Top 3 Altcoins Poised For 10x Rally With Ethereum ETF Launch Today
The post Top 3 Altcoins Poised For 10x Rally With Ethereum ETF Launch Today appeared first on Coinpedia Fintech News
The SEC officially green-lights the Ethereum ETF applications to begin trading on 23rd July 2024. A historic day for the altcoins and the crypto industry to increase the adoption of Ethereum and, in turn, the demand for $ETH.
While the ETH price will likely rise with the hype before the ETF trading, the bull run depends on net flows. A positive net flow could drive the ETH price to almost $5,000 this week.
Amid the bull run, the smart money will likely diversify into other altcoins that will give better returns with the HYPE. So, let’s take a closer look at our top three picks of altcoins poised for a 10x rally with the Ethereum ETF launch today.
Altcoins To Watch Out With Ethereum ETF Launch: Mantle (MNT)
With a falling channel breakout, the MNT price trend reveals a reversal rally from $0.625, gaining momentum. The bullish recovery surpasses the 200D and 50D EMA despite the recent death cross, undermining the bearish signal.
The recovery rally accounts for 40% and resurfaces above the 23.60% Fibonacci level. Currently, the altcoin heads to the $1 mark, and with the boost from Ethereum ETF trading live later today, it is likely to enter a bull run.
According to the Fibonacci levels, the uptrend could reach the $2.75 mark. If the ETF performance is positive, the bull run will likely account for a 10X rally in 2024.
Ondo (ONDO)
Similar to Mantle, the ONDO price action reveals a breakout rally ready to pick up pace with a broader market recovery. Despite facing opposition from the 50D EMA, the short-term correction retests the breakout event.
The uptrend in ONDO could rechallenge the peak above $1.40 and potentially reach the $1.50 psychological mark. As per the trend-based Fbiboacci level, the altcoin will likely hit the $5.75 mark.
AEVO (AEVO)
With a rising wedge in the daily chart, the AEVO price is facing opposition from multiple bearish elements. The 50% Fibonacci level is at $0.60, and the 50D EMA and the rising trendline are the resistances ahead.
Considering the 66% recovery rally continues with a breakout, the bull run is likely to launch off with the broader market recovery. Hence, in the coming weeks, a 10x rally in this altcoin could reach the 2.618 Fibonacci level at $6.30.
