With the Ethereum ETF listing hours away, the cryptocurrency market has displayed increased price volatility with top tokens recording constant fluctuations in their respective portfolios.
Dive in as, in this article, we have covered the top 3 altcoins that are highly influenced by the price of Ethereum and are predicted to display massive volatility in their respective valuations following the Ethereum ETF launch.
JasmyCoin (JASMY):
The JASMY coin has gained significant attention from the crypto market over the past few months. This has resulted in it adding over 320% to its valuation this year alone. Notably, with a market cap of $1.363 Billion, it has secured the 63rd position in the global crypto list.
The EMA 50-day acts as a support to the Jasmy price. On the other hand, the Relative Strength Index (RSI) has sharply declined toward the neutral point. Further, its average displays a potential bearish convergence in the 1D time frame, suggesting uncertainty in future price action.
If the market regains momentum following the Ethereum ETF listing, the JasmyCoin price will break its resistance level and head toward its upper high of $0.03850. Conversely, if the bears continue to dominate the market, the JASMY crypto will retest its low of $0.02450.
Beam (BEAM):
Despite recording a correction of over 2% within the past day, the BEAM price has added 12.93% within the past week and 10.12% over the last 30 days. With a YTD return of 4.89%, this altcoin has secured the 72nd spot with a market cap of $929.59 Million.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, highlighting decreased price action for the altcoin in the market. Further, the averages show a flatline, suggesting weak buying and selling pressure for the Beam price.
If the market trades under a bullish sentiment, the BEAM coin price will prepare to test its upper resistance level of $0.028910. However, if the bears overpowered the bulls, this altcoin would plunge toward its crucial support level of $0.013525.
Node AI (GPU):
With the increased price volatility in the crypto space, the Node AI price has added over 42% to its portfolio within the past seven days and 29.27% over the last 30 days. Further, with a trading value of $1.0591 and a market cap of $96.52 Million, it has secured the 385th position.
The technical indicators, MACD and RSI display a constant decline in their respective chart, highlighting a weak bullish sentiment for the Node AI price in the cryptocurrency market.
With a bullish reversal in the crypto market, the GPU price will prepare to test its upper resistance level of $2.0725. Negatively, if the bears dominate the crypto space, the GPU coin price will plunge toward its low of $0.7975.
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