Altcoins
Will These Ethereum-Based Altcoins Dominate The Bull Market?
With altcoin leader Ethereum price maintaining its value above its important $3,000 support level, altcoins have started to regain momentum and have posted strong bullish price action this week.
Additionally, ETH-based tokens saw the highest gains, highlighting an increase in investor interest in these altcoins to maximize their profits during the upcoming bull rally.
Let’s get to it, in this article, we have covered the top 3 Ethereum-based altcoins that have the potential to register a massive uptrend in their respective portfolios in the coming years.
LDO price successfully retests its crucial support level:
With the increasing volatility, Lido Dao price has surged by 9% in the last 24 hours with a +9.23% change in its trading volume to $116.80 million. On the positive side, the altcoin is currently trading at a discount of 84.84% from its ATH, indicating a positive long-term outlook.
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 crypto.
On the other hand, the MACD indicator is showing a steady decline in its red histogram with a strong possibility of bullish convergence in its price chart. This suggests that the LDO coin price 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.
Mantra Price About to Record New ATH?
Despite dropping by around 1% in the last 24 hours, the price of OM has surged by 17.19% in the last seven days. It is worth noting that this altcoin has seen a jump of 17.89% in the last four days, indicating a bullish move for it in the crypto space.
TradingView: OM/USDT
The 50-day EMA is consistently acting as support for the Mantra price chart in the 1D time frame, suggesting a strong bullish sentiment for the altcoin in the crypto space.
The RSI technical indicator continues to hover near its overbought zone, highlighting an increase in prices. However, the average trendline hints at a potential bearish crossover, suggesting mixed sentiment.
Let’s assume that the OM coin price continues to trade in a bullish mood, in which case, the altcoin will be gearing up to hit a new all-time high (ATH) by breaking above its $1.09 mark. Conversely, if the bears regain momentum, it will head towards its crucial support level at $0.6250.
Ondo price shows strong bullish reversal:
Ondo price managed to regain the $1 mark after registering a low of $0.85 on the 9th. On the positive side, this altcoin registered bullish price action for the 4th consecutive day and added 16.659% to its portfolio during this period.
TradingView: ONDO/USDT
The Moving Average Convergence Divergence (MACD) is showing a steady increase in its histogram, highlighting an increase in buying over selling pressure in the cryptocurrency market. Moreover, the averages are displaying a potential bullish convergence, suggesting a positive outlook for the altcoin.
If the market sustains Ondo price above its support level of $0.98450, the bulls will regain their momentum and prepare to test its upper resistance level of $1.47. Negatively, a bearish price action could lead Ondo coin price to test its higher low of $0.6970.