Altcoins
Will These Ethereum-Based Altcoins Dominate the Bull Market?
With altcoin leader Ethereum holding its value above its important $3,000 support level, altcoins have started to regain momentum and have shown a strong bullish price trend this week.
Additionally, ETH-based tokens saw the highest gains, highlighting growing investor interest in these altcoins to maximize profits during the upcoming bull rally.
Let’s get started, because in this article we have covered the top 3 Ethereum-based altcoins that have the potential to see a huge uptrend in their respective portfolios in the near future.
LDO price successfully retests its crucial support level:
With rising volatility, Lido Dao price has jumped 9% in the last 24 hours with a +9.23% change in its trading volume to $116.80 million. Positively, the altcoin is currently trading at a discount of 84.84% from its ATH, indicating a positive outlook in the long run.
TradingView: LDO/USDT
The simple moving average (SMA) recorded a positive crossover in the 1D time frame, suggesting an increase in buying sentiment for the Lido Dao cryptocurrency.
On the other hand, the MACD indicator shows a steady decline in its red histogram with a high possibility of a bullish convergence in its price chart. This suggests that the price of LDO coin will continue to gain value this week.
If the market continues to gain momentum, the LDO cryptocurrency will head towards its upper resistance level of $2,625. However, a bearish reversal could lead this altcoin to retest its crucial support level of $1.50.
Is Mantra Price About to Set a New Record?
Despite seeing a decline of around 1% in the last 24 hours, the price of OM has jumped by 17.19% in the last seven days. Notably, this altcoin has seen a jump of 17.89% in the last four days, indicating a bullish upswing for it in the cryptocurrency space.
TradingView: OM/USDT
The 50-day EMA is consistently acting as a support for the Mantra price chart in the 1D time frame, suggesting strong bullish sentiment for the altcoin in the cryptocurrency space.
The technical indicator, RSI, continues to hover near its overbought range, highlighting increased price action. However, the middle trend line hints at a potential bearish crossover, suggesting mixed sentiment.
Suppose OM coin price continues to trade under bullish sentiment, in which case, the altcoin will prepare to make a new all-time high (ATH) by clearing its $1.09 level. Conversely, if the bears regain momentum, it will head towards its crucial support level of $0.6250.
Ondo price shows strong bullish reversal:
Ondo price successfully reclaimed the $1 mark after registering a low of $0.85 on the 9th. Positively, this altcoin has recorded bullish price action for the 4th consecutive day and has added 16,659% to its portfolio during this period.
TradingView: ONDO/USDT
The Moving Average Convergence Divergence (MACD) shows a steady increase in its histogram, highlighting an increase in buying-selling pressure in the cryptocurrency market. Additionally, the averages show a potential bullish convergence, suggesting a positive outlook for the altcoin.
If the market holds Ondo price above its support level of $0.98450, the bulls will regain momentum and prepare to test its upper resistance level of $1.47. On the negative side, a bearish price action could lead Ondo coin price to test its low of $0.6970.