The cryptocurrency market is experiencing an active phase, with Ethereum surpassing the $4000 mark, triggering increased interest in altcoins. This article examines the best-performing altcoins and their forecasts.
AERO and PENDLE: Leaders in Growth
Among the top 100 cryptocurrencies by market cap, AERO has emerged as the top gainer in the last 24 hours, boasting a 26% surge and a weekly gain now at 32%. As of writing, AERO is trading above the significant psychological threshold of $1. Returning to $1 after 51 days may lead to further growth towards $1.19 and $1.37, provided it closes above this level.
Following closely is PENDLE Coin, with an 18% daily hike and a near 40% weekly gain. The $4.86 level serves as significant support, where it consistently closes. Revisiting this zone after 216 days, the lack of sudden market drops might set the stage for resistance tests at $5.57 and $5.95. A retreat below $4.86 could send it down to $4.13.
LDO, XLM and PEPE: Rising Contenders
LDO Coin’s value is surging thanks to the recent SEC approval for liquid staking. The currency experienced a 20% weekly increase and a 12% daily rise, with future peaks potentially achieved alongside Ethereum’s growth. As LDO rebounds from $0.86, it approaches formidable resistance at $1.2, unbeaten for 160 days. If SEC approval continues and Ethereum rises, this could promise a rally towards $1.5 and $1.94.
Stalwart altcoin XLM recorded remarkable gains in July. Buyers at $0.36 found selling opportunities at $0.45, with risk appetite potentially prompting a retest of the $0.51 mark.
Lastly, PEPE Coin has significantly benefited from Ethereum’s rise, showing a near 20% recovery from its lows, with further gains possible. A rally might accelerate at $0.0000131, targeting a $0.0000163 peak if Ethereum breaks the $4,100 barrier.
Prospects for Altcoins
At this moment, Ethereum is exhibiting a consistent rise, creating positive prospects for many altcoins. AERO and PENDLE have already demonstrated impressive results, while LDO, XLM, and PEPE have joined this upward trend. Analyzing various altcoins indicates potential for further growth depending on Ethereum's market behavior.
These events highlight the activity of the crypto market and the sensitivity of altcoins to changes in Ethereum's prices. Investors and traders continue to monitor the situation and forecasts closely, as potential price changes may influence their strategies.
