direct impact Bitcoin halving It wasn’t as impressive as I often see in other cycles. However, it is the long-term outlook for the halving that is attracting avid crypto investors. Anticipated supply tightness could be a force to be reckoned with in a bull market. Bitcoin But important altcoins will be held as well. Ethereum (ETH) and Dogecoin (DOGE).
Amid expectations for a big breakout in the second half of this year, the cryptocurrency market is experiencing heightened uncertainty due to investor anxiety. While participants are concerned about the red color, some see this volatile situation as a time to DCA and buy altcoins with an eye on 100x+ profit potential.
Bitcoin price is trading at $64,542, after a correction from a weekly high of over $67,000, while Ethereum is trading below $3,200. Altcoins have been most affected by the headwinds, with some tokens posting double-digit losses.
Identifying which altcoins to own during these uncertain times could be beneficial for investors in the long run.
1. Ethereum (ETH) tops the list of altcoins to own
Optimism for spot Ethereum exchange-traded funds (ETFs) gained momentum in the first quarter after the Securities and Exchange Commission (SEC) approved a number of mutual funds. Bitcoin ETF.
Several potential ETH ETF issuers have moved to apply for regulatory approval to operate their products in the United States. Market sentiment towards Ethereum has improved significantly, with experts predicting a similar impact to the BTC ETF on Bitcoin prices, which hit an all-time high of $73,837 in March. CoinGecko The data shows.
But a new report suggests the SEC may move to deny this. Ethereum ETF. The report published by Reuters It cited ETF issuers and other companies who said regulators were reluctant to meet with them.
So far, nine companies have filed proposals with the SEC to list Ethereum ETFs, including VanEck and ARK Investment Management. Spot ETFs track the price of Ethereum in real time.
The bearish trend towards Ether increases when the Money Flow Index (MFI) falls below the 40 mark. In other words, more money is flowing out than flowing into the Ethereum market, putting further pressure on the price, which is currently 24% below its 2024 peak of $4,089. The token is also below his two bull market indicators: the 20-day exponential moving average (EMA) and his 50-day EMA (blue and red lines on the chart).
The correction could be profitable if Ethereum price gains momentum from the formation of a falling wedge pattern.A break above the upper trend line could prompt traders to buy. Ethereum Bet on a trend reversal towards the $4,000 mark.
2. Dogecoin (DOGE)
Dogecoin trading activity surged significantly, with volume increasing by 10% despite the price drop, reaching a total of $1.38 billion. As the 8th largest cryptocurrency by market capitalization, Dogecoin currently boasts a market value of approximately $21.53 billion.
Over the past week, Dogecoin’s value has shown considerable volatility, fluctuating between $0.14 and $0.16, ultimately increasing by nearly 2%.
Expectations are rising that Dogecoin could deliver further gains if its value remains above $0.14. This stability could pave the way for a rally towards the $0.8 level, which could open the door to the $1.00 level in the near future.
On the other hand, if the bearish trend strengthens, Dogecoin could return to the support level of $0.14. If the downtrend continues, its value could fall further and reach a low of $0.11 in the following weeks.
Dogecoin’s daily technical indicators indicate periods of sustained volatility as the cryptocurrency continues to fluctuate within a narrow trading range. The upper Bollinger Band is located at $0.2054, while the lower Bollinger Band indicates a support level at $0.132, suggesting that Dogecoin is experiencing significant price movement. Additionally, the relative strength index (RSI) is currently 41.98, indicating that the asset is neutral.
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