Crypto market gurus predict that the Ethereum ETF listing will finally arrive next week. Therefore, the recovery rally in altcoins is expected to go ballistic. Some altcoins that are closely linked to the Ethereum Blockchain and known to fuel bullish moves are coming under the radar. In this context, according to analyst Sohrab Khawas, 3 altcoins could surge by 100% next week on the back of Ethereum ETF approval. The analyst takes a closer look at the price charts and identifies bullish entry opportunities over the weekend.
Popular meme coin Floki (FLOKI) ranks first
With the Ethereum ETF coming next week, the Ethereum-based meme coin is perfect for quick upside moves. Trading at $0.00014, FLOKI price is down 56% from its peak of $0.00032. With a potential double bottom, the continued lateral trend after the big drop is leading to a trend reversal for the altcoin. Also, the increasing chances of a bullish crossover on the MACD favors the bullish side. According to Fibonacci levels, the bull run in FLOKI price could reach the $0.00039 mark with the Ethereum ETF listing.
TrueFi (TRU) comes in second place
With a solid support trendline, the TRU token price is revealing a bullish cycle that is gaining momentum. TrueFi token price action anticipates a rolling bottom reversal and retraces the 23.60% Fibonacci level at $0.13. With an intraday jump of 9.29%, the altcoin price action is forming a bullish engulfing candle, ensuring the continuation of the uptrend. Moreover, a bullish crossover on the MACD indicator supports the bull cycle in motion. Considering the continuation of the uptrend with the Ethereum ETF listing, the TRU altcoin price could reach a peak of $0.25.
The last altcoin that Ethereum ETF approval will push up: Arbitrum (ARB)
With a market capitalization of $2.27 billion, the Arbitrum price trend is on the verge of a bullish breakout on the daily chart. As the ARB token price forms a falling wedge pattern and approaches the bottleneck zone, the broader market recovery could result in an upside breakout. Moreover, with MACD and signal lines gradually gaining bullish bias and alignment, the altcoin could increase by almost 100% with a breakout. Currently, ARB price is trading at $0.7052 and is on the verge of breaking above the overhead trendline. With the bullish trend and Ethereum ETF listing, ARB price could reach the $2.18 level.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channelto stay up to date with breaking news !
Yazının devamı için Analyst: With Ethereum ETF Listing, These 3 Altcoins Could Make 2X!