Altcoins
Ethereum-Based Altcoins Up 100% In This Bull Market!
The market leader, Bitcoin Price has seen a correction of more than 2% in the last day. On the other hand, the leader of altcoins, Ethereum Price recorded a positive price trend, increasing by about 0.10% with a trading volume of $15.304 billion.
However, major ETH-based tokens have shown a strong bullish trend in their respective wallet prices over the past 24 hours, indicating growing investor interest in these altcoins.
Let’s get started, because in this article we have covered the top 3 Ethereum-based altcoins that have the potential to rally up to 100% in the coming months.
Injection Price Action (INJ):
With the sentiment increasingly bullish within the crypto space, the Injection price It has jumped 2.12% over the past day with a trading volume of $133.51 million. It has also increased by 33.36% over the past week and by 24.21% over the past 30 days.
TradingView: INJ/USDT
Furthermore, the Price INJ It has been consistently trading within a descending channel pattern in the 1D time frame since mid-April.
The 50/200-day EMA and MACD (Moving Average Convergence Divergence) indicators have both shown a steady increase in bullish sentiment, indicating a positive outlook for the injection price in the coming weeks.
If the market continues to trade under a bullish influence, Injective cryptocurrency will prepare to test its resistance trend line of the channel pattern. Conversely, a bearish price action could push Injective coin price towards its lower support level of $22.05.
Beam (BEAM) Price Action:
Despite seeing a correction of 4.19% in the last day, Beam price has increased by 22.36% in the last week. Moreover, with a market capitalization of $876.724 million, this altcoin has secured the 76th position in the global cryptocurrency list.
TradingView: BEAM/USDT
The Relative Strength Index (RSI) continues to hover near its midpoint with its average trendline showing bullish action. Additionally, the SMA indicator is consistently acting as a support to the price chart in the 1D time frame. This highlights an increased positive influence for the BEAM price.
If bears dominate the cryptocurrency market, Beam coin price will retest its crucial support level of $0.0135. However, if bulls regain momentum, BEAM price will head towards its upper resistance level of $0.0289 in the near future.
Ethena (ENA) Price Action:
Down about 1% in the last day, the Ethena Price continues to hover near its important resistance level of $0.525. Furthermore, with a market capitalization of $793.138 million, ENA price is currently trading at 84th position.
TradingView: ENA/USDT
The RSI indicator continues to hover near its neutral point in the 1D time frame. In addition, the MACD has recorded a steady green histogram with its averages showing a bullish pattern. This indicates increased buying pressure for the ENA cryptocurrency in the market.
If the market pushes the ENA Price above its $0.525 resistance level, the bulls will regain momentum and prepare to test its upper $0.750 resistance level this month. However, a bearish price action could lead this altcoin to test its low of $0.30.