The cryptocurrency market entered a brief rally last week following the US SEC’s (Securities and Exchange Commission) spot Ethereum (ETH) ETF (Exchange Traded Fund) approval. Bitcoin (BTC) reclaimed the $71,000 mark after the ETH ETF approval but has since fallen to the $68,000 level.
While many called the ETH ETF approval a ‘sell the news’ event, there is a possibility that a market-wide rally will occur this week. Let’s look at three crypto assets that could surge this week.
Top 3 cryptocurrencies to watch this week
Ethereum (ETH):
ETH is currently up by 3.4% in the daily charts, nearly 26% in the weekly charts, 32.4% in the 14-day charts, and 25.3% over the previous month. ETH’s stellar performance in the past few days is likely due to its ETF approval.
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According to CoinCodex, the second-largest cryptocurrency will continue to trade at the $3,900 level for the next few weeks. However, ETH may break out of its current trajectory and surpass the $4000 mark.
Changelly also does not expect ETH to rally this week, predicting the asset to fall below $3,900.
Pepe (PEPE):
Pepe (PEPE) is currently the best-performing cryptocurrency in the weekly charts. The asset’s price has risen by 11.8% in the daily charts, 80.9% in the weekly charts, 94.6% in the 14-day charts, and over 140% in the previous month.
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According to CoinCodex, the frog-themed crypto will continue its bullish trajectory over the next few weeks. The platform anticipates PEPE to hit $0.00001965 on May 31, 2024.
Shiba Inu (SHIB):
Shiba Inu (SHIB) is another popular cryptocurrency that could rally over the next week. According to CoinCodex, SHIB could surge to $0.00002970 on May 31, 2024. Furthermore, CoinCodex predicts the asset to continue rallying over the next few weeks, hitting $0.00009375 on June 24, 2024.
