At the time of writing, the crypto market has been rocked by major coins dropping to weekly support ranges. However, although it seems that the sentiment is still negative, with major digital currency assets losing a good percentage of their value, some glow green in almost every time frame, according to Quinceko.
These five cryptos are ready for a possible short-term breakout. With macroeconomic indicators showing a improve situation in some regions, these cryptos are expected to make a surprise rally in the last days of February.
TRON, as an ecosystem, is booming. According to them official site, it currently has 143 million accounts backed by nearly 5 billion transactions. TRON claims it is the fastest growing blockchain in the market.
Image: The Daily Hodl
CoinGecko is seeing strong growth in almost all time frames with the largest gains made in the monthly time frame at almost 16%. This shows that the bulls are in control of the market. The token’s support at $0.06871 would provide investors and traders with an opportunity to continue the token’s current market movement.
AI Cryptos makes the grade
Artificial intelligence has gained in utility. AI-related tokens are also seeing strong bullish sentiment, with the market capitalization of all AI tokens reaching nearly $2 billion today. FET is one such token, boosted by the recent Partnership with Fetch.AI and Bosch.
We are delighted to announce that @Fetch_aiin collaboration with our partner @BoschGlobalform a new https://t.co/kJ9URVpOul Foundation to stimulate the development of #industrial apps based on #AI And #Web3 technologies!
👉 https://t.co/w1JDSrG2lo pic.twitter.com/AuL6S1RuSL
— Fetch.ai (@Fetch_ai) February 21, 2023
Due to this, the token rose by 10% during the weekly time frame. The token’s current resistance at $0.4097 is the only thing stopping any further bullish movement. Investors and traders should focus on breaking this resistance to continue its price growth.
SingularityNET’s governance token takes another spot in the list. As it continues its journey towards creating general artificial intelligence, AGIX, the governance token of the ecosystem, has been on an upward trend lately. Current the data shows that the token is showing gains in all time frames, with the biggest surge being almost 150% in the month.
At its current price of $0.4250, AGIX continues its bullish price movement that it started with in early 2023. This would allow investors and traders to enjoy short to medium term gains.
On-chain developers help raise the price
Chainlink’s role in the massive crypto industry as an on-chain and off-chain data bridge has supported LINK’s growth over the past few months. The token is currently up 7% on the weekly timeframe, which is supported by recent chain developments.
LINK is currently changing hands at $7,540, which is close to its support line at $7,520. The long-term outlook for the token should be bullish if the current support holds. Investors interested in this token should monitor its current support before making a major decision.
Crypto total market cap at $1 trillion on the weekend chart | Chart: TradingView.com
The LIDO DAO has been to advance further decentralize the network. The DAO published a blog post about the upgrade on February 7, affecting the price of LDO, the network’s governance token. According CoinGeckoLDO rose 12% last week.
Today, Lido contributors are proud to present Lido V2 – Lido’s biggest update to date and an important step towards greater decentralization. https://t.co/SDxlxCgMNq pic.twitter.com/KJewhEp8rV
—Lido (@LidoFinance) February 7, 2023
At the time of writing, the token is not correlated with major plummeting cryptocurrencies. The uptrend displayed is supported at $2.771. If confirmed, the token would have a launching pad to target higher highs in the days or weeks ahead.
– Featured image from Yahoo!