More

    Top 3 Altcoins To Buy Before The Next Recovery Cycle Begins 

    Published 41 mins ago

    The cryptocurrency market has seen a slowdown in the aggressive buying activity observed in January 2023, causing most major cryptocurrencies to go sideways or retrace. However, this period of consolidation could revitalize the bullish trend and provide traders with opportunities to invest in the market. In this piece, we will examine some of the top altcoin cryptocurrencies that have the potential for substantial growth in 2023.

    Ripple(XRP)

    TradingView ChartSource- Tradingview

    The XRP coin price shows the formation of a flag pattern daily time frame chart. Thus, the ongoing correction in this coin is part of the aforementioned chart pattern meant to recuperate the bullish momentum.

    This minor retracement is led by two parallel trendlines extending downward and has tumbled the coin price by 11.45% in the last three weeks. By press time, the XRP coin traded at the $0.381 mark, with an intraday gain of 0.39%.

    Under the influence of the flag pattern, the XRP  price possesses a higher possibility of an upside breakout. This, a daily candle closing above the overhead trendline, will accelerate the buying pressure and signal the resumption of prior recovery.

    Therefore, in an ideal bullish scenario, the post-breakout really may drive the XRP price to the $0.5 mark.

    Chainlink(LINK)

    TradingView ChartSource- Tradingview

    The chainlink price is currently rising within an ascending channel pattern. Though this pattern carries a steady uptrend in the short term, the prices are poised for a strong downfall upon the breakdown of the support trendline.

    As of now, the LINK price trades at $6.95 with an intraday loss of 0.63%. Thus, a bearish breakdown below the pattern’s support trendline will trigger a minor correction. With sustained selling, the coin price could tumble at 22% to revisit a high accumulation zone of $5-5-$5.42.

    This support level has supported the LINK price for the past nine months and could offer a pullback opportunity to traders. Concerning the ongoing range-bound rally, the LINK Price is bound to revisit the $9.4 ceiling.

    Also Read: CRYPTO TELEGRAM CHANNELS LIST 2023

    Cosmos(ATOM)

    TradingView ChartSource- Tradingview

    In the last three months’ price action in the Cosmos coin, the daily time frame chart shows the formation of the cup and handle pattern. The ongoing correction in this coin is structuring the handle portion of this pattern, which should replenish the exhausted bullish momentum. 

    By the press time, the coin trades at $13.6, but with the current correction, it may revisit the $13 or $11.2 support. This pullback should stabilize the bullish trend and bring more buyers into the market, 

    Thus, the interest traders can buy at the aforementioned support or wait for the $15.46 neckline breakdown for extra confirmation. In a favorable bullish scenario, the neckline may lead the price to $22.6

    On a contrary note, a breakdown below $11.2 will offset the bullish thesis.

    The presented content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

    Close Story

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...

