Ethereum has shown signs of a potential surge, sparking curiosity among investors. Questions arise if it can hit $3,500 by year’s end. Additionally, three promising altcoins are poised for substantial gains, possibly growing by 200% in 2024. This article explores the factors behind Ethereum’s potential rise and unveils the altcoins that could lead the market.
Ethereum (ETH)
Ethereum (ETH) is trading between $2489 and $2759.74, with recent bearish trends presenting a unique opportunity for growth. Currently below its 10-day SMA of $2643.81 and showing an RSI of 29.89, ETH is in oversold territory, suggesting potential for a significant rebound. Breaking through the $2906.61 resistance could trigger an 8% rise, and a further push could target the second resistance at $3177.25, representing a potential 14.6% gain. Despite a 26.84% drop over the past month, the oversold conditions might set the stage for a substantial recovery, making ETH a coin to watch for a possible surge as the year progresses.
Uniswap (UNI)
Uniswap (UNI) is trading between $5.82 and $6.58, facing a tough market with a 23% drop this month. Despite the current bearish trend and weak bullish signals, there’s a silver lining. If UNI can regain momentum, it has the potential to reach the first resistance level at $6.98, representing a 10% gain. With careful monitoring, breaking this resistance could pave the way for further gains. On the downside, the nearest support level at $5.46 remains critical, but if UNI stabilizes, it could bounce back with strength. Watch these key levels closely as UNI aims for a rebound.
Undeads Games (UDS)
Undeads Games (UDS) is currently trading between $1.28 and $1.78, with recent gains hinting at potential upside. Despite struggling to breach the $2.04 resistance, the coin has experienced a notable 24% rise over the past month. With the RSI at 48, the market shows balanced sentiment, but a bullish breakthrough could lead UDS to new heights. Surpassing the $2.04 resistance could open the door to $2.54, marking an impressive 40% gain. While maintaining above $1.02 is crucial, the current setup suggests that UDS is primed for a strong finish by year-end if it can leverage current gains.
Conclusion
ETH has shown strong resilience and has the potential to reach $3,500 by year-end. UNI, and UDS are poised for substantial growth in 2024, eyeing possible gains of 200%. Market trends and positive investor sentiment are boosting confidence in these assets. The bull run of 2024 enhances the probability of achieving these targets. Each of these coins has unique strengths making them attractive in the current market climate.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/08/could-eth-reach-3500-again-by-year-end-plus-3-altcoins-set-for-200-growth-in-2024