Top Three Crypto Assets in 2022

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Cryptocurrency markets have been relatively stable heading into the year-end holiday season.

According to Forbes estimates, the crypto winter resulted in a loss of over $116 billion in equity for seventeen investors and founders in the crypto space. The impact was so significant that ten investors were removed from the list of crypto billionaires. Is the bear market likely to continue or are there signs of improvement? By examining the charts of Bitcoin and two altcoins, we can try to determine the answer.

BTC/USDT

Bitcoin has been trading in a short range near its 20-day exponential moving average ($16,929) for the past few days, indicating a balance of strength between bulls and bears. This period of relative calm is unlikely to last and the BTC/USDT pair could soon see significant price movement in either direction. If the price breaks above the moving averages, it could hit $18,388 and potentially even $20,000. On the other hand, if the price breaks below $16,256, it could signal that the bears are under control and the price could fall to the key support level at $15,476. In the near term, the price is likely to stay in a range, with potential resistance at $17,061 and support at $16,256.

ETH/USDT

Ether has been trading near its 20-day exponential moving average ($1,228), which can serve as a resistance level. The 20-day EMA flattens the Relative Strength Index (RSI) near the midpoint, indicating a balance between buyers and sellers. If the price breaks above the moving averages, it could rally back to $1,352 and potentially even the downtrend line, although this level may act as resistance. If the price fails to break above the moving averages, it could drop all the way to strong support at $1,150, which could lead to a head and shoulders pattern and a potential drop to $1,075 and then $948.

TON/USDT

Toncoin consolidated in an uptrend, although the bears managed to resist the price rally to $2.90. However, the bulls haven’t given much ground, suggesting they may be buying lower. The rising 20-day exponential moving average ($2.25) and positive Relative Strength Index (RSI) indicate that the bulls are in control. If the price breaks above $2.50, the TON/USDT pair could rise to $2.65 and potentially retest $2.90. If the bears manage to push the price below the 20-day EMA, it could fall to the 50-day simple moving average ($1.91).

Conclusion

Cryptocurrency markets have been relatively stable heading into the year-end holiday season, indicating that both bulls and bears are hesitant to make large bets due to uncertainty over the direction of the market. This phase of indecision will not last long, as periods of low volatility often precede increased volatility.

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Disclaimer:

This article was written by Giottos Crypto Exchange as part of a paid partnership with The News Minute. Investments in crypto-assets or cryptocurrency are subject to market risks such as volatility and have no guaranteed return. Please do your own research before investing and seek independent legal/financial advice if you are unsure about investments.

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