The U.S. Securities and Exchange Commission officially approved the Ethereum ETF application, which will begin trading on July 23, 2024. This is a historic day for the altcoin and cryptocurrency industry, which will increase the adoption of Ethereum and in turn increase the demand for $ETH.
While ETH prices may rise on pre-ETF hype, the bull case depends on net flows. Positive net flows could push ETH prices to nearly $5,000 this week.
In a bull run, smart investors will likely diversify their capital into other altcoins that stand to see better returns from the hype. So let’s take a closer look at our picks for three altcoins that are poised to see a 10x gain following the launch of the Ethereum ETF today.
MNT
The MNT price trend has seen a reversal rally from $0.625 with strong momentum following a descending channel breakout. Despite the recent death cross, the bullish bounce has surpassed the 200D and 50D EMAs, weakening the bearish signal.
Trading ideas
The recovery rally accounted for 40% and moved back above the 23.60% Fibonacci level. Currently, the altcoin is heading towards the $1 mark and it could well enter a bull run with the boost from the Ethereum ETF deal later today.
According to the Fibonacci levels, the uptrend could reach the $2.75 mark. If the ETF performs well, the bull run could bring a 10x gain by 2024.
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Similar to Mantle, ONDO price action is showing a breakout rally that is poised to accelerate as the broader market recovers. Despite facing resistance at the 50D EMA, the short-term correction retested the breakout event.
Trading ideas
ONDO’s uptrend could re-challenge highs above $1.40 and could potentially reach the psychological $1.50 mark. According to the trend-based Fbiboacci levels, the altcoin could reach the $5.75 mark.
THE AGE
The daily chart shows a rising wedge pattern, with AEVO price facing resistance from multiple bearish factors. The 50% Fibonacci level is located at $0.60, the 50D EMA, and the uptrend line are future resistances.
Trading ideas
Considering that the 66% rally continues to breakout, a bull run could be initiated as the broader market recovers. Therefore, a 10x rally for this altcoin could reach the 2.618 Fib level at $6.30 in the coming weeks.
The blogger has made careful preparations and will recommend a series of potential currencies to fans, with the goal of doubling profits by the end of the year. This is by no means empty talk, but a real layout strategy.
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