Ethereum-based Altcoins Poised for Potential 2X Surge
The digital currency market has seen a surge of more than $240 Billion in its worldwide value in the last week, indicating a growing optimistic outlook in the crypto sector. Additionally, as rumors circulate about the potential listing of an Ethereum ETF, the price of ETH has surpassed the $3.4K threshold.
As a result, various Ethereum-based alternative coins have experienced significant momentum, adding substantial value to their portfolios in a short span of time. Interested in investing in tokens based on ETH?
In this piece, we delve into the prevailing market sentiments, price movements, and potential short-term price targets of Mantra (OM) and JasmyCoin (JASMY) cryptocurrencies.
Mantra (OM) Price Achieves a New All-time High:
The price of OM has hit a new all-time high (ATH) of $1.33 during the Asian trading hours for the year. Impressively, the altcoin has surged by 16.52% in the past day and 40.57% over the last week. Furthermore, with a remarkable 69.38% surge over the last 30 days, it has yielded a year-to-date return of +2,148.98%.
The Moving Average Convergence Divergence (MACD) has shown a consistent uptrend in the green histogram, with its averages experiencing a substantial increase in the price chart since the beginning of the month. This signals a bullish perspective for the Mantra price in the cryptocurrency market.
Should the crypto market maintain its bullish stance, the price of Mantra is poised to rise and potentially reach a new peak soon. However, if investors opt to take profits, the OM price could drop towards its lower support level of $1.050.
Jasmy Coin Price Nearing a Significant Breakout:
Amid the escalating bullish sentiment in the crypto market, the JASMY price has surged by 11.15% in the past day, with a trading volume of $223.341 million. Despite a correction of 17.80%, JasmyCoin has secured the 59th position with a market capitalization of $1.457 billion.
The Simple Moving Average (SMA) indicator is providing support to the price chart in the 1-day timeframe. However, the Relative Strength Index (RSI) has undergone a sharp pullback towards the midpoint, indicating a mixed sentiment within the crypto sphere.
If the market propels the JasmyCoin price above its resistance level of $0.03150, the bulls are likely to continue trading under a positive influence and prepare to challenge its upper resistance level of $0.03850. Conversely, if bearish sentiment dominates the market, JasmyCoin may retest its low of $0.02450.
