- Ethereum finds support at $2,700, gaining 8%..
- Uniswap historically outpaces Ethereum during bullish market phases.
- Arbitrum offers high upside as Layer-2 altcoin rally candidate.
The cryptocurrency market is starting to show signs of a shift, with Ethereum gaining momentum around the $2,700 mark after 8% rise.
While price moves have been choppy, one analyst has said that ETH has found solid support. If Bitcoin holds steady or climbs higher, it could set the stage for Ethereum and other altcoins to rally next. As the market sentiment improves, the analyst has listed several altcoins that could follow Ethereum’s lead:
Uniswap: Moves Faster Than Ethereum When Prices Rise
Uniswap (UNI) is one of the most popular tokens connected to Ethereum. Uniswap’s price usually moves in the same direction as Ethereum, but when the market turns bullish, it often rises even faster.
For example, if Ethereum goes up by 10%, Uniswap might climb 15% or more. This pattern has shown up many times over the past year.
Related: Markets Turn Green as $BTC, $ETH, $SOL, and $XRP Pump — Is This Just the Beginning?
Arbitrum: A Layer-2 Token with Big Bounce Potential
Arbitrum, a leading Layer-2 solution on Ethereum, was also mentioned as a high-upside bet. While Ethereum has been performing better than Arbitrum lately, past data shows that ARB can jump quickly when altcoins start rallying.
During a short altcoin surge last November, the analyst said that ARB jumped over 50%, while Ethereum gained around 30%. This makes Arbitrum a higher-risk, higher-reward option when the market starts to pump.
Render: Still Waiting to Catch Up
Render (RNDR) is another token based on Ethereum that focuses on decentralized GPU-based rendering for 3D graphics and AI projects. Even though it has strong long-term potential, its price hasn’t kept up with Ethereum in recent months.
But since it usually moves in the same direction as ETH, there’s a chance it could catch up, now that the market has turned bullish.
Related: Is Michael Saylor Dismissing the Future of Altcoins Too Soon?
Chainlink: The Strong Performer Among Altcoins
Chainlink (LINK) is one of the most reliable and well-used altcoins. It connects blockchain smart contracts to real-world data like weather, stock prices, or sports results.
Over the past year, Chainlink has outperformed Ethereum and several other altcoins. Thanks to its solid use case and growing partnerships with companies, the analyst sees LINK as one of the safest bets for the next altcoin rally.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
