Analysts Set Price Targets for EIGEN, CAT, and ETH
Release: 2024/10/02 00:14 Reading: 432
Analysts Set Price Targets for EIGEN, CAT, and ETH
BTC continues to slide away from its $67,000 target, while altcoins face ongoing declines. Cryptocurrency traders have lost their appetite for risk due to weak market movements over the past two quarters. For a recovery to occur, BTC must complete its correction to the $50,000 level.
Today, leading cryptocurrency experts announced updated price targets for EIGEN, CAT, and ETH. Let's explore their technical analysis:
EIGEN Token Price Target
EIGEN Token has impressed with its launch, sparking anticipation among investors. Altcoin Sherpa, a prominent analyst, discussed EIGEN in his latest market assessment. He anticipates significant upside potential for the token, comparable to the surge experienced by PEPE Coin.
"EIGEN should consolidate for a few days before replicating PEPE Coin's price action," said Altcoin Sherpa. "We'll closely monitor lower timeframes for an entry point. I believe EIGEN remains undervalued at its current market cap of $7 billion, raising the possibility of a price surge akin to TIA."
CAT and Ethereum (ETH) Insights
While some analysts have set bullish targets for lesser-known meme coins like CAT Coin, the broader weakness in the cryptocurrency market has hindered their growth. TraderSZ's chart suggests that CAT Coin could potentially rise to $0.00007, but this would require a breach above $0.000045.
ETH is at a critical juncture, having fallen below $2,560 due to the recent drop in BTC. The sharp rejection of BTC from resistance and the subsequent sell-off in altcoins highlight the lack of risk appetite.
Crypto analyst Yoddha shared the following chart, stating: "Complex technical analysis is unnecessary; ETH's next move is evident." According to Yoddha, a new rally towards $4,650 may be imminent.
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