This Friday, weakness in the dollar may have contributed to the boost the prices of Cryptocurrencies on the rise. In fact, crypto exchange investors remained cautious after US inflation numbers came in higher than expected. This, coupled with the uncertainty surrounding the upcoming FOMC meeting next week, has caused the dollar to fall and cryptocurrency prices to recover.
In fact, the cryptocurrency market staged a notable rally yesterday as it recovered 2.30% from the support level corresponding to the 0.382 Fibonacci retracement. Today, the markets are currently recovering. However, at the time of writing, Bitcoin is in the red 0.48% and the Ethereum of 1.31%. With the market cap trying to find its way back into the $860 billion zone, is the market trying to break through this key resistance zone?
Cryptotal Technical Analysis and Market Cap
EMA
Over the long term, prices remain bearish as the market continues to trade below EMA 50 and 100. But now some optimism might set in as the market has been trading steadily above the 20 EMA for the past two days.
ROI
Yesterday the Relative Strength Index (RSI) broke through the 50 RSI at 50.03 and is now oscillating 50.44RSI. It is important to hold this level for the next few days so that we can monitor a possible rise in the market.
MACD
The uptrend of the crossover MACD with rising moving averages is a sign that the market could go up. However, the narrowing of the gap between the two may be a cause for concern. In order to maintain this promising trend, the market must maintain its momentum and continue to grow.
supports and resistances
According to estimates, the Fibonacci retracements 0.236 and 0.382 were found to be significant over the past two weeks. Therefore, the $789-$804 billion levels are the immediate support for the overall cryptocurrency market cap. The market has so far broken the EMA 50 Daily Value which is in the $837 billion range and is now attempting to break the $850-$860 billion resistance level. If successful, it might be time to take some positions but with caution and a good risk management system as market volatility remains high.
Diversify your investment portfolio with upcoming cryptocurrency projects
It is crucial for every investor to protect their investment from risk. To do this, you need to use Stop Loss type orders. You need to be careful and diversify your investments even in volatile markets. By diversifying your portfolio, spread risk across multiple assets that may respond differently depending on market conditions. This way you avoid putting all your eggs in one basket.
This allows you to invest in asset classes such as stocks, bonds, commodities, and large-cap cryptocurrencies. You can also cautiously buy cryptocurrency projects in the pre-sale phase to take advantage of the introductory prices. In this sense, we have handpicked four cryptocurrency projects that are currently available for pre-sale and that demonstrate strong fundamentals and investor interest.
IMPT.IO (IMPT), presale ends in 2 days
The ecological cryptocurrency IMPT is committed to combating climate change by leveraging the transparency and efficiency of blockchain. The platform gives individuals access to thousands of brands that support climate action by donating a percentage of their profits from each sale.
It is therefore possible to buy, sell or withdraw CO2 credits on the platform. The pre-sale of the IMPT token is currently in the last few days, so investors should take this opportunity to participate in the action. To date, IMPT has raised nearly $17 million in presales, including more thana million dollars in the last 24 hours only. IMPT is showing no signs of slowing down despite the current bear market conditions for cryptocurrencies.
Dash 2 Trade (D2T): Presale ends soon
Dash 2 trading is more than just a cryptocurrency analysis tool. It is an information and analytics platform that provides forecasts, social analysis and trading signals to help traders make informed decisions. Dash 2 Trade strives to meet the needs of all investors, whether beginner or experienced, large corporate or small trader.
It is the ideal solution for traders of all levels looking to improve their strategies. The platform will provide a range of services such as B. formulating and analyzing trading strategies, reading cryptocurrency news and gathering insights from blockchain analysis. Until now, the presale of D2T allowed to Raise $9.2 million in 4 stages and is currently in the final stages with 70% of the fundraising goal.
Calvary (RIA)
calvaria is a web3 game This allows players to strategically collect, trade, and battle with cards based on NFT technology. Unlike other Web3 games, you don’t need to hold cryptocurrencies, which might make it more popular with cryptocurrency newbies. The RIA token can be used to trade in the game’s marketplace and can be stacked, which encourages users to keep the token. So far, the pre-sale has raised $2.38 million and is currently in Phase 5, the final one before launch.
Robot Era (TARO)
RobotErais a Metaverse project Ethereum-based bot-centric gaming platform that allows users to buy land and engage in various interactive experiences. The main advantage is that no programming knowledge is required for developers who want to design their own games or experiences. Users will also be able to generate in-game revenue through various means such as staking or staking $RIA tokens.
At the moment, the first presale phase of TARO tokens by RobotEra raised a total of $465,000.