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Ethereum has been showing signs of a potential surge, sparking curiosity among investors. Questions have been raised as to whether it can reach $3,500 by the end of the year. In addition, three promising altcoins are set for significant gains, with the potential to grow by 200% by 2024. In this article, we look at the potential upside factors for Ethereum and reveal the altcoins that could lead the market.
Ethereum (ETH) is trading between $2,489 and $2,759.74, and the recent downtrend presents a unique opportunity for growth. Currently below the 10-day SMA of $2,643.81 and with an RSI of 29.89, ETH is in sold territory, suggesting a significant rally potential. A break above the $2,906.61 resistance level could trigger an 8% upside, while further upside could target the second resistance level at $3,177.25, potentially representing a 14.6% upside. Despite the 26.84% drop last month, sold conditions could set the stage for a significant recovery, making ETH a coin to watch for a possible surge as the year progresses.
Uniswap (UNI) is trading between $5.82 and $6.58, facing a tough market with a 23% drop this month. Despite the current bearish trend and weak bullish signals, there is a silver lining. If UNI can regain momentum, it could reach the first resistance level at $6.98, which represents a 10% upside. If monitored closely, a break of this resistance level could lead to further upside. The nearest support level in the downtrend at $5.46 is still important, but if UNI stabilizes, it could bounce back strongly. Keep an eye on these key levels as UNI targets a bounce.
Undeads Games (UDS) is currently trading between $1.28 and $1.78, and the recent rally suggests a potential upside. Despite struggling to break above the $2.04 resistance, the coin has seen a notable 24% gain in the past month. With the RSI at 48, the market is showing balanced sentiment, but a bullish breakout could see UDS head to new highs. A break above the $2.04 resistance could see it rally to $2.54, an impressive 40% gain. Holding above $1.02 is key, but the current setup suggests that UDS is primed for a strong finish by the end of the year if it can capitalize on the current uptrend.
conclusion
ETH has shown strong resilience and has the potential to reach $3,500 by the end of the year. UNI and UDS are poised for significant growth in 2024 and are looking for 200% gains. Market trends and positive investor sentiment are increasing confidence in these assets. A bull market in 2024 makes these targets more likely to be achieved. Each of these coins has its own unique strengths that make them attractive in the current market environment.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.
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