Spot Bitcoin ETFs Are Hitting Record Highs Daily—What Does This Mean for Altcoins and the Start of Altcoin Season?

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Ethereum (ETH)

Ethereum’s price has surged recently. In the past week, it jumped by 15.74%. Over the last month, it increased by 19.35%. However, over six months, the price change was minimal at 0.0223%. This shows strong short-term growth but little long-term movement.

Current data suggests Ethereum’s price may continue to rise. It trades between $2337.85 and $2649.03. The nearest resistance is at $2841, about 7% above the current high. If it breaks this level, the next target is $3153, roughly 19% higher. The nearest support is at $2219.06, about 5% below the current low. Falling below this could lead to $1907.88.

Technical indicators support potential growth. The 100-day Simple Moving Average is $2625.34, near the current price, hinting at an upward trend. The 10-day SMA is higher at $2910, showing recent gains. The Relative Strength Index is 62.65, indicating moderate buying pressure. The Stochastic value is 54.83, suggesting neutral momentum. A positive MACD level of 34.86 signals bullish potential. Together, these factors suggest Ethereum could continue its upward path soon.

Solana (SOL)

Over the past week, Solana (SOL) has surged by 20.17%. In the last month, it climbed 41.15%, and over six months, it increased by 39.27%. These significant gains highlight growing interest in Solana and suggest potential for continued upward movement.

Currently trading between $152.45 and $177.86, Solana’s nearest resistance level is at $193. If it breaks above this point, the next resistance is at $219. On the downside, immediate support lies at $142.46, with a secondary support at $117.05. The 10-day simple moving average is $199, which is above the current price range, indicating that the asset may rise to meet this average.

Technical indicators show mixed signals. The Relative Strength Index (RSI) is at 69.20, and the Stochastic is at 85.43, both suggesting that Solana is approaching overbought territory. However, the MACD level at 3.090 points to bullish momentum. If Solana surpasses the $193 resistance, it could advance toward $219, representing a potential gain of about 23% from current levels. Conversely, if it falls below the $142.46 support, it might decline toward $117.05.

Jupiter (JUP)

Jupiter (JUP) has been on a remarkable rise lately. In the past week, its price jumped 16.48%, showing strong short-term momentum. Over the last month, JUP surged by an impressive 51.01%, indicating growing investor interest. Even over the past six months, the coin has maintained growth, increasing by 6.46%.

The current price range of JUP is between $0.79 and $1.03. This is just below its 10-day simple moving average of $1.09 but above the 100-day average of $0.97. The Relative Strength Index (RSI) stands at 68.63, nearing the overbought zone, which suggests strong buying pressure. The Stochastic indicator is at 75.33, supporting the bullish outlook. The MACD level of 0.0210 points to positive momentum.

Looking ahead, the nearest resistance level is at $1.18. If JUP breaks through this, it could target the second resistance at $1.42, offering potential gains of around 15% and 38% respectively from current prices. On the downside, support levels at $0.70 and $0.46 could provide a safety net in case of a pullback. The technical data hints at continued upward movement, but key levels will be critical in determining JUP’s next direction.

Ondo Finance (ONDO)

ONDO has shown positive momentum recently, with a 5.56% increase over the past week and a 6.68% rise in the last month. Despite these gains, the token is still down 7.28% over the past six months. Currently trading between $0.56 and $0.72, ONDO is attempting to recover from previous declines.

Technical indicators present a mixed outlook. The Relative Strength Index (RSI) stands at 48.23, suggesting neutral momentum. The stochastic oscillator is at 18.69, indicating the token may be oversold and could be poised for an upward move. The 10-day Simple Moving Average (SMA) is $0.73, slightly above the current price range, while the 100-day SMA is $0.67, aligning closely with current levels.

For ONDO to continue its upward trajectory, it needs to break through the nearest resistance level at $0.82, which would be an increase of about 14% from its current high. Surpassing this could open the path to the second resistance at $0.98. On the downside, if the price falls below the nearest support at $0.49, it could decline toward the second support level at $0.33. Based on recent performance and technical indicators, there’s potential for ONDO to rise in the short term.

Conclusion

Bitcoin ETFs’ records point to altcoin season: ETH, SOL, JUP, and ONDO are promising, but XYZVerse (XYZ) unites sports fans in crypto, targeting 20,000% growth as the G.O.A.T of memecoins.

You can find more information about XYZVersus (XYZ) here:

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