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The cryptocurrency market has started the month of July on a strong bullish note by adding over 4% to its global valuation within the past 24 hours. Moreover, the altcoin leader, Ethereum price, has regained momentum and jumped 3.26% within the past day.
Following in their footsteps, the ETH-based tokens have displayed a similar trend by gaining significant value in their respective portfolios. With the rising bull sentiment, will these altcoins overpower top cryptocurrencies this month?
Let’s go as, in this article, we have covered the price analysis and long-term targets of the top 5 Ethereum-based altcoins that have the potential to record significant gains this month as market sentiments have turned bullish.
OriginTrail (TRAC):
After successfully retesting its support level of $0.60, the TRAC price has successfully regained momentum and has recorded a jump of 10.82% within the past day with a change of +63.98% in its trading volume. Moreover, the altcoin has surged 30.79% within the past week and has a YTD return of 17.05%.
The technical indicator, MACD, displays a constant rise in the green histogram, indicating an increase in the buying-over-selling pressure in the crypto space. Moreover, the averages show a positive pattern, suggesting the price will continue gaining value in the coming time.
Moreover, the Simple Moving Average (SMA) constantly acts as a support to the price chart in the 1D time frame, suggesting increased bullish sentiment for the TRAC coin price.
If the market holds the OriginTrail price above the support level of $0.770, the bulls will regain momentum and prepare to test its upper high of $1.132. Conversely, a bearish reversal could pull the TRAC price toward its low of $0.60 this month.
PepeCoin (PEPECOIN):
Launched on the Ethereum chain back on 15th April following the memecoin mania by the pioneers and visionaries in the year 2016. This project has introduced an entertainment OS-style app ecosystem. This integrates DeFi, games, unique NFT experiences, and cutting-edge memetics.
With a trading price of $3.52, a circulating supply of 115,752,038 PEPECOIN, and a total supply of 133,769,419 PEPECOIN tokens, this altcoin has secured the 208th position in the global crypto-list with a market capitalization of $407.441 Million.
Positively, the memecoin has recorded a jump of 7.64% within the past day with a trading volume of $4.64 Million. Furthermore, it has added 27.26% within the past week. Despite recording a drop of 35.62% within the past 30 days, it has experienced a YTD return of 386.20%.
Beam (BEAM):
Amid increased price volatility in the crypto space, the BEAM crypto has recorded a jump of approximately 10% within the past day with a 100% surge in its trading volume. Moreover, the altcoin has added 6.60% over the past week, indicating a rising bullish sentiment in the crypto space.
The Relative Strength Index (RSI) has successfully retested its oversold range, resulting in the altcoin recording a sharp rise in its price chart. Moreover, the average has experienced a bullish curve, suggesting a positive outlook for the BEAM price this week.
If the Beam coin price continues trading under a bullish sentiment, it will prepare to test its upper resistance level of $0.028330. However, in case of a bearish reversal, the altcoin will drop toward its crucial support level of $0.013911.
SafePal (SFP):
SafePal is a cryptocurrency wallet launched in the year 2018 with a primary aim to help its users protect and grow their digital assets. Built on the BNB Smart Chain (BEP20), SafePal provides both software and hardware wallets, all paid and operated through the SafePal app.
Its native token “SFP” has displayed a bullish price action since the year started, indicating a bullish sentiment for the altcoin in the market. Notably, it has added 17.02% within the past seven days and has a Year-to-Date (YTD) return of 10.84%.
UNCX Network (UNCX):
Despite recording a drop of approximately 1% in its trading volume, the UNCX price has added 4.12% to its portfolio within the past day and 5.33% over the past seven days. Moreover, the altcoin has surged 6.92% within the past 30 days and 43.57% this year.
The EMA 50-day acts as a support to the UNCX price chart in the 1D time frame, suggesting a strong bullish sentiment for the altcoin in the cryptocurrency market.
On the other hand, the technical indicator, MACD, shows a constant decline in the red histogram. Moreover, the averages display a potential bullish convergence in its price chart, suggesting a positive outlook for the altcoin this week.
Suppose, the bulls continue to dominate the crypto market, the UNCX Network price will prepare to test its upper resistance level of $396.5 this month. Conversely, if the bears overpowered the bulls, the UNCX crypto will plunge toward its low of $311.
