The altcoin leader, Ethereum Price, has successfully reclaimed the $3,900 mark over the past weekend by adding approximately 5% to its portfolio. With this, the ETH-based tokens have continued to record a bullish market-like situation.
Moreover, top ETH tokens such as JASMY, ENA, and LDO have recorded significant attention from the crypto market, resulting in these altcoins adding 44%, 30%, and 54% to their respective valuations over the past seven days.
Will the Ethereum-based altcoins lead the upcoming AltSeason by outperforming the top cryptocurrencies?
ENA Token Forms A Channel Pattern
The Ethena price continues to record a bullish price action by adding approximately 2% to its portfolio with a trading volume of $315.048 Million, a jump of 12.11% within the past day and 30.21% over the past seven days, indicating the rising interest of investors in this altcoin.
Positively, the Ethena price has formed a rising channel pattern in the 1D time frame, highlighting increased buying pressure for the altcoin in the crypto space.
Moreover, the SMA supports the price chart, hinting at a strong bullish sentiment in the crypto market. However, the RSI displays a bearish convergence, suggesting a mixed sentiment.
If the market pushes the ENA price above the resistance level of $0.95, the bulls will prepare to break out of the channel pattern and test its upper level of $1.030. However, bearish price action could pull the price toward its support trendline this month.
Jasmy Price Displays A Breakout Rally:
After trading within a symmetric triangle pattern since mid-February, the Jasmy coin price has successfully recorded a breakout pattern over the past weekend, indicating a strong bullish reversal for the ETH-based token in the crypto market.
The technical indicator, MACD, shows a constant uptrend in the chart, suggesting increased positive sentiment for the altcoin. Furthermore, the averages display a significant rise, indicating a bullish outlook this week.
If the bulls continue to gain momentum, the Jasmy coin price will surpass its resistance level and test its upper high of $0.0350. Conversely, a bearish trend reversal could result in the altcoin dropping toward its support trendline.
Lido Dao On The Verge Of A Major Breakout!
The LDO price traded in a closed range between $1.840 and $2.235 for a period, following which the bulls lost momentum and broke down its important support level. However, after testing its crucial support of $1.50, the bulls regained momentum. Since then, the price has been trading positively.
The Cross EMA 50/200-day has displayed a bullish crossover in its chart, suggesting an increase in the buying-over-selling pressure for the altcoin.
The Relative Strength Index (RSI) is on the verge of surpassing its overbought range, highlighting a significant rise in the bullish sentiment for the Lido Dao price in the crypto market.
If the bulls hold the price above the support level of $2.625, the LDO price will prepare to test its upper resistance of $3 in the coming time. Negatively, if the bears overpowered the bulls, the price would plunge toward its lower support level of $2.235.
