Major cryptocurrencies have pulled back sharply from earlier intra-day highs, but the bullish trend of the last few days remains strongly intact, with the likes of Bitcoin breaching key resistance to the upside and opening the door to further gains in the coming days and weeks.
Specifically, Bitcoin breached key resistance in the low-$25,000s on Tuesday, rallying as high as the mid-$26,000s before pulling back to current levels in the mid-$24,000s. That means the door is now open to a retest of resistance in the $28,000 area.
US stock markets continue to struggle on concerns about the US banking system’s perceived fragility and amid expectations that the Fed will, despite this, keep adding to risks by pressing ahead with rate hikes, even if less hikes are now expected. That could be a headwind to crypto.
But narratives about crypto’s advantages over the existing fiat/banking financial system could keep the likes of Bitcoin supported as a sort of “safe haven”, much like how gold would be expected to perform well (investors moving into hard money).
Investors looking for alternatives to the major coins might want to consider a few of the altcoins listed below that have been, or are likely to do very well in the future.
Conflux (CFX) – A Retest of February Highs Likely
While the cryptocurrency has pulled back aggressively from earlier session highs in the $0.33s per token, Conflux (CFX) continues to make impressive progress back toward’s last month’s highs in the $0.367 area.
At current levels near $0.29, CFX is up another 11% on Tuesday, taking its gains since last week’s bounce from the 50-Day Moving Average in the $0.1450 area to over 110%. Bulls will continue to target a near-term test of the February highs.
Love Hate Inu (LHINU) – New Viral Presale
Love Hate Inu (LHINU) is a viral new dog-inspired meme coin that will power the soon-to-be-released vote-to-earn (V2E) social polling platform that goes by the same name. To fund the development of its new platform, Love Hate Inu is conducting a presale of its LHINU tokens and the presale already ranks as one of 2023’s hottest.
The social media meme coin start-up has already managed to raise a whopping $600,000 in less than a week since the presale’s launch. This reflects how the project has been going viral on social media – since @LoveHateInu’s first tweet less than a week ago, the page has garnered a huge 34.3K followers.
Investors are hyped by the project’s potential given that it is currently one of the only existing vote-to-earn platforms, and combines the virality of meme coins and discussion of the world’s most viral/controversial topics.
Synthetix (SNX) – Could See Another 50% Surge
Synthetix (SNX), which is currently trading around $3.0 per token and up around 50% versus last week’s lows near $2.0 per token, appears to be on the verge of a big breakout. If it can press above resistance in the $3.30 area, a rapid surge towards support-turned-resistance in the $4.40s area looks to be on the cards. That could further quick gains in the region of 50%.
Fight Out (FGHT) – Over $5.4 Million Now Raised
Fight Out is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges, and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
Fight Out is currently conducting a presale of the FGHT token that will power its Web3 ecosystem and has already raised a whopping more than $5.4 million. The token is scheduled to list across centralized exchanges in April at $0.033 per token.
Investors should move quickly as if they secure tokens now, they could be sat on paper gains of nearly 30% by the time the crypto token lists on exchanges at the start of Q2. Investors should be aware that, depending on how many tokens they buy and for how long they choose to vest them, they could get a whopping up to 67% bonus.
Investors can also get an additional 5% bonus on all the tokens purchased by those who used a referral link. Fight Out is also conducting a $250,000 giveaway.
Optimism (OP) – Could Soon Test Record Highs
Optimism (OP), the token that powers high-performance Ethereum layer-2 scaling solution Optimism, could be on the verge of hitting record highs. The cryptocurrency is up around 50% from last week’s lows in the $1.80 per token area and is currently changing hands near $2.70.
It recently broke back to the north of its 21 and 50DMAs, opening the door for a retest of the record highs hit back in February in the $3.25 area. A break above here could open the door to a swift jump towards $3.50.
Metropoly (METRO) – Crypto Start-up Looking to Transform Real Estate Market
Metropoly has an ambitious goal – to transform the real estate market by democratizing access to real estate investment. How? By building the world’s first marketplace for real estate non-fungible tokens (NFTs).
And these NFTs aren’t for digital real estate in some metaverse. These tokens represent a real ownership stake in a real property, that Metropoly will also be renting out so that owners can earn a passive income.
Metropoly is currently conducting a presale to fund its ongoing development and has now raised an immense more than $825,000. The start-up has already released a beta version of its platform, which already looks great and is proving very popular.
The barriers to traditional real estate investment around the world are huge. Metropoly hopes its platform can level the playing field, with investors able to start owning property with as little as $100. Presale investors should note that stand a chance at winning a portion of Metropoly’s massive, industry leading $1 million giveaway.