Cryptocurrency Prices Are Up This Week: 5 Best Cryptos To Buy Before 2023

The cryptocurrency market has seen a recovery over the past two weeks. the Bitcoin, Ethereum and total cryptocurrency market capitalization increased by 3.81%, 6.94% and 2.84% respectively this week. But how far will this comeback take us in the short term?

Technical analysis and prediction of the total market capitalization of cryptocurrencies

The total capitalization of cryptocurrency market, which currently stands at $813 billion, is trying to break out of a 4-week range includes between $727 and $824 billion. With the movement of the past two weeks not confirmed by volume, a market correction could be imminent. Here’s why.

IRS

The RSI40 indicator, also called the relative strength index, has been very significant this year and this area has already served as support and resistance. At the time of writing, the total RSI of the cryptocurrency market is at 37.19. Traders should assume that a reaction around this area is very likely.

MACD

New, the volume slowly decreased and the indices of convergence and divergence of moving averages are close to each other. If this continues, traders should be alert for a possible drop in prices.

Supports and resistances

There are several key levels to watch in the total market capitalization charts of the cryptocurrency market. If the price manages to break out of the range of $727–824 billion and RSI40, the next target is to break through the $850-860 billion range. The RSI50 also remains to be regained. If the price goes further, traders should look for the EMA20 and the falling trendline for the next possible resistance.

Fundamental analysis of the cryptocurrency market

Powell’s speech

After Federal Reserve Chairman Jerome Powell hinted that the central bank would slow down its rate hike campaign, stocks largely rallied. The S&P 500 fell 3.09%, the Dow Jones Industrial Average 2.18% and the Nasdaq Composite 4.41%. The Russell 2000, which is made up of smaller companies, fell 2.72%.

Mr. Powell’s statements gave hope to investors that the central bank has finished raising rates and could even lower them if necessary. This optimism has driven up stock prices of big tech companies. These had been provoked as exposed to a risk of slowing down if the fed continued to raise rates. The optimism has in turn spread to the cryptocurrency markets.

Powell indicated in his speech to the Brookings Institution of Washington D.C. that the time to moderate the pace of rate hikes could come as soon as their December meeting.

A 43% drop in the S&P 500?

In a blog post, trader Jon Wolfenbarger said the market downside needed to be imminent due to the Fed’s rate hike policy. Furthermore, the S&P 500, to which the cryptocurrency market is closely linked, could drop 43% when the market bottoms out next year. Wolfenbarger suggests that risk-averse investors who want to wait for the market decline to end and an eventual recovery to begin should buy Treasury bills and floating rate notes that are relatively high and risk-free.

He adds that ETFssuch as the SPDR Bloomberg 3-12 Month T-bill ETF BILS and the WisdomTree Floating Rate Treasury Fund ETF USFR, will be well suited for this purpose.

Another good idea, he says, is to diversify your portfolio. If you want to invest in cryptocurrencies, it is recommended to give preference to cryptos with small capitalization and cryptos in presale whose fundamentals are solid.

Uncertainty linked to the drop in the crypto market

In a world in which a single tweet can incite or destabilize the market, it is essential to do your research and invest in cryptos that are backed by a team, have solid utility and funding. In this effect, we have compiled a list of 5 different cryptocurrencies that meet these criteria and are expected to take off in 2023.

Trade Dash 2 (D2T)

Dash 2 Exchange is an intelligence trading platform that helps investors get real-time analytics and social trading data. The D2T token pays for monthly subscription fees to use the Dash 2 Trade platform, which runs on Ethereum.

presale a permit has so far leveraged over $7.6 million. At the beginning of next year, it will be listed on BitMart and on the LBANK Exchange platform, which will give early investors the opportunity to make their investment profitable.

RobotEra (TARO)

NFTs or non-fungible tokens are part of any play-to-earn ecosystem and RobotEra use them wisely. In this game, you’re tasked with rebuilding the planet Taro, and that includes creating your own robot companions paired with NFTs as well as land for them to build bases on.

Companion bots are essentially digital assistants that can help players in multiple ways throughout their journey across the planet. Taro. The creation tools provided by RobotEra allow users to design and build their own custom robot, which can then be traded on the market.

Calvary (RIA)

type games”play to win” (P2E) often have difficulty recruiting new players and retaining current players. By having a free or “free-to-play” component, Calvaria allows users to discover cryptocurrency games without risk or investment. This approach allows players to play for fun while enjoying all the features offered by the P2E version. An added benefit is that they will be able to compare their winnings in real time with those of other players who have purchased the NFT card game, giving them an idea of ​​what they can win.

Calvary not only attracts new cryptocurrency players, but also entices them to stay for the long haul. This is essential to value the $RIA token. By playing the free version, players will fall in love with the game and will be more likely to upgrade to the paid version once they understand how it works. They are also more willing than average gamers to keep playing and investing in order to increase the value of their own NFTs.

IMPT.IO (IMPT)

IMPT is a blockchain-based platform which facilitates the purchase and sale of carbon credits. IMPT was created with the Ethereum blockchain with the aim of making the carbon credit market accessible to a greater number of users.

IMPT is a platform that uses NFTs to facilitate the buying and selling of carbon credits. It gives the opportunity to individuals and companies wishing to engage in protecting the planet to act more effectively. Thus, by a snowball effect, other individuals and companies will be encouraged to do the same.

IMPT is the native token of the project and investing in it is the best way to want to get involved. The digital asset is currently available for presale. In less than three months, more than $13.4 million have been collected. The first stage of the presale was done at the price of $0.023 per token and in the next stage the price will drop to $0.028.

IMPT is a great crypto for investors through ecological, social and governmental (ESG) investing. It allows investors to make profits while contributing to the protection of the environment.

Lucky Block (LBLOCK)

The project Lucky Block (LBLOCK) is the latest crypto-enabled lottery and gambling initiative. The online casino offers a wide range of games from over 100 game software vendors, including poker, slots and live casino games. LBLOCK describes itself as a platform where everyone wins, and they intend to implement a global lottery system through blockchain protocols.

Lucky Block allows users to easily fund their accounts using a credit or debit card. The company plans to add Google Pay, Apple Pay and other payment options in the near future. Lucky Block also has excellent customer service, which is a huge bonus. It is committed to helping its customers 24/7 via email and live chat.