With the official statement and the signing of the crypto executive order by Donald Trump, the cryptocurrency market has experienced a strong bullish U-turn. The altcoin segment recorded the highest attention, resulting in the rising speculations of the fast-coming altcoin season.
Considering the present market sentiments, investors are curious with questions like “Is this a good time to invest in altcoin?” and “Top altcoins to watch this altcoin season?” In this article, we have uncovered the possible short-lived price analysis of the top Ethereum chain tokens.
Ethereum (ETH)
After recording a bearish action for the past week, the ETH price has recorded a strong bullish recovery today. Notably, with a trading volume of $35.198 billion, this altcoin has jumped 4.79% in valuation. With this, it has a market cap of $407.17 billion and a dominance of 11.28%.
The Relative Strength Index (RSI) constantly hovers around the neutral point in the Ethereum price chart. Notably, the average trendline acts as a support, highlighting an increase in the bullish price action.
If the crypto market favors the bulls, the ETH coin price will break out of its resistance trendline and head toward its upper high of $3,700. However, a bearish reversal could pull the Ethereum token toward its low of $3,100 this month.
Planning to stack more ETH tokens this altcoin season? But concerned about its long-term possibilities? Read CoinPedia’s Ethereum Price Prediction!
Ethereum Classic (ETC)
The Ethereum classic price has maintained its positive price action by adding 6.67% in 24 hours. Moreover, this altcoin has soared ~14% this year and has a market capitalization of $4.288 billion. This has resulted in it securing the 34th position.
The Moving Average Convergence Divergence (MACD) shows a steady rise in the green histogram with its averages recording an upward trajectory. With the EMA 50/200-day experiencing a similar price trend, the Ethereum Classic price may continue gaining value this month.
Maintaining the price above its support level of $28 could set the stage for this altcoin to surge toward its resistance level of $33.50. On the contrary, if the bears outrun the bulls, this could result in the ETC price retesting its low of $22.50.
Are you curious to find out if the ETC crypto token will reach $100? Read our Ethereum Classic Price Prediction to explore the long-term price action!
Ethereum Name Services (ENS)
The ENS price has secured the position in the daily top gainers list with a jump of 10.86% and a trading volume of $257.747 million. Moreover, it has jumped 3.12% in seven days and 4.87% this year. This suggests an increase in the positive influence of the altcoin in the market.
The Simple Moving Average (SMA) acts as a support to the Ethereum Name Service price chart. Furthermore, the RSI indicator shows a bullish rise above the neutral point. This indicates increased buying-over-selling pressure for the ETH-based token in the market.
A breakout in the symmetric triangle could lead the ETC price toward its upper resistance level of $50 in the coming time. Conversely, a bearish rejection could result in it dropping toward its immediate support trendline of $31 this month.
To understand the fundamentals and long-term price vision of this altcoin, read CoinPedia’s Ethereum Name Service Price Prediction!
FAQs
With increased adoption in the real world, the ETH coin price could reach a maximum trading price of $15,575 by 2030.
For the largest altcoin to reach this milestone, it will require a surge of 2,853.88% in its current valuation.
If the bullish sentiment sustains, the Ethereum Classic price will hit a high of $55 this year.
At the time of writing, the value of one Ethereum Name Service price was $36.12.
Considering the historic market sentiments, an AltSeason typically lasts for about 3 months.
