Top 3 cheap crypto to buy as Ethereum price goes parabolic

Ethereum price went parabolic on Tuesday, crossing the key psychological threshold of $4,500 for the first time since November 2021.

Ethereum (ETH) has advanced 218% from its April low, giving it a market capitalization of over $533 billion. This rally could boost top ERC tokens. This article examines some of the best low-priced crypto assets to consider as the surge continues.

Cheap crypto to buy as Ethereum price rallies

Ethereums price has strengthened due to ongoing ETH ETF inflowsand demand from Ethereum treasury companies such as BitMine, The Ether Machine, and SharpLink.

Historically, ETH price surge leads to more upside among most ERC tokens. Some of the most notable tokens to buy are Pepe (PEPE), Chainlink (LINK), and Ethena (ENA).

1. Pepe

Pepe chart | Source: crypto.news

Pepe is one of the best low-priced tokens to consider as Ethereum rallies because it is the second-largest meme coin in its ecosystem after Shiba Inu. The daily chart shows the token has remained above the 50-day and 100-day Exponential Moving Averages.

Pepe price has also broken above the ascending trendline connecting the lowest swings since March. The token will likely see a bullish breakout and could retest the resistance level at $0.00001628, which is 35% above the current price.

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2. Chainlink

LINK price chart | Source: crypto.news

Chainlink is another low-priced crypto to consider as ETH advances. It has strong technicals, having formed a double-bottom pattern at $11.

Notably, it has entered the third phase of the Elliott Wave pattern, one of the most bullish signals. It has also formed a golden cross, which occurs when the 50-day and 200-day Exponential Moving Averages cross.

The Relative Strength Index has risen to the overbought level of 70, while the Average Directional Index has climbed to 30. The token will likely continue advancing, with the next level to watch at $30.

Also, LINK price has strong fundamentals, with the total value locked jumping to over $93 billion.

3. Ethena

ENA price chart | Source: crypto.news

Ethena is another top crypto to buy as Ethereum price continues its bullish momentum. Its total value locked has jumped to a record high of $10 billion, a significant increase from the year-to-date low of $5.9 billion.

ENA has moved above the 50% Fibonacci retracement level at $0.7783, while oscillators continue to rise. It will likely extend its advance as bulls target resistance at $1.