Top Low-Cap Altcoins Poised For 10x Rally Ahead of Ethereum ETF Approval
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With the crypto market going ballistic overnight, the bull run is starting in Bitcoin and the altcoins. Further, the altcoins find a sharp increase in uptrend momentum as the discussions around the Ethereum ETF are turning hot.
With the increasing possibility of the Ethereum ETF getting approval, smart money is looking out for altcoins that may experience direct bullish influence.
To make this easier for you, we have picked the best low-cap altcoins to buy. So, let’s have a closer look at the price analysis of these altcoins for potential targets and entry points.
Manta Network (MANTA)
With a market cap of $418 Million, the MANTA token price shows a bullish reversal overnight. The trend reversal leads to an uptrend of 17% in the last 24 hours with a jump in trading volume.
The bullish reversal in the altcoin shows a falling channel breakout in the 4H chart. This increases the likelihood of a bullish trend continuation. Trading at $1.67, the underlying potential teases an uptrend beyond $5 if the momentum sustains.
Loopring (LRC)
As an adamant player in the Ethereum layer 2 sector, the LRC token presents a lucrative entry opportunity to sideline traders. The bullish reversal from the 23.60% Fibonacci level pumps the altcoin price by 16% within 48 hours.
As the bull run gains momentum with a rise in trading volume, the LRC price is taking off for a moonshot. Further, the Fibonacci levels project an uptrend target of $0.7731 if the Ethereum ETF gets approval.
Metis (METIS)
As the market turns bullish, the METIS token surpasses the short-term resistance trendline. The breakout rally picked up pace as the ETH price jumped last night, with the ETF decision trending.
With a market cap of $434 million, the METIS price trades at $76.83 and challenges the 50% Fibonacci level. The turnaround rally teases a potential surge in the coming days.
As per the Fibonacci retracement levels, the altcoin could reach the $200 mark if the ETH ETF gets approval.
Bitrock (BROCK)
Bitrock is an Ethereum sidechain that works on the Proof of Authority (PoA) blockchain to provide a near-zero gas fee. Following days of consolidation, the BROCK price is preparing a trend reversal from the $0.10 psychological support level.
The altcoin shows a rounding reversal rally gaining momentum as the Ethereum ETF approval chances improve. With a bullish candle of 16.92% last night, the BROCK token expects a massive jump this week.
As per the Fibonacci level, the altcoin could scale to the $0.30 mark. Optimistically, the post-ETF approval could spring the BROCK price to $1.
Myria (MYRIA)
Myria, another Layer 2 scaling solution for Ethereum, shows immense potential this week. With the idea to scale NFTs, gaming and more, the project shines in the list of Ethereum’s Layer 2 solutions with a 21% jump last night.
With a trendline breakout, the MYRIA token shows a successful post-retest jump. This aligns with last night’s jump and the increased talks around the Ethereum ETFs.
As the altcoin signals a high possibility of a trend reversal, the Fibonacci levels project the MYRIA token target at $0.013 this week.
Conclusion
As the bull run is starting to pick up pace in the entire market, these altcoins are projecting a bullish price action. With the upcoming catalyst of the Ethereum ETF, the increased volumes can result in a massive jump for the mentioned altcoins.
Filed under: Bitcoin - @ May 22, 2024 5:11 am