With the growing anticipation of the approval of the spot ETH ETF by the Securities And Exchange Commission (SEC), the cryptocurrency market has experienced an increase in the demand for the DePIN tokens.
This has resulted in these tokens gaining significant attention from the market and further experiencing a constant increase in price volatility in the crypto space.
Dive in as, in this article, we have covered the top 3 Decentralized Physical Infracture (DePIN) tokens that have the potential to record a massive surge in their valuation during the upcoming Altseason!
The LPT price has displayed a bullish price action since the month started, resulting in it adding 87.95% to its portfolio. Moreover, the altcoin has recorded a jump of 6.45% with a trading volume of $169.24 Million, a jump of 134.79% within the past 24 hours.
Positively, the Livepeer price has formed an ascending channel pattern in the 1D time frame, highlighting increased bullish sentiment for the altcoin in the crypto market.
On the other hand, the technical indicator, MACD, shows a constant green histogram with its averages recording upturned in the price chart, suggesting a positive outlook.
If the market pushes the price above the resistance level of $23.560, the bulls will prepare to test its upper resistance level of $27.50 this month. Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $20.150.
The TRAC token has successfully reclaimed the $1 mark and has formed a rounding bottom pattern in its price chart. Further, it is on the verge of a breakout, highlighting increased buying pressure for the DePIN token in the crypto space. Positively, it has added 18.50% over the past seven days.
The Simple Moving Average (SMA) supports the price chart in the 1D time frame, indicating a strong bullish influence for the altcoin in the market. Further, the MACD displays a rising pattern with its averages showing a positive curve.
If the bulls display a breakout pattern, the TRAC price will be prepared to test its upper resistance level of $1.310 in the coming time. Negatively, bearish price action could result in the OriginTrail price testing its lower support level of $0.770.
The GPU price has added approximately 9% within the past day with a trading volume of $2.266 Million, a jump of 16.94%. Furthermore, it has formed a symmetric triangle pattern in the 1D time frame and is hovering close to its resistance trendline, the outcome of which is uncertain.
Moreover, the altcoin has added 8.63% over the past week and has surged 2,718% within the past 3 months from its ATL of $0.054 which was recorded on 23rd February. This highlights a rising interest of investors in these tokens.
If the bulls break out of the resistance trendline, the GPU price will prepare to test its upper resistance level of $2.8050. However, bearish price action could pull the price toward its support trendline.
With the increased price volatility in the crypto space amid approval of the spot Ethereum ETF, top altcoins are on the verge of a rally, indicating an increase in the bullish sentiment.
Thus this situation creates a good entry point for new investors to invest in the cross-border financial system and old investors to stack more tokens for the upcoming altcoin rally.
Also Check Out : Decoding the Possibility of Ethereum (ETH) Price Reaching a New ATH After the Spot ETF Approval!
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