    bitcoin
    Bitcoin (BTC) $ 26,913.21
    ethereum
    Ethereum (ETH) $ 1,665.63
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 215.58
    xrp
    XRP (XRP) $ 0.532486
    usd-coin
    USDC (USDC) $ 0.999609
    staked-ether
    Lido Staked Ether (STETH) $ 1,667.03
    cardano
    Cardano (ADA) $ 0.249928
    dogecoin
    Dogecoin (DOGE) $ 0.061977
    solana
    Solana (SOL) $ 20.26
    tron
    TRON (TRX) $ 0.08976
    the-open-network
    Toncoin (TON) $ 2.21
    polkadot
    Polkadot (DOT) $ 4.08
    litecoin
    Litecoin (LTC) $ 66.29
    matic-network
    Polygon (MATIC) $ 0.5249
    bitcoin-cash
    Bitcoin Cash (BCH) $ 233.52
    chainlink
    Chainlink (LINK) $ 7.99
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 26,847.19
    shiba-inu
    Shiba Inu (SHIB) $ 0.000007
    dai
    Dai (DAI) $ 1.00
    true-usd
    TrueUSD (TUSD) $ 0.998645
    leo-token
    LEO Token (LEO) $ 3.67
    uniswap
    Uniswap (UNI) $ 4.39
    avalanche-2
    Avalanche (AVAX) $ 9.15
    stellar
    Stellar (XLM) $ 0.115232
    monero
    Monero (XMR) $ 146.19
    okb
    OKB (OKB) $ 43.10
    ethereum-classic
    Ethereum Classic (ETC) $ 15.91
    binance-usd
    BUSD (BUSD) $ 1.00
    cosmos
    Cosmos Hub (ATOM) $ 7.13
    hedera-hashgraph
    Hedera (HBAR) $ 0.049626
    filecoin
    Filecoin (FIL) $ 3.35
    lido-dao
    Lido DAO (LDO) $ 1.64
    internet-computer
    Internet Computer (ICP) $ 3.15
    crypto-com-chain
    Cronos (CRO) $ 0.05058
    maker
    Maker (MKR) $ 1,458.75
    quant-network
    Quant (QNT) $ 90.49
    mantle
    Mantle (MNT) $ 0.399013
    aptos
    Aptos (APT) $ 5.38
    vechain
    VeChain (VET) $ 0.016869
    arbitrum
    Arbitrum (ARB) $ 0.902209
    near
    NEAR Protocol (NEAR) $ 1.11
    optimism
    Optimism (OP) $ 1.33
    kaspa
    Kaspa (KAS) $ 0.048005
    aave
    Aave (AAVE) $ 65.86
    rocket-pool-eth
    Rocket Pool ETH (RETH) $ 1,810.55
    the-graph
    The Graph (GRT) $ 0.087266
    algorand
    Algorand (ALGO) $ 0.101735
    whitebit
    WhiteBIT Coin (WBT) $ 5.19
    usdd
    USDD (USDD) $ 0.998562
    blockstack
    Stacks (STX) $ 0.477348
    immutable-x
    ImmutableX (IMX) $ 0.576226
    frax
    Frax (FRAX) $ 0.999796
    xdce-crowd-sale
    XDC Network (XDC) $ 0.048464
    havven
    Synthetix Network (SNX) $ 2.06
    elrond-erd-2
    MultiversX (EGLD) $ 25.13
    eos
    EOS (EOS) $ 0.579014
    the-sandbox
    The Sandbox (SAND) $ 0.312388
    tezos
    Tezos (XTZ) $ 0.677706
    theta-token
    Theta Network (THETA) $ 0.640028
    bitget-token
    Bitget Token (BGB) $ 0.452399
    injective-protocol
    Injective (INJ) $ 7.48
    bitcoin-sv
    Bitcoin SV (BSV) $ 31.63
    axie-infinity
    Axie Infinity (AXS) $ 4.57
    radix
    Radix (XRD) $ 0.058177
    thorchain
    THORChain (RUNE) $ 1.96
    render-token
    Render (RNDR) $ 1.54
    decentraland
    Decentraland (MANA) $ 0.307279
    fantom
    Fantom (FTM) $ 0.192037
    neo
    NEO (NEO) $ 7.34
    gatechain-token
    Gate (GT) $ 3.73
    kava
    Kava (KAVA) $ 0.626943
    paxos-standard
    Pax Dollar (USDP) $ 1.00
    ecash
    eCash (XEC) $ 0.000025
    compound-ether
    cETH (CETH) $ 33.46
    flow
    Flow (FLOW) $ 0.448241
    pax-gold
    PAX Gold (PAXG) $ 1,864.82
    curve-dao-token
    Curve DAO (CRV) $ 0.520995
    tether-gold
    Tether Gold (XAUT) $ 1,849.78
    apecoin
    ApeCoin (APE) $ 1.22
    kucoin-shares
    KuCoin (KCS) $ 4.58
    frax-ether
    Frax Ether (FRXETH) $ 1,663.37
    rocket-pool
    Rocket Pool (RPL) $ 21.89
    frax-share
    Frax Share (FXS) $ 5.75
    iota
    IOTA (MIOTA) $ 0.151578
    chiliz
    Chiliz (CHZ) $ 0.059221
    first-digital-usd
    First Digital USD (FDUSD) $ 0.999318
    tokenize-xchange
    Tokenize Xchange (TKX) $ 4.93
    rollbit-coin
    Rollbit Coin (RLB) $ 0.118772
    huobi-token
    Huobi (HT) $ 2.41
    sui
    Sui (SUI) $ 0.480868
    gala
    GALA (GALA) $ 0.014227
    bittorrent
    BitTorrent (BTT) $ 0.00000038758084
    mina-protocol
    Mina Protocol (MINA) $ 0.375323
    klay-token
    Klaytn (KLAY) $ 0.114738
    terra-luna
    Terra Luna Classic (LUNC) $ 0.000062
    casper-network
    Casper Network (CSPR) $ 0.031614
    gmx
    GMX (GMX) $ 38.29
    dydx
    dYdX (DYDX) $ 1.94
    coinbase-wrapped-staked-eth
    Coinbase Wrapped Staked ETH (CBETH) $ 1,747.93