Altcoins
Best Altcoins to Stack as Ethereum ETF Launch Approaches!
With the increasing volatility in the cryptocurrency market, the Ethereum Price continues to hover above its $3,500 mark, highlighting an increase in bullish sentiment in the crypto space.
Moreover, with the Ethereum ETF listing set to begin in a few hours, the altcoin leader is expected to gain momentum and see strong bullish action, 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 register a massive surge in their respective portfolio after the launch of ETH ETF.
Ethereum Classic (ETC) Price Evolution:
Despite a correction of around 2% recorded over the last 24 hours, the Ethereum Classic Price has increased by 2.26% over the past week. Moreover, with a trading price of $23.49 and a market capitalization of $3.472 billion, this altcoin has secured the 27th position in the global cryptocurrency list.
TradingView: ETC/USDT
The 50-day EMA acts as resistance to the ETC Price chart in the 1D time frame. Additionally, the MACD indicator is showing a steady green histogram. This highlights the increasing price action in the crypto space.
If the bulls regain momentum, Ethereum Classic price will be gearing up to test its upper resistance level of $29 in the coming weeks. Conversely, 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 garnered considerable attention from the cryptocurrency market over the past few months, helping it add over 150% to its valuation this year. With a market cap of $861.161 million, it is currently trading at a 69.48% discount to 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 average has registered a bearish convergence on the 1D time frame, suggesting mixed sentiment for the altcoin in the cryptocurrency market.
If the market sees positive price action after the ETH ETF listing, ENS price will start trading under bullish sentiment. This could lead the altcoin to head towards its high of $32.50. However, bearish action could pull Ethereum Name Service price towards its low of $22.75.
Ethena (ENA) price evolution:
In a context of increased price volatility in the cryptocurrency market, Ethena Price fell by about 5% in the last day with a trading volume of $72.80 million. However, it added 9.09% in the last week, which helped it secure the 89th position with a market capitalization of $789.93 million.
TradingView: ENA/USDT
The RSI technical indicator failed to test its neutral point, with its average registering negative action. This highlights weak buying and selling pressure for the altcoin in the market.
The Moving Average Convergence Divergence (MACD) chart is showing a steady decline in the green histogram, with its averages showing neutral action. This indicates a decline in the price of Ethena.
If the market starts to move under a bullish sentiment, the ENA Prize 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.