Ethereum

Convergence

Ondo

Strong

Divergence

The post <a href="https://coinpedia.org/price-analysis/these-ethereum-based-altcoins-to-dominate-the-bull-market/" rel="noopener noreferrer nofollow">These Ethereum-based Altcoins To Dominate The Bull Market?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the altcoin leader, Ethereum price holding its value above its important support level of $3,000, altcoins have started regaining momentum and have displayed a strong bullish price action this week.
Moreover, ETH-based tokens have recorded the highest gains, highlighting an increase in the investor’s interest in these altcoins to maximize their profits during the upcoming bull rally.
Let’s go as, in this article, we have covered the top 3 Ethereum-based altcoins that have the potential to record a massive uptrend in their respective portfolios during the coming time.
<h2 class="wp-block-heading" id="h-ldo-price-successfully-retests-its-crucial-support-level">LDO Price Successfully Retests Its Crucial Support Level:</h2>
With the rising volatility, the Lido Dao price has jumped 9% within the past 24 hours with a change of +9.23% in its trading volume to $116.80 Million. Positively, the altcoin is currently trading at a discount of 84.84% since its ATH, indicating a positive outlook in the long run.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXebzbli7uzB1YWkdgkUW6Dyc7O0xx1-aHzt4DTCXnlIUNfX_C7ysw4B6oK07hKVgcEgNCHEyHp_YQv6X5sopjnIZKcfD1s_GHM0nkHS53xWPtLyeEHGfPQJ24xU1oSlDEzAgD100I6d8Is_DIAVPvimx0PO?key=Ky14HDq8EwVkhhsOvAYtdg" alt="Lido Dao Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LDO/USDT
 </figcaption>
</figure>
The Simple Moving Average (SMA) has recorded a positive crossover in the 1D time frame, suggesting an increase in the buying sentiment for the Lido Dao crypto.
On the other hand, the MACD indicator displays a constant decline in its red histogram with a high possibility of a bullish convergence in its price chart. This suggests that the LDO coin price will continue gaining value this week.
If the market continues to gain momentum, the LDO crypto will head toward its upper resistance level of $2.625. However, a bearish reversal could result in this altcoin retesting its crucial support level of $1.50.
<h2 class="wp-block-heading" id="h-mantra-price-on-the-verge-of-recording-a-new-ath">Mantra Price On The Verge Of Recording A New ATH?</h2>
Despite recording a drop of approximately 1% within the past 24 hours, the OM price has jumped 17.19% over the last seven days. Notably, this altcoin has recorded a jump of 17.89% during the past four days, indicating a bullish rise for it in the crypto space.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXczunuQGuXGNnfyu5JVUB1lC5_GqjMGl_EotiBBsqXG5P4jVtt4eIJetSnBEvkrQo3VKJwkQmIgEhyVnI5SbzYjQQCQPIqMDyeq0fHtk7lsFrBMOI_kd9UTg_hp_3HS1dEICkIgJOOqkQDu1OZrpF2V_Bg?key=Ky14HDq8EwVkhhsOvAYtdg" alt="Mantra Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: OM/USDT
 </figcaption>
</figure>
The EMA 50-day constantly acts as a support to the Mantra price chart in the 1D time frame, suggesting a strong bullish sentiment for the altcoin in the crypto space.
The technical indicator, RSI, continues to hover close to its overbought range, highlighting increased price action. However, the average trendline hints at a potential bearish crossover, suggesting a mixed sentiment.
Suppose, the OM coin price continues trading under a bullish sentiment, in that case, the altcoin will prepare to achieve a new all-time high (ATH) by surpassing its $1.09 mark. Conversely, if the bears regain momentum, it will head toward its crucial support level of $0.6250.
<h2 class="wp-block-heading" id="h-ondo-price-displays-a-strong-bullish-reversal">Ondo Price Displays A Strong Bullish Reversal:</h2>
The Ondo price has successfully reclaimed the $1 mark after recording a low of $0.85 on the 9th. Positively, this altcoin has recorded a bullish price action for the 4th consecutive day and has added 16.659% to its portfolio during this time.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfr_U4rwn_PXPjITqPLJPxmd0CTxJxj8uuG5_o73sVRl1efm7MPvyoVNl3IS2DjQP35P7pLMGEjg_wcpyjvy7LLrOnXOTvwDeFUse1ZZ9nUQAZXkpYkUJBpqXkmOVFAue3KjcPDnxhejB7Z6KDdIKuCR7LT?key=Ky14HDq8EwVkhhsOvAYtdg" alt="Ondo Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ONDO/USDT
 </figcaption>
</figure>
The Moving Average Convergence Divergence (MACD) shows a constant increase in its histogram, highlighting an increase in the buying-over-selling pressure in the crypto market. Further, the averages display a potential bullish convergence, suggesting a positive outlook for the altcoin.
If the market holds the Ondo price above its support level of $0.98450, the bulls will regain momentum and prepare to test its upper resistance level of $1.47. Negatively, bearish price action could result in the Ondo coin price testing its low of $0.6970.

These Ethereum-based Altcoins To Dominate The Bull Market?

Table of Contents

CoinPedia News

Other articles published on Jul 11, 2024

Best Meme Coin Airdrops This Month : Don't Miss Out!

Binance Sheds Over 60% Stake from Gopax as South Korea Navigates New Crypto Laws

Bitcoin's (BTC) Scary Drop Might Be 'Weeks Away,' This Signal Says

The dYdX Foundation’s 2024 Semi-Annual Ecosystem Report Highlights Incredible Progress & Communit...

Best Performing New Crypto Projects for July 2024

How GoMining is revolutionizing Bitcoin mining through NFTs

Join our free newsletter for daily crypto updates!