【Analyst says that low market cap altcoins based on Ethereum look exceptionally strong】
A crypto analyst pointed out that the re-staking protocol Eigenlayer (EIGEN) on Ethereum shows a strong bullish trend. The analyst Altcoin Sherpa stated that EIGEN could continue to rise due to new technology and an upswing in market sentiment, currently with a fully diluted valuation of about $5.5 billion, lower than previous highs. According to his 12-hour chart, EIGEN shows a bullish pattern of 'higher highs and higher lows.' EIGEN is currently priced at $3.15, up 7.6% in 24 hours.
Additionally, the analyst mentioned that the token of the lending platform AAVE entered an upward trend after breaking the $170 resistance, and believes that if decentralized finance (DeFi) takes off, AAVE has more room to grow. AAVE is currently trading at $181, up 4.3% in 24 hours.
Finally, the analyst noted that the memecoin Pepe (PEPE) could potentially start a new wave of gains if it breaks the resistance at $0.00001084, currently trading at $0.00001067, with a rise of 7.5% in 24 hours.
