Altcoins
Best Altcoins to Accumulate as Ethereum ETF Launch Nears!
With the increasing volatility of the cryptocurrency market, Ethereum Price continues to hold above the $3,500 mark, highlighting an increase in bullish sentiment in the cryptocurrency sector.
Furthermore, with the Ethereum ETF listing just hours away, the altcoin leader is expected to gain momentum and enter a strong uptrend, possibly hitting the $4,000 mark this week.
Scroll down because in this article we have covered the top Ethereum based tokens that have a high potential to see a huge surge in their respective portfolios after the launch of the ETH ETF.
Ethereum Classic (ETC) Price Action:
Despite having recorded a correction of around 2% in the last 24 hours, the Ethereum Classic Price has gained 2.26% over the past week. Also, with a trading price of $23.49 and a market cap of $3.472 billion, this altcoin has secured the 27th position in the global cryptocurrency list.
TradingView: ETC/USDT
The 50-day EMA is acting as a resistance to the ETC Price chart in 1D time frame. Additionally, the MACD indicator shows a steady green histogram. This highlights an increasing price action in the cryptocurrency space.
If the bulls regain momentum, Ethereum Classic price will prepare to test its upper resistance level of $29 in the coming weeks. On the contrary, if the bears dominate the market, ETC coin price will retest its low of $22 this month.
Ethereum Name Service (ENS) Price Analysis:
ENS price has attracted considerable attention from the cryptocurrency market in recent months, resulting in a more than 150% increase in its valuation this year. With a market cap of $861.161 million, it is currently trading at a discount of 69.48% from its previous ATH of $85.69.
TradingView: ENS/USDT
The Relative Strength Index (RSI) continues to hover near its midpoint on the 1D time frame. However, the mean has converged bearishly on the 1D time frame, suggesting mixed sentiment for the altcoin in the cryptocurrency market.
If the market sees a positive price action following the listing of ETH ETF, ENS price will start trading with a bullish sentiment. This could lead the altcoin to head towards its higher high of $32.50. However, a bearish action could push Ethereum Name Service price towards its low of $22.75.
Ethena (ENA) Price Action:
Amidst increasing price volatility in the cryptocurrency market, Ethena Price It has fallen by about 5% in the last day with a trading volume of $72.80 million. However, it has added 9.09% in the last week to secure the 89th position with a market capitalization of $789.93 million.
TradingView: ENA/USDT
The technical indicator, RSI, failed to test its neutral point with its average recording a negative action. This highlights weak buying and selling pressure for the altcoin in the market.
The Moving Average Convergence Divergence (MACD) shows a steady decline in the green histogram with its averages showing neutral action. This indicates a decline in price action for Ethena price.
If the market starts trading with a bullish sentiment, the ENA Price will regain momentum and prepare to test its upper resistance level of $1,075 in the coming weeks. On the other hand, the altcoin could plunge towards its crucial support level of $0.375.