Ethereum (ETH) experienced a parabolic surge on Tuesday, strongly breaking through the key psychological level of $4500, reaching a new high since November 2021! This round of the market has surged by 218% since the April low, with Ethereum's market cap exceeding $533 billion. Historical evidence shows that the surge of ETH often drives the recovery of ERC ecosystem tokens. This article delves into the most explosive potential low-priced cryptocurrencies under the backdrop of continuous fund inflows into Ethereum ETFs and institutional giants like BitMine accumulating ETH: leading meme coin PEPE, king of oracle Chainlink (LINK), and synthetic dollar protocol Ethena (ENA). Technical analysis shows that all three are on the verge of breakthroughs with considerable upside potential.
Ethereum's strong breakout above $4500 may usher in a good opportunity for ERC ecosystem tokens to catch up.
On Tuesday, the price of Ethereum showed a parabolic increase, successfully breaking through the key psychological resistance level of $4500 for the first time since November 2021. Since this year's April low, ETH has remarkably risen by 218%, pushing its total market cap above $533 billion. Historical experience shows that Ethereum's strong surge often boosts most ERC tokens within its ecosystem. The core driving force behind this round of increase is the continuous inflow of funds into spot Ethereum ETFs and the huge demand from 'Ethereum repository' strategy companies like BitMine, The Ether Machine, and SharpLink. For investors seeking low-priced high-potential targets, PEPE, Chainlink (LINK), and Ethena (ENA) are worthy of close attention.
Recommended Low-Priced Token I: The leading meme coin PEPE is poised to take off.
As the second largest meme coin in the Ethereum ecosystem after Shiba Inu, PEPE is one of the best low-priced tokens worth considering in this round of ETH's upward trend. Its daily chart shows a strong technical formation:
Key Moving Average Support: The price is firmly positioned above the 50-day and 100-day exponential moving averages (EMA), indicating a favorable medium-term trend.
Breakthrough of Upward Trend Line: The upward trend line connecting the lowest points since March has been effectively broken.
Upside Target: Technical indicators suggest a bullish breakout may occur, with the potential to retest the resistance level of $0.00001628, representing a potential upside of 35% from the current price.
Recommended Low-Priced Token II: The leading oracle Chainlink has strong technicals and fundamentals.
As Ethereum continues to strengthen, Chainlink (LINK) is another solid fundamental choice with a relatively low price:
Strong Technical Formation: A double bottom pattern has been successfully formed around $11, a classic bullish reversal signal.
Elliott Wave Theory: It has entered the third wave (the strongest wave in an impulse sequence), which is one of the most bullish technical signals.
Golden Cross Confirmation: The 50-day EMA has crossed above the 200-day EMA, confirming the commencement of a long-term upward trend.
Indicators are overbought but momentum is sufficient: The Relative Strength Index (RSI) has risen to the overbought region of 70, and the Average Directional Index (ADX) has risen to 30, indicating a strong trend with sustained momentum.
Fundamental Support: The total value locked (TVL) in the Chainlink network has surged to over $93 billion, demonstrating its ecosystem's prosperity.
Upside Target: Technical analysis points to the next key resistance level of $30.
Recommended Low-Priced Token III: The synthetic dollar protocol Ethena with record high TVL.
Ethereum's bullish momentum has also driven strong performance from Ethena (ENA), with impressive fundamental data:
TVL Surge: The total value locked (TVL) has soared to a record $10 billion, significantly increasing from this year's low of $5.9 billion, highlighting the surge in adoption rates and the appeal of the protocol.
Key Technical Breakthrough: The price has successfully risen above the 50% Fibonacci retracement level of $0.7783.
Positive Momentum Indicator: The oscillation indicator continues to rise, showing that buying power is dominant.
Upside Target: If bullish momentum continues, it is expected to attack the key resistance level of $1.
Conclusion: Ethereum's breakthrough of the $4500 mark and its new high in two and a half years signify extremely optimistic market sentiment. With continuous inflow of funds into Ethereum ETFs and institutions significantly increasing ETH reserves, historical patterns suggest that quality ERC tokens within its ecosystem are likely to see rotational gains. PEPE, as a leading meme coin, is on the verge of a technical breakout; Chainlink combines solid fundamentals with strong bullish technical signals, targeting $30; Ethena, with record growth in TVL and key level breakthroughs, also shows significant potential. Investors should closely monitor the technical breakthroughs and trading volume of these low-priced high-potential tokens while keeping an eye on the overall market volatility risks and the possibility of overbought corrections.
It's better to enjoy together than to enjoy alone. You reach out, and I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
