The post Altcoins at the ‘Best-Buy’ Levels: Here are the Tokens to Pick Before the Spot Ethereum ETF Starts Trading appeared first on Coinpedia Fintech News
The crypto markets began the day on a positive note, with the SEC withdrawing their investigation into Ethereum 2.0. While Ethereum and Ethereum-based tokens have gained momentum, the other altcoins also seem to have geared up. The SEC has advanced a step ahead towards the acceptance of ETF and highlighted Ethereum as a ‘Commodity’.
Pepe (PEPE)
Pepe is one of the strongest tokens in the markets and regains strength in a very short time frame. Although the bears hinder the progress of the rally, the token manages to trigger a strong rebound in no time. The PEPE price has triggered a strong rebound after hitting the lower support and is expected to initiate a fresh upswing soon. The price remains within a bullish range and hence a 20% upswing is expected to outperform the bearish influence.
Toncoin (TON)
Being a little different from market trends, the Toncoin price initiated a massive bull run in the last few weeks of Q1, 2023. Regardless of the current market dynamics, the TON price has been forming consecutive higher highs and lows, indicating a significant strength among the bulls. Although the levels have dropped below the crucial ascending support, a strong rebound may follow with the launch of the ETH ETF.
Shiba Inu (SHIB)
Shiba Inu has dropped below the crucial support zone but is trying hard to reclaim the level with a minor rebound. However, the selling pressure does not appear to have perished and hence the token is expected to find new lows. Moreover, the SHIB price is facing an excessive volume squeeze, which may lead to a massive explosion and reclaim levels above $0.00002.
Ondo (ONDO)
Ondo is among the tokens that have been trading within an ascending parallel channel since the beginning. The token has been respecting the resistance and the low support since the start and hence is expected to rise northward. However, the technicals suggest the selling pressure has eased to a large extent and hence the start of a reversal may be imminent. Therefore, the ONDO price is expected to regain $1.6 and form a new ATH above $1.62 soon.
Render (RNDR)
Render price is heading towards the end of its consolidation phase as the bulls do not appear to have stepped in. The strength of the rally remains extremely low and as a result, the price may continue plunging until it enters the liquidity area. This may be when the buyers enter and try to mount significant buying pressure. However, the bearish clouds may continue to hover until the RNDR price does not reclaim $8.3, which may start a fresh ascending trend.
Fetch.ai (FET)
As the AI tokens have lost some traction, the FET price has fallen into a deep bearish well. However, with the launch of spot ETH ETF, the bullish strength is expected to revive and trigger a strong rebound. Here is when the FET price is about to mark fresh bottoms for the month and hence, a rebound may become imminent. However, the FET price may re-enter the bullish range after it reclaims the important resistance at $1.8.
Most of these altcoins have been facing extreme bearish pressure as the selling pressure has accumulated to a large extent. With the SEC squashing their investigation, these tokens have gained some strength and if the spot ETH ETF begins to trade, these tokens, along with ETH price, are expected to trigger a fresh upswing.