- Crypto market experts forecast the imminent listing of the Ethereum ETF next week, sparking expectations of a ballistic recovery rally in altcoins.
- The close ties of certain altcoins with the Ethereum Blockchain are noticed, as these assets are known to amplify bullish movements.
- According to analyst Sohrab Khawas, there are three altcoins that could potentially double in value with the Ethereum ETF approval next week.
Discover which three altcoins could potentially see a 100% increase with the upcoming Ethereum ETF approval, and gain insights into market trends and investment opportunities.
First Altcoin to Watch: Floki (FLOKI)
As the market braces for next week’s anticipated Ethereum ETF listing, the Ethereum-based meme coin FLOKI stands out as an excellent choice for upward movement. Currently trading at $0.00014, FLOKI’s price has plummeted 56% from its peak of $0.00032, presenting a double dip opportunity. The ongoing lateral trend following a significant decline signals a potential trend reversal for this altcoin. Additionally, the increased likelihood of a bullish crossover in the MACD further supports a positive outlook. Based on Fibonacci levels, FLOKI’s price could reach as high as $0.00039 with the Ethereum ETF listing.
TrueFi (TRU): A Promising Prospect
TrueFi’s (TRU) token price reveals a strengthening bullish cycle backed by a solid support trend line. The price action of TRU indicates the formation of a rounded bottom, reclaiming the 23.60% Fibonacci level at $0.13. With a 9.29% intraday surge, TRU’s price action has formed a bullish engulfing candle, paving the way for the continuation of the upward trend. Moreover, the MACD indicator’s bullish crossover enhances the prospects of a sustained bullish cycle. With the Ethereum ETF listing, TRU’s price could surge to the $0.25 mark.
Arbitrum (ARB): On the Verge of a Breakout
Arbitrum (ARB), with a market capitalization of $2.27 billion, is poised for a bullish breakout on the daily chart. As the ARB token price forms a falling wedge pattern and approaches the bottleneck region, broader market recovery could lead to an upward breakout. Moreover, the gradual bullish alignment of the MACD and signal lines indicates that the altcoin could nearly double in value with a breakout. Currently trading at $0.7052, ARB is on the cusp of surpassing the overall trend line. With a positive trend and the Ethereum ETF listing, ARB’s price could climb to $2.18.
Conclusion
In summary, the anticipated Ethereum ETF listing next week could trigger significant bullish movements in certain altcoins linked to the Ethereum Blockchain. Floki (FLOKI), TrueFi (TRU), and Arbitrum (ARB) stand out as promising candidates for substantial gains. Investors should consider these altcoins for potential investment opportunities while conducting their thorough research and risk assessment. As always, market conditions can be unpredictable, and consultation with a financial advisor is recommended. Stay informed and stay ahead with the latest in crypto market developments.
