Ethereum has managed to stabilize around the $2,000 mark following the loss of its upward support in February but remains unable to breach the crucial $2,800 threshold. Despite this stagnation, some Ethereum-based altcoins—Optimism, Lido DAO, and Ethereum Name Service—are displaying significant bullish signals, capturing the attention of traders monitoring their ability to break through key resistance levels.
What Signals Are Optimism and Lido DAO Giving?
Optimism experienced substantial selling pressure, resulting in a downfall to historical lows. However, the recent easing of this pressure has revived optimistic sentiment. Indicators such as the Money Flow Index and On-Balance Volume suggest buying interest is growing. An upward candle closure past $1.20 could further ignite momentum, possibly leading to targets between $1.94 and $2.03, with a potential rally towards the parabolic recovery curve’s neckline at $2.80.
Conversely, Lido DAO maintains a robust support line, sustaining investor confidence. Having surpassed the Ichimoku cloud’s turning line and with an upward-tilting Relative Strength Index, the altcoin hints at forming a “golden cross” pattern. A breach above $2 could drive Lido DAO’s price up to $5, potentially marking an 80% increase.
Can Ethereum Name Service Overcome Its Resistance?
Ethereum Name Service has shown a lively upward trajectory from the year’s onset, consistently upholding its rising trend line. Currently, the altcoin challenges a critical resistance posed by the 200-day moving average. This situation places ENS at a pivotal crossroads in its short-term prospects.
According to the DMI indicator, the diverging lines suggest a reduced likelihood of further declines. Moving beyond the 50-day average could refocus attention on a target of $30, provided the coin can breach the W pattern’s neckline. Successfully overcoming this resistance might enhance market sentiment, boosting ENS’s stature within the Ethereum sphere.
• Optimism’s potential targets fall between $1.94 and $2.03, contingent on breaking $1.20.
• Lido DAO could ascend to $5, marking an 80% jump if it surpasses $2.
• Ethereum Name Service aims for $30 if it breaches the 50-day average.
As a new wave of optimism sweeps across certain altcoins, the crypto sphere remains attentive to how these digital assets maneuver through critical levels, as success in doing so may redefine their market outlooks and capabilities.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/altcoins-see-promising-rally-ahead