thenewscrypto.com
- The cryptocurrency market has seen increased demand for Decentralized Physical Infrastructure (DePIN) tokens.
- Livepeer (LPT) has displayed a bullish price action, adding 87.95% to its portfolio since the month started.
- OriginTrail (TRAC) has reclaimed the $1 mark and formed a rounding bottom pattern, indicating increased buying pressure.
As the cryptocurrency market eagerly awaits the Securities and Exchange Commission’s (SEC) decision on the approval of the spot ETH ETF, the demand for Decentralized Physical Infrastructure (DePIN) tokens has surged.
These tokens have garnered significant attention from investors, leading to increased price volatility in the crypto space.
In this article, we delve into the top 3 DePIN tokens that have the potential to experience massive growth in their valuation during the upcoming Altseason.
Livepeer (LPT) Exhibits Bullish Momentum
Livepeer (LPT) has demonstrated a strong bullish price action since the beginning of the month, resulting in an impressive 87.95% addition to its portfolio. Moreover, the altcoin has recorded a 6.45% jump in the past 24 hours, accompanied by a substantial 134.79% increase in trading volume, reaching $169.24 million.
If the market pushes the price above the resistance level of $23.560, LPT could potentially test its upper resistance level of $27.50 this month. However, a trend reversal could cause the bulls to lose momentum and fall back to the support level of $20.150.
OriginTrail (TRAC) on the Brink of a Breakout
OriginTrail (TRAC) has achieved a significant milestone by reclaiming the $1 mark and forming a rounding bottom pattern in its price chart. This technical formation is indicative of growing buying pressure for the DePIN token, as evidenced by TRAC’s impressive 18.50% gain over the past seven days.
Should the bulls succeed in breaking out of the current pattern, TRAC’s price has the potential to rally towards its upper resistance level of $1.310 in the near term. On the other hand, if bearish sentiment prevails, the token could experience a pullback, possibly retreating to the lower support level of $0.770.
Node AI (GPU) Poised for a Potential Breakout Rally
Node AI (GPU) has demonstrated impressive growth, recording a 9% increase in value within the past 24 hours, coupled with a substantial 16.94% surge in trading volume, which now stands at $2.266 million. The altcoin’s price chart has formed a symmetric triangle pattern in the 1D time frame, with the price currently hovering near the resistance trendline.
If the bullish momentum persists and the price manages to break above the resistance trendline, GPU could potentially rally towards its upper resistance level of $2.8050. Conversely, if bearish pressure takes hold, the price could retrace back to its support trendline.
With the cryptocurrency market experiencing heightened price volatility in anticipation of the SEC’s approval of the spot Ethereum ETF, top altcoins are on the cusp of a potential rally, signaling an increasingly bullish sentiment among investors.