Ethereum
Ethereum-based altcoins are up 100% in this bull market!
The market leader, Bitcoin Price recorded a correction of more than 2% over the last day. On the other hand, the leader of altcoins, Ethereum Price posted positive price action adding around 0.10% with a trading volume of $15.304 billion.
However, major ETH-based tokens have shown strong bullish price action in their respective portfolios over the past 24 hours, indicating growing investor interest in these altcoins.
Let’s go ahead, in this article, we have covered the top 3 Ethereum-based altcoins that have the potential to register a surge of up to 100% in the coming months.
Action on injection prices (INJ):
With sentiment growing increasingly bullish within the crypto space, the Injectable price has registered a 2.12% increase in the last day with a trading volume of $133.51 million. Furthermore, it has increased by 33.36% in the last week and by 24.21% in the last 30 days.
TradingView: INJ/USDT
In addition, the INJ Awards has been constantly evolving in a descending channel pattern on the 1D timeframe since mid-April.
The 50/200-day EMA and Moving Average Convergence Divergence (MACD) indicators have each shown a steady increase in bullish sentiment, indicating a positive outlook for Injective price over the coming weeks.
If the market continues to move under a bullish influence, the Injective cryptocurrency will prepare to test its resistance trendline of the channel pattern. Conversely, a bearish price action could pull the Injective coin price towards its lower support level of $22.05.
Beam course (BEAM):
Despite a 4.19% correction over the past day, Beam’s price has increased by 22.36% over the past week. Moreover, with a market cap of $876.724 million, this altcoin has secured the 76th position in the global cryptocurrency list.
TradingView: BEAM/USDT
The Relative Strength Index (RSI) continues to hover near its midpoint, with its average trendline showing bullish action. Additionally, the SMA indicator is consistently acting as a support for the price chart in the 1D time frame. This highlights an increased positive influence for the BEAM price.
If the bears dominate the cryptocurrency market, the Beam coin price will retest its crucial support level of $0.0135. However, if the bulls regain momentum, the BEAM coin price will head towards its upper resistance level of $0.0289 in the coming time.
Ethena (ENA) price evolution:
With a drop of around 1% over the last day, the Ethena Price continues to hover near its important resistance level of $0.525. Moreover, with a market cap of $793.138 million, ENA price is currently listed at #84.
TradingView: ENA/USDT
The RSI indicator continues to hover near its neutral point in the 1D time frame. Additionally, the MACD has registered a steady green histogram with its averages displaying a bullish pattern. This indicates increased buying pressure for the ENA crypto in the market.
If the market pushes the ENA Prize Above its resistance level of $0.525, the bulls will regain their momentum and prepare to test its higher resistance level of $0.750 this month. However, bearish price action could lead this altcoin to test its low of $0.30.