The cryptocurrency market started the month of July on a strong bullish note, adding more than 4% to its global valuation within the last 24 hours. Moreover, the altcoin leader, Ethereum price regained momentum, jumping 3.26% in the past day.
Following in their footsteps, the ETH-based tokens have shown a similar trend by gaining significant value in their respective portfolios. With the rising bull sentiment, will these altcoins overwhelm top cryptocurrencies this month?
Let’s proceed as we have covered in this article the price analysis and long-term targets of the top 5 Ethereum-based altcoins that have the potential to record significant gains this month as market sentiments have turned bullish.
OriginTrail (TRAC):
After successfully retesting its support level of $0.60, TRAC price successfully regained momentum and recorded a jump of 10.82% within the last day with a change of +63.98% in its trading volume. Additionally, the altcoin is up 30.79% in the past week and has a YTD return of 17.05%.
The technical indicator, MACD, is showing a steady rise in the green histogram, indicating an increase in the buy-over-sell pressure in the crypto space. Moreover, the averages show a positive pattern, which suggests that the price will continue to gain value in the coming time.
Additionally, the Simple Moving Average (SMA) is continuously acting as a support for the price chart in the 1D time frame, suggesting a greater bullish sentiment for the TRAC coin price.
If the market holds the OriginTrail price above the $0.770 support level, the bulls will regain momentum and prepare to test its upper high of $1.132. Conversely, a bearish reversal could pull the TRAC price to its low of $0.60 this month.
PepeCoin (PEPECOIN):
Launched on the Ethereum chain back on April 15 following the memecoin mania by the pioneers and visionaries in the year 2016, this project introduced an entertainment OS style app ecosystem. It integrates DeFi, gaming, unique NFT experiences and cutting edge memetics.
With a trading price of $3.52, a circulating supply of 115,752,038 PEPECOIN, and a total supply of 133,769,419 PEPECOIN tokens, this altcoin secured the 208th position in the global crypto list with a market cap of $407,441 million.
Positively, the memecoin recorded a jump of 7.64% in the last day with a trading volume of $4.64 million. Furthermore, it has added 27.26% in the past week. Despite a decline of 35.62% within the last 30 days, it has seen a YTD return of 386.20%.
Beam (BEAM):
Amid increased price volatility in the crypto space, the BEAM crypto recorded a jump of around 10% within the last day with a 100% surge in its trading volume. Additionally, the altcoin has added 6.60% in the past week, indicating rising bullish sentiment in the crypto space.
The Relative Strength Index (RSI) has successfully retested its oversold range, resulting in the altcoin recording a sharp rise in its price chart. Additionally, the average experienced a bullish curve, suggesting a positive outlook for the BEAM price this week.
If the Beam coin price continues to trade under a bullish sentiment, it will prepare to test its upper resistance level of $0.028330. However, in the event of a bearish reversal, the altcoin will drop to its crucial support level of $0.013911.
SafePal (SFP):
SafePal is a cryptocurrency wallet launched in the year 2018 with a primary goal of helping its users protect and grow their digital assets. Built on the BNB Smart Chain (BEP20), SafePal offers both software and hardware wallets, all paid for and operated through the SafePal app.
Its native token “SFP” has shown bullish price action since the beginning of the year, indicating a bullish sentiment for the altcoin in the market. Notably, it has added 17.02% within the past seven days and has a year-to-date (YTD) return of 10.84%.
UNCX Network (UNCX):
Despite a drop of about 1% in its trading volume, the UNCX price has added 4.12% to its portfolio within the past day and 5.33% over the past seven days. Additionally, the altcoin has gained 6.92% in the past 30 days and 43.57% this year.
The 50-day EMA acts as a support for the UNCX price chart in the 1D timeframe, suggesting a strong bullish sentiment for the altcoin in the cryptocurrency market.
On the other hand, the technical indicator, MACD, shows a constant decline in the red histogram. Additionally, the averages display a potential bullish convergence in its price chart, suggesting a positive outlook for the altcoin this week.
Assuming the bulls continue to dominate the crypto market, the UNCX Network price will prepare to test its upper resistance level of $396.5 this month. Conversely, if the bears overpowered the bulls, the UNCX crypto will drop to its low of $311.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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