With Donald Trump elected as the 47th President of the United States, the cryptocurrency market is experiencing a widespread bull market. The cryptocurrency community hopes for more favorable laws and attractive initiatives for cryptocurrencies after the president takes office.
In this environment, the prices of altcoins such as Ethereum (ETH) and Pepe (PEPE) are soaring.#btc7772
Ethereum (ETH) price could soar to $5000
ETH is one of the top five cryptocurrencies, and its value surged significantly after Trump's election. CoinMarketCap shows that ETH's price increased by nearly 10% within a week, fluctuating between $2564 and $2813.
It is predicted that ETH may rise to $5000, and it is expected to reach $3000 soon (achieved within 24 hours).
ETH technical indicators support this view, with TradingView showing its current trading price above the 20-day EMA ($2862) and the 50-day EMA ($2956), with a momentum indicator of 257, indicating a bullish trend. Additionally, the Ethereum Foundation has launched the Mekong testnet for Pectra upgrade testing, which includes related EIPs (such as the staking process), making ETH worth watching.
Bold prediction for the price of Pepe (PEPE)
PEPE is a popular meme coin with a good price trend. CoinMarketCap shows that PEPE's price has increased by over 10% in the past week, with its market cap rising from $3.9 billion to $4.4 billion.
Its price increase is due to Trump's victory and support from Robinhood. Its price prediction is supported by technical analysis. TradingView shows that PEPE's current trading price is above the 10-day EMA ($0.0000092) and the 30-day EMA ($0.0000093), with the momentum indicator at $0.0000012 in the buy zone, indicating a bullish trend may continue.
Overall state of the crypto market after the US election
After the US presidential election, the cryptocurrency space is buzzing. Trump has called cryptocurrency the future, capable of replacing traditional banks, and many are looking forward to the introduction of crypto-friendly laws, which may lead to significant growth for cryptocurrencies like ETH and PEPE.
