Chart of the Day - Friday, August 20th, 2021

Today’s Chart of the Day was shared by Pratyush Tulsian (@PrattyCharts). The chart shows three altcoins over the past year. On top, is the 3rd largest Cryptocurrency, Cardano ($ADAUSD). In the middle, is the 10th largest cryptocurrency, Solana ($SOLUSD). On the bottom, is the 55th largest cryptocurrency, Helium ($HNTUSDT). Pratty points out that all three of these altcoins look poised for another leg higher. As you can see, they're all breaking out of multi-month bases within strong longer-term uptrends. Crypto held up relatively well this week despite a risk-off tone in the equity markets, and eight-month highs in the US Dollar. You'd expect Cryptocurrencies to struggle in that sort of environment, but they didn't. Quite the opposite actually. That sort of resilience is a testament to how strong the underlying trend is at the moment.