Ethereum News Today: SEC's Bitwise ETF Delay Spotlights Altcoins, Traders Set Price Targets

The U.S. Securities and Exchange Commission (SEC) inadvertently highlighted a list of nine altcoins through its recent actions on a proposed Bitwise ETF, sparking speculation about potential investment opportunities amid a broader market dip. The ETF, which was initially approved and then paused, included Bitcoin alongside altcoins such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), all of which are now under heightened institutional scrutiny [1]. Analysts and traders are interpreting the SEC’s move as an implicit endorsement of these tokens, with technical indicators and price forecasts fueling discussions about their future performance.

Ethereum, the most prominent altcoin on the list, is approaching a critical resistance level dating back to 2021, a threshold that analysts view as a potential catalyst for further gains. Price targets for ETH range from $4,800 (its previous all-time high) to as high as $8,600, depending on broader market conditions [1]. XRP, the second-largest altcoin in the Bitwise portfolio, has recently broken out of two bullish chart patterns—a symmetrical triangle and a bull flag pennant—suggesting possible price movements toward $4.30 or even $5.17 in the near term [1]. Solana’s price chart shows a strong cup-and-handle pattern, a technical signal often associated with upward momentum, with analysts projecting targets of $410 to $511 [1]. Cardano, while lagging behind its peers in recent months, has a price target of $1.25, a level tied to its 2018 peak and historical resistance [1].

The watchlist also includes less-discussed altcoins with notable technical setups. SUI, backed by venture capital, is seen as a candidate for a $4 rally, while Chainlink (LINK) forms a bullish pattern with a $40 target, supported by its utility and leadership in the sector [1]. Avalanche (AVAX), when priced in ETH, exhibits strength despite mixed signals. Litecoin (LTC) and Polkadot (DOT) face challenges, with LTC historically underperforming Bitcoin and DOT struggling to regain past highs due to low user adoption [1]. Chainlink, however, stands out as a top pick among traders, driven by Wall Street’s growing interest and its technical resilience.

The SEC’s involvement in the Bitwise ETF has unintentionally provided a focal point for institutional-grade crypto analysis, with traders using the list to assess risk and opportunity during the current market downturn. While the price targets cited are based on technical indicators and analyst forecasts, investors are advised to approach such projections with caution, as market volatility and regulatory developments remain key variables. The incident underscores the SEC’s complex role in shaping crypto narratives, even when its interventions are indirect or unintended.

Source: [1] [title: Altcoins in Bitwise ETF Delay: Traders’ Watchlist and Price Targets] [url: https://coinedition.com/altcoins-in-bitwise-etf-delay-traders-watchlist-price-targets/]