Volatility was evident in the crypto market today, with both Bitcoin and Ethereum experiencing significant declines of 3.33% and 5.18% respectively.

Cardano (ADA) and Helium (HNT) also saw dips amidst the broader market corrections. Despite this, experts suggest that ADA and HNT may have the potential to outperform Ethereum in the upcoming month.

To further understand how the market will react to these changes, it is important to examine the price actions and whale activity in these two cryptocurrencies.

Ethereum's Potential Optimism With ETF Launch

As of now, Ethereum's price is facing a strong intraday selloff, moving away from the $3200 level and heading towards the $3000 rebound level with a drop exceeding 5% intraday.

The daily chart displays a breakdown of a bearish flag pattern and rejection from the 50-day exponential moving average. Although $3000 may provide some stability as a psychological level, there is a possibility of further downside movement.

Despite this, recent developments suggest a positive outlook for Ethereum with the launch of Bitcoin and Ethereum ETFs in Hong Kong. This news could potentially bring back the optimism in Ethereum and lead to better performance in the upcoming month.

Surge in Whale Transactions for ADA

On-chain data indicates an increase in transactions involving large amounts of ADA tokens, surpassing $100,000 in value. This surge marks the highest level of whale activity in Cardano since November 8th.

This surge in whale activity coincided with potential price reversals in ADA's market trajectory. The rise in whale activity followed a significant drop in Cardano's value by nearly 40% since March 13th, signaling a period of volatility and market adjustments.

Is HNT Poised For Success Next Month?

Helium (HNT) experienced a bounce back from the $3.65 lows, narrowly avoiding a death crossover. This crossover occurs when the 200-day EMA crosses over the 50-day EMA. However, a sudden surge in the price of Helium prevented this death cross from happening.

The price of Helium surged by nearly 52% in a week, opening up the potential for a rally. Moreover, the relative strength index (RSI) has entered the bullish zone and remains above the mean line, indicating positive momentum.

In conclusion, while the entire cryptocurrency market is facing a downturn, there are signs of potential recovery. Ethereum, Cardano, and Helium are all showing promising indicators that may lead to a positive performance in the near future.

Please note that any views expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies or stocks carries a risk of financial loss.