A crypto analyst predicts the Ethereum price will reach $7,800 in the next few weeks. This prediction is based on several potential bullish patterns in the ETH price chart, which could mean a 132.7% increase. If the Ether price rises as expected, some tokens within the ETH ecosystem will also likely rise. Read more for the best Ethereum tokens to buy if ETH hits $7.8k.
Why Ethereum price might hit $7,800 soon
Cryptocurrency analyst Alifer recently shared an optimistic Ethereum price forecast on Twitter, setting a price target of $7,800 based on market patterns.
The analyst pointed out a three-year-long pennant shape in Ethereum’s price, showing clear resistance and support levels.
If Ethereum (ETH) closes above the resistance level of $4,100 for a week, it would confirm a bullish trend. Conversely, if it closes below the support level, this upward trend may not happen. If the bullish conditions are met, Ethereum prices could reach $7,800.
Alifer also mentioned a possible inverted head and shoulders (IH&S) pattern, with important price points at $2,800 and $2,200. The right shoulder is expected to form after a retest of the $3,000 to $2,800 range, which aligns with a multi-month demand zone and an unfilled weekly fair value gap.
To confirm the trend, the Ethereum price needs to close above $4,100 after the right shoulder forms. Entry points are suggested between $2,800 and $3,100, with profit targets set at $6,000 and $7,800.
Top Ethereum tokens to buy if Ether surges
When the price of Ethereum goes up, tokens built on its network might also rise in value. Here’s a list of Ethereum tokens to consider buying if the price of Ethereum increases as expected.
JasmyCoin (JASMY)
JASMY is one of the biggest Ethereum tokens, with a market value of over $1.66 billion. According to Coinmarketcap, it ranks 67th among all cryptocurrencies by market capitalization.
JasmyCoin is a Japanese cryptocurrency that gives users control of their data. It combines the Internet of Things (IoT) with blockchain technology to create a safe, decentralized way to manage personal information.
The JASMY token is used for payments, transactions, and rewards within its ecosystem, encouraging users to share their data willingly.
Currently, JasmyCoin (JASMY) trades for $0.03373, down 99.33% from its highest price of $4.99, reached on February 16, 2021. However, an upcoming alt-season peak and a possible rise in Ether’s price could enhance the JasmyCoin price.
A crypto analyst has pointed out that the JASMY price has formed a cup-and-handle pattern on the weekly chart. This pattern is usually seen as a sign of future growth and suggests a target price of $0.60, meaning a potential gain of 1,381.34% from current levels.
Shiba Inu (SHIB)
Shiba Inu is one of the largest Ethereum tokens and the second-largest memecoin in the crypto market. This token, created by the community, launched on the Ethereum network in late 2020 and saw significant gains during the 2020/2021 bull run.
Since its launch, the Shiba Inu price has increased by 1,640,789.81%. There is still potential for further growth as the token develops various ecosystem products, giving it more uses beyond being just a meme coin.
The SHIB token is now accepted as payment at many locations. Due to its burn mechanism, Shiba Inu (SHIB) is a strong choice among Ethereum tokens to buy. In the last 24 hours, Shibburn data shows a 335% increase in SHIB tokens burned compared to the previous day.
Data shows the SHIB price remains sandwiched between critical resistance and support zones, indicating a consolidation phase. The Oblique Minor Resistance at $0.000023 and the 50-day SMA at $0.000023 act as immediate barriers. A breakout above these levels could pave the way toward the next target at $0.000025, which aligns with the recent swing high.
Ethena (ENA)
Ethena is a cryptocurrency that operates as a decentralized finance (DeFi) protocol on the Ethereum blockchain. It offers a synthetic dollar called USDe, which provides a stable and reliable digital currency without depending on traditional banks.
The ENA price has increased significantly recently. In the last 30 days, it rose by 28.42% and has climbed 364.75% from its all-time low of $0.1953 just four months ago.
Cryptocurrency analyst TraderPA’s latest market analysis on X shows a positive outlook for the Ethena token. They highlight the psychological resistance at $1.50 as a key level to watch.
The current price trend and trading patterns suggest that a rise is likely. If ENA can reach $1.50, it would represent a potential gain of 65.33% from its current price. This would position Ethena as one of the top Ethereum tokens to buy before Ether prices increase, benefiting from multiple market drivers.
Read more: BONK Burns 1.8% Token Supply—Is $4 Billion Market Cap Possible?
