returns in this bull run.
Zilliqa | ZIL
Zilliqa is a top Cardano alternative that could generate strong returns if the ongoing crypto bull run continues. ZIL has already jumped by 178% from its lowest level in August and is trading at its highest level since April this year.
The bullish case for Zilliqa is the fact that it was once one of the most popular cryptocurrencies as investors cheered its innovation on sharding.
Sharding is a technology that increases a blockchain’s throughput by slashing blocks into smaller pieces known as shards. It has now been embraced by popular networks like Ethereum and Near.
Zilliqa price has formed a golden cross chart pattern as the 50-day and 200-day moving averages have crossed each other. Also, there are signs that it is attempting to form a cup and handle pattern whose upper side is at $0.04485, which is about 50% above the current level.
Therefore, the ZIL coin will likely have a strong bullish breakout as bulls target that level. A break above the upper side of the cup will point to more gains, possibly to the psychological level at $0.10, which is about 240% above the current point.
Gala Games | GALA
Gala Games is another Cardano alternative that could go parabolic in the next few weeks. It has already jumped by 215% from its lowest point this year.
Gala has moved to the strong pivot and reverse point of the Murrey Math Lines. Also, it has jumped above the 38.2% Fibonacci Retracement level, a sign that bulls are in control.
Gala has the momentum as the Relative Strength Index (RSI) and the MACD indicators have pointed upwards. Therefore, the Gala token may continue rising as bulls target the extreme overshoot point at $0.055, which is a few points below the 61.8% retracement point. A break above that level will point to more gains, possibly to the year-to-date high of $0.086, 98% above the current level.
MultiversX | EGLD
The MultiversX coin is another crypto coin that could generate 10x returns in the near term. Formerly known as Elrond, the token has jumped by over 112% from its lowest level this year.
Elrond has made a strong breakout above the green falling wedge pattern, a popular bullish sign. Notably, it is about to form a golden cross pattern, pointing to more gains. If this happens, the next level to watch will be at $77.98, its highest level on March 13. This price target is about 69% above the current level.
