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With reports of larger changes in the approval of the ETH Spot ETF, the price of ETH, along with the other cryptocurrencies, skyrocketed to reach further resistance.
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Lido DAO and Pyth Network Prices Lead Top Performers as Prices Have Posted Double-Digit Gains
Just a few hours ago, markets were stuck within a bearish consolidation as Bitcoin price was stuck within a range of around $67,000. Many believed that the price could maintain a healthy upward consolidation and reach $71,000. However, with the Ethereum spot ETF approval rounds approval, market participants seem hopeful about the next trend. Meanwhile, altcoins like LDO and PYTH have risen magnificently and could soon hit new highs.
Lido DAO (LDO) Price Analysis
- Regardless of the downward pressures, the LDO price has been trading within a rising wedge pattern resulting in a minor pullback being achieved
- However, the price has not yet re-entered the range, but the latest jump with minimal bearish pressure has narrowed the distance.
- Furthermore, the Stochastic RSI on the weekly chart has started a bullish bounce, suggesting that the price may maintain a healthy rally going forward.
- The price has broken above $2.2 and if a rise above $2.5 stabilizes before the end of the day, then a fresh rally may start marking new yearly highs above $4.
Pyth Network (PYTH) Price Analysis
- He Pyth Price It has risen above the descending parallel channel and is about to enter the crucial zone that has been acting as a support and resistance zone since the beginning.
- The RSI has bounced from below and is about to mark the mid levels, indicating a continued rally.
- However, a rise above the bearish influence may be validated once the levels enter, hold and consolidate, which may lead to a rise to $0.7.
- Furthermore, if the bulls fall weak, then PYTH price may re-enter the parallel channel and constantly try to overcome the overhead resistance.
See also: Major Altcoins Will Accumulate as Bitcoin Price Starts a New Rally!
