Negative macroeconomic data has not caused long-term damage to cryptocurrency markets, with altcoins remaining strong. The fact that the Ethereum price has moved the annual ATH region upwards is promising. On the other hand, lower market cap altcoins have seen faster price increases. So what does the current outlook indicate?
Loopring (LRC) Coin Price Prediction
LRC Coin, also traded on the Binance exchange, reached $0.197 with a rally that started on October 20, 2023. After a 121% increase in price over 70 days, it gave back more than half of its gains but is now recovering after the BTC correction. At the time of writing, the price has rebounded from the $0.208 bottom to $0.265.
If it can turn $0.264 into support, investors can aim for $0.3575 again after $0.29 and $0.318.
Ethereum (ETH) Price Prediction
The king of altcoins, Ethereum, is finding buyers at $2,931 at the time of writing. The altcoin, which struggled to surpass $1,900 months ago, owes a significant part of its rally to ETF applications. The current optimism is primarily due to the upcoming spot Ethereum ETF decisions in May and the Dencun update on March 23.
Unlike previous numerous updates, this hard fork is expected to reduce layer2 transaction fees by 90%, which increases the appetite of the bulls. While Solana and other low-cost networks host a massive number of users, Ethereum is not falling behind. If Ethereum’s layer2 solutions can compete with networks like Solana, it will open the door to faster growth in its ecosystem. Naturally, an increase in the network’s value along with the price of the altcoin is expected.
In addition to the performance improvement supporting the price, the approaching ETF decisions and the potential attractive role of ETH staking income for ETF investors could lay the foundation for a strong rally story.
In the last three weeks, the price has increased by approximately 30%. Moreover, we haven’t seen such bullish candles on the weekly chart for a while. The rally is likely to continue, and the first main target is $3,182. Then, aiming for $3,586 and $4,108 is possible.
To better understand the potential, it would be useful to look at the ETH price’s situation in BTC parity. The price is still at June 2022 levels and at the bottom. If it reaches the 0.085BTC peak, Ether should already be worth $4,160 based on the current price.
ONDO Coin Commentary
We said the ATH was coming, and it finally arrived. ONDO Coin price reached up to $0.34. If the $0.32 region can be maintained as support, a new peak up to $0.5 is likely. Although it is difficult to pronounce a clear target at the moment, a drop to $0.28 and $0.25 could be seen if it closes below support.
At the time of writing, the price was at $0.338.
