Altcoins
Top Altcoins Soar 2-5X After Ethereum ETF Launch Today!
With the Ethereum ETF listing just hours away, the cryptocurrency market has seen increased price volatility, with major tokens seeing constant fluctuations in their respective portfolios.
Read on because in this article we have covered the top 3 altcoins that are heavily influenced by the price of Ethereum and are expected to show huge volatility in their respective valuations after the launch of the Ethereum ETF.
JasmyCoin (JASMY):
JASMY coin has attracted considerable attention from the cryptocurrency market in recent months. This has led to it adding over 320% to its valuation this year alone. Notably, with a market cap of $1.363 billion, it has secured the 63rd position in the global cryptocurrency list.
TradingView: JASMY/USDT
The 50-day EMA is acting as a support for Jasmy price. On the other hand, the Relative Strength Index (RSI) has fallen sharply towards the neutral point. Moreover, its average shows a potential bearish convergence in the 1D time frame, suggesting uncertainty in the future price action.
If the market regains momentum after the Ethereum ETF listing, JasmyCoin price will break its resistance level and head towards its higher high of $0.03850. On the contrary, if the bears continue to dominate the market, JASMY cryptocurrency will retest its low of $0.02450.
Beam (BEAM):
Despite seeing a correction of over 2% in the last day, BEAM price has increased by 12.93% in the last week and 10.12% in the last 30 days. With a YTD return of 4.89%, this altcoin has secured the 72nd spot with a market cap of $929.59 million.
TradingView: BEAM/USDT
The Moving Average Convergence Divergence (MACD) shows a steady decline in the green histogram, highlighting a decline in the altcoin’s price action in the market. Additionally, the averages are flat, suggesting weak buying and selling pressure for Beam price.
If the market moves under bullish sentiment, BEAM coin price will prepare to test its upper resistance level of $0.028910. However, if the bears overpower the bulls, this altcoin will plummet towards its crucial support level of $0.013525.
AI Node (GPU):
With the increased price volatility in the cryptocurrency space, Node AI price has added over 42% to its portfolio in the last seven days and 29.27% in the last 30 days. Also, with a trading value of $1.0591 and a market cap of $96.52 million, it has secured the 385th position.
TradingView: GPU/USDT
The MACD and RSI technical indicators are showing a steady decline on their respective charts, highlighting a weak bullish sentiment for the Node AI price in the cryptocurrency market.
With a bullish reversal in the cryptocurrency market, GPU price will prepare to test its upper resistance level of $2.0725. On the negative side, if bears dominate the cryptocurrency space, GPU coin price will plummet towards its low of $0.7975.