Ethereum Tops Best Altcoins To Buy As Duncan Upgrade Goes Live
Ethereum experienced a strong rally following the BTC ETF approval, reaching $2,700. This surge can be attributed to investors turning to Ethereum in anticipation of an ETF in the coming months. However, the price of Ethereum retreated slightly and is currently trading at around $2,540. The cryptocurrency is oscillating within a descending channel, suggesting the possibility of a bull flag breakout. Traders may consider entering long positions slightly above the breakout point, accompanied by a significant increase in trading volume.
Buying The Dip In Celestia (TIA), Here’s What You Should Know
Celestia’s short-term price analysis indicates a downward trend, as it has lost momentum under $20. The cryptocurrency is struggling to maintain support provided by the ascending trendline and is below the 20 EMA. The RSI’s neutral position suggests that further declines are possible. There is a potential bounce back from the 50 EMA at $17.5, but TIA could fall further to around $13.8 before another uptick. If TIA breaks above the rising trendline and the 20 EMA, it could experience an immediate rebound above $20.
Sui Price Back In The Green, How High Can It Go?
Sui price has seen a modest increase following a bounce back from higher support at $1.2. The token is facing resistance at the 20 EMA, $1.3, and $1.4 levels. The RSI indicates signs of regaining strength and supporting momentum behind SUI. It is important for bulls to look beyond sell signals from indicators like MACD and refrain from closing long positions or shorting the token. A successful retest of the 20 EMA and seller congestion at $1.3 could make Sui more attractive, potentially pushing it to an all-time high of $1.72.
Hot Take: Altcoins Show Potential for Gains in Q1
While Bitcoin’s performance has been disappointing after the BTC ETF approval, there is optimism surrounding altcoins like Ethereum, Celestia, and Sui. These cryptocurrencies have shown potential for gains in Q1, with Ethereum leading the pack as the Duncan upgrade goes live. However, market doldrums and technical indicators may impact their performance. Traders should carefully analyze the price movements and consider entering long positions at breakout points with significant trading volume support. Overall, altcoins present opportunities for investors looking to diversify their crypto portfolios.
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