Top Ethereum-based Altcoins to Consider for Potential 3X – 5X Growth in Q3

The value of the Ethereum token has surged past the $2,700 mark, leading to a significant uptrend in various Ethereum chain altcoins this week. Many top altcoins and mid-cap tokens have witnessed a double-digit increase in their valuation, hinting at a potential bullish reversal in the crypto market in the near future.

This article delves into the market sentiments and price analysis of the top three ETH-based altcoins that are poised to outperform other major crypto tokens in the upcoming period.

Jupiter (JUP):
Despite a minor correction of around 4% in recent hours, the price of JUP has rebounded strongly, surging by approximately 32% over the past four days. With a market capitalization of $1.147 billion, Jupiter currently holds the 58th spot in the global cryptocurrency rankings.

Technical indicators like MACD suggest a bullish convergence, with the SMA indicating a positive crossover, signaling further price appreciation for JUP in the week ahead. If the market maintains JUP’s price above the crucial support level of $0.8445, it could target the upper resistance level of $1.4950. Conversely, a bearish scenario might push the price down to $0.540.

Ethereum Name Service (ENS):
Amid increasing market volatility, ENS has experienced an 8% surge in the past day, accompanied by a trading volume of $146.775 million, reflecting a notable change of +102.56%. Despite a 30% correction in the last month, ENS has shown an impressive 88% gain year-to-date.

The RSI indicator has rebounded from oversold levels and is trending towards the midpoint. However, the absence of a bullish convergence with its average trendline suggests a mixed market sentiment. Sustaining the bullish momentum could propel ENS towards its high of $27.75, while a reversal might lead to a decline to $17.50.

Neiro Ethereum (NEIRO):
Neiro Ethereum has garnered attention in the crypto sphere with its unique selling proposition of zero tax on crypto transactions. Positioned as a promising entity in the market, NEIRO has quickly gained traction despite a recent 10% drop in value. The altcoin has surged by 14.88% in the past week and an impressive 1,440% since its inception.

With a trading value of $0.2129 and a circulating supply of 1 billion NEIRO tokens, the altcoin holds the 222nd position in the global cryptocurrency market, boasting a market cap just under $213 million.

In conclusion, the resurgence of Ethereum and its associated altcoins indicates a potential bullish trend in the crypto market, with specific altcoins showing promising growth prospects in the near term.