The cryptocurrency markets started positively today following the SEC’s decision to withdraw its investigation into Ethereum 2.0. This development has not only boosted Ethereum and its related tokens but has also stirred activity across other altcoins. The SEC’s progress towards accepting an ETF and categorizing Ethereum as a commodity has provided further market optimism.
Pepe (PEPE)
Pepe has shown resilience in the market, swiftly rebounding despite bearish pressure hindering its rally. After bouncing off lower support levels, PEPE is poised for a strong upward movement, potentially signaling a 20% increase as bullish sentiment prevails.
Toncoin (TON)
Toncoin has exhibited independent bullish momentum, marked by consecutive higher highs and lows leading up to the end of Q1 2023. Despite recent market fluctuations, the coin’s strong trend suggests a potential rebound, especially with the impending launch of the ETH ETF.
Shiba Inu (SHIB)
Shiba Inu has struggled beneath critical support levels but is showing signs of a minor recovery amid persistent selling pressure. The token faces significant volume dynamics that could lead to a breakthrough and a potential rise above $0.00002.
Ondo (ONDO)
Ondo has maintained stability within an ascending parallel channel since inception, respecting both resistance and support levels. With reduced selling pressure and indications of a reversal, ONDO is expected to reclaim $1.6 and potentially establish new highs above $1.62 soon.
Render (RNDR)
Render is nearing the end of its consolidation phase, lacking significant bullish momentum. The current bearish trend suggests potential further declines until the price reaches a liquidity area, potentially stimulating buying interest upon hitting $8.3 and initiating an upward trend.
Fetch.ai (FET)
Fetch.ai has faced considerable bearish sentiment among AI tokens but is anticipated to recover strongly with the launch of the spot ETH ETF. As it nears monthly lows, a rebound appears imminent upon reclaiming the crucial resistance level at $1.8, signaling a return to a bullish trajectory.
Following the SEC’s closure of investigations, these altcoins have regained some strength after facing prolonged bearish pressures. With prospects of the spot ETH ETF commencing trading, these tokens, alongside Ethereum, are poised to initiate a fresh uptrend in the market.
