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Best Ethereum-Based Tokens to Buy in July!
The cryptocurrency market started the month of July on a strong bullish note, adding over 4% to its global valuation in the last 24 hours. Furthermore, the altcoin leader, Ethereum Pricehas regained momentum and jumped 3.26% in the last day.
Following their footsteps, ETH-based tokens have shown a similar trend, gaining significant value in their respective portfolios. With the rising bullish sentiment, will these altcoins overtake the major cryptocurrencies this month?
Let’s get started, because in this article, we have covered the price analysis and long-term targets of the top 5 Ethereum-based altcoins that have the potential to post significant gains this month as the market sentiment has turned bullish.
OriginTrail (TRAC):
After successfully retesting its $0.60 support level, TRAC price successfully regained momentum and recorded a 10.82% jump in the past day with a +63.98% change in its trading volume. Additionally, the altcoin is up 30.79% in the past week and has a YTD return of 17.05%.
The technical indicator, MACD, shows a steady rise in the green histogram, indicating an increase in buying-selling pressure in the cryptocurrency space. In addition, the averages are showing a positive trend, suggesting that the price will continue to gain value in the near future.
Moreover, the simple moving average (SMA) is consistently acting as a support to the price chart in the 1D time frame, suggesting an increasing bullish sentiment for the TRAC coin price.
If the market holds OriginTrail price above the $0.770 support level, the bulls will regain momentum and prepare to test its upper high of $1.132. On the contrary, a bearish reversal could push TRAC price towards its low of $0.60 this month.
PepeCoin (PEPECOIN):
Launched on the Ethereum chain on April 15th following the memecoin craze by pioneers and visionaries in the year 2016. This project introduced an entertainment operating system-style app ecosystem. This integrates DeFi, gaming, unique NFT experiences, and cutting-edge memetics.
With a trading price of $3.52, a circulating supply of 115,752,038 PEPECOIN, and a total supply of 133,769,419 PEPECOIN tokens, this altcoin has secured the 208th position in the global cryptocurrency ranking with a market capitalization of $407.441 million.
Positively, memecoin has seen a 7.64% jump in the last day with a trading volume of $4.64 million. Furthermore, it has added 27.26% in the last week. Despite seeing a 35.62% decline in the last 30 days, it has experienced a YTD return of 386.20%.
Beam (BEAM):
Amidst increased price volatility in the cryptocurrency space, BEAM cryptocurrency has seen a jump of around 10% in the past day with a 100% increase in its trading volume. Furthermore, the altcoin has added 6.60% in the past week, indicating a growing bullish sentiment in the cryptocurrency space.
The Relative Strength Index (RSI) has successfully retested its oversold range, resulting in a strong increase in the altcoin’s price chart. Additionally, the average has been experiencing a bullish curve, suggesting a positive outlook for BEAM price this week.
If Beam coin price continues to trade under bullish sentiment, it will prepare to test its upper resistance level of $0.028330. However, in case of a bearish reversal, the altcoin will decline towards its crucial support level of $0.013911.
SafePal (SFP):
SafePal is a cryptocurrency wallet launched in 2018 with the primary goal of helping its users secure and grow their digital assets. Powered by the BNB Smart Chain (BEP20), SafePal provides both software and hardware wallets, all paid for and managed through the SafePal app.
Its native token “SFP” has shown bullish price action since the beginning of the year, indicating a bullish sentiment for the altcoin in the market. Specifically, it has added 17.02% in the last seven days and has a Year-to-Date (YTD) return of 10.84%.
UNCX Network (UNCX):
Despite seeing a drop of about 1% in its trading volume, UNCX price has added 4.12% to its portfolio in the past day and 5.33% in the past seven days. Furthermore, the altcoin is up 6.92% in the past 30 days and 43.57% this year.
The 50-day EMA is acting as a support to the UNCX price chart in the 1D time frame, suggesting a strong bullish sentiment for the altcoin in the cryptocurrency market.
On the other hand, the technical indicator, MACD, shows a steady decline in the red histogram. Also, the averages show a potential bullish convergence in its price chart, suggesting a positive outlook for the altcoin this week.
Assuming that the bulls continue to dominate the cryptocurrency market, UNCX Network price will prepare to test its upper resistance level of $396.5 this month. Conversely, if the bears overpower the bulls, UNCX cryptocurrency will plummet towards its low of $311.