The cryptocurrency market kicked off the week with significant bearish momentum amid growing concerns about a global recession. This downturn caused major tokens to breach their key support levels. Ethereum (ETH), the leading altcoin, hit a 24-hour low of $2,162.23, reflecting heightened bearish pressure.
Considering investments during this market correction? Below, we analyze the top Ethereum-based altcoins poised for substantial short-term gains.
Ethereum (ETH) Price Analysis
- Current Price: $2,493.96
- 24-Hour Change: +5.42%
- 7-Day Loss: 24.77%
- 30-Day Loss: 16.08%
- Market Cap: $299.99 Billion
Technical Indicators:
- RSI: Shows a bullish curve near the oversold range, hinting at a potential rebound.
- MACD: Rising red histogram signals strong selling pressure, while the downtrending averages suggest mixed sentiment.
Price Targets:
- Bullish Scenario: A breakout above resistance could push ETH toward $2,870.
- Bearish Scenario: Continued downtrend may test the $2,200 support level.
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Pepe (PEPE) Price Analysis
- 24-Hour Gain: 11.83%
- 7-Day Loss: 33%
- 30-Day Loss: 11.82%
- Trading Volume: $2.29 Billion
Technical Outlook:
- MACD: Persistent decline indicates dominant selling pressure.
- Averages: Bearish crossover suggests short-term weakness.
Price Targets:
- Upside Potential: A recovery could target $0.00001150.
- Downside Risk: Failure to hold support may lead to a drop toward $0.00000625.
Mantle (MNT) Price Analysis
- 24-Hour Gain: ~12%
- 7-Day Loss: 22.89%
- 30-Day Loss: 4.28%
- Trading Volume: $193.67 Million
Key Indicator:
- RSI: Bullish reversal pattern near oversold territory.
Price Targets:
- Bullish Breakout: A sustained rally could reach $0.860.
- Bearish Reversal: A fall below $0.5773 support is possible.
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Ondo (ONDO) Price Analysis
- 24-Hour Gain: 16.08%
- 7-Day Loss: 28.29%
- 30-Day Loss: 26.45%
Technical Insights:
- MACD: Declining red histogram hints at buying pressure.
- Averages: Neutral trend reflects market uncertainty.
Price Targets:
- Resistance Test: A push toward $0.98450 is feasible.
- Support Level: A drop to $0.44390 if bears dominate.
FAQ Section
1. Why invest in Ethereum-based altcoins during a downturn?
Altcoins often rebound sharply after corrections, offering high ROI opportunities.
2. What risks should I consider?
Volatility, liquidity gaps, and macroeconomic factors can impact short-term performance.
3. How do I identify promising altcoins?
Look for strong fundamentals, active development, and positive technical indicators.
4. Is now a good time to buy PEPE?
While PEPE shows volatility, its memecoin status makes it speculative—trade with caution.
5. What’s the best strategy for short-term gains?
Diversify across high-potential tokens and set strict stop-losses to manage risk.
Disclaimer: Cryptocurrency investments carry risks. Conduct thorough research before trading.