Ethereum (ETH) $0.000119 has maintained its position around $2,000 after losing its rising support line at the end of February, yet struggles below the $2,800 mark. This level is crucial from both psychological and technical perspectives. Despite this, some Ethereum-based coins, namely Optimism (OP), Lido DAO (LDO), and Ethereum Name Service (ENS), are showing signs of a bullish trend. Investors are currently focusing on the pace at which these three altcoins overcome critical resistance levels.
Optimism and Lido DAO Show Promising Uptrends
Optimism’s price faced a heavy selling pressure, sinking to its historical lows. However, lately, sellers have weakened. The Money Flow Index has recovered from its low, and the On-Balance Volume indicator leans towards buying. Analysts suggest a candle closure above $1.20 could accelerate momentum, potentially opening a path to the $1.94–$2.03 range, and a run towards the parabolic recovery curve’s neckline at $2.80 may alter the entire scenario.
On the other hand, Lido DAO has sustained investor confidence by maintaining a strong support line since inception. The price has breached the turning line of the Ichimoku cloud, and the Relative Strength Index indicator has tilted upwards. This indicates a potential “golden cross” formation within the cloud. A surge above $2 could propel the price up to $5, achieving a potential rise of up to 80%.
Ethereum Name Service Tests Its Critical Resistance
Since the beginning of the year, Ethereum Name Service has displayed a vibrant upward trend. The altcoin ’s price has repeatedly defended its rising trend line, proving the continued presence of buyers. Now, hitting a hard resistance at the 200-day moving average, ENS coin is at a decision point in the short term.
In the DMI indicator, the -DI and +DI lines diverging in opposite directions suggest a diminished chance of further decline. A break upwards of the 50-day average could bring a potential target of $30 back into focus once the W pattern’s neckline is breached. Breaking the resistance could fuel market enthusiasm, allowing ENS to regain prominence within the Ethereum ecosystem.
