Ethereum and Dogecoin Show Bullish Signs, While Elluminex Gains Traction with Its TON Blockchain Use Cases

While the crypto market is generally struggling with a notable downtrend, price charts of some popular altcoins are showing bullish prospects.

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While the crypto market is generally struggling with a notable downtrend, price charts of some popular altcoins are showing bullish prospects. For instance, Ethereum investors are getting ready for the potential growth of the token as February draws closer, empirically the best month for an Ethereum rally. On the other hand, Dogecoin is set to rally amid news of Bitwise Dogecoin ETF filing.

Meanwhile, the Elluminex (ELX) project is making significant inroads into the crypto industry with smart use cases on the TON blockchain. So far, thousands of investors have bought the presale as the project’s economic trajectory is set to reach huge value growth by the end of Q1.

Let’s get into the details:

1. Ethereum draws closer to bullish season, Miles Deutscher says

Despite crypto prices being in the red, some tokens are showing bullish signs on the price charts. For instance, Ethereum investors are preparing for the token’s potential growth as February approaches, which has been the best month for an Ethereum rally.

As crypto analyst Miles Deutscher highlighted, the Ethereum token has recorded significant growth in February, with 8 of the last 9 February months seeing a bullish trajectory. Also, market stats show that Ethereum’s market volume has seen a significant uptrend in daily percentage growth, suggesting a growing momentum from investors.

Looking at the stats, it is likely that Ethereum will record another bullish February, making it a good investment option for those looking to add some ETH to their portfolio.

Further technical analysis from Tradingview shows that the Ethereum price is above the 50-day and 200-day EMA, with over 20 indicators flashing buy signals. The overall Ethereum market sentiment is bullish as it moves to break through the $2500 major resistance zone. A breakthrough might see Ether retest the $4000 mark, which it tested in December.

2. Ali Martinez projects a $15 price turn for Dogecoin amid ETF filing

A crypto analyst, Ali_Charts, is confident that Dogecoin’s ETF will see the meme coin reach a price value of $15. He made this known in an X post in response to the news of a Bitwise Dogecoin ETF filling.

According to sources, Bitwise and Rex Osprey have separately filed for Dogecoin ETF within the past two days, raising significant bullish prospects for the token. According to the market chart, Dogecoin’s price is bullish, gaining 8% within the past month.

With news of potential ETF, it is likely that Dogecoin will surge towards the ATH of $0.73, which has stood since May 2021.

3. Popular crypto analyst John Squire thinks that the Dogecoin crypto price can hit $2

While John believes that meme coins have what it takes to witness massive growth, the forecaster questions the sustainability of such growth. Meanwhile, Dogecoin technical indicators are green, and the Fear and Greed index is 75 (Greed). Once it breaks through the $0.40, it could target new heights.

4. Massive bullish breakout for Elluminex DeFi hub on TON Network

Elluminex is introducing a DeFi solution that will propel the TON Network to become a key player in the DeFi industry. The TON blockchain lacks a bridge protocol that will allow its users to trade assets across multiple blockchains. This has isolated the over 950+ million TON users to just within the blockchain.

With Elluminex, TON users can trade, stake, bridge, and track their portfolios across multiple blockchains. Elluminex is bringing a DeFi solution similar to the one that Uniswap brought on the Ethereum blockchain, and PancakeSwap brought to Binance Smart Chain. The DEX is optimized to handle the millions of transactions that will be executed on the TON Network.

Its advanced trading tools, like the AI-powered portfolio tracker, allow users to monitor and gain insights about the market condition, enhancing trading decisions that will result in profits. Users can also take advantage of the staking pools to earn rewards. With the OTC platform, users will have access to new projects before they are listed in exchanges.

All these are designed to allow for a seamless trading experience while boosting users’ profits. In view of the solution that Elluminex will bring to the TON blockchain, it has set the project on the path of huge price rallies. At $0.06, investors can buy the ELX presale at this nascent stage and position themselves for future rallies.

To learn more about Elluminex, visit the website, Twitter, and Telegram.