Follow these 7 coins to become a cryptocurrency millionaire on the next Bull Run!!! | Edge Money | Coins | December 2023
Amid the roller coaster ride between Bitcoin and its altcoin peers, I’ve been exploring the fascinating world of altcoins this week that has piqued my curiosity, while also exploring the quest to uncover valuable opportunities during these market declines.
Coin 1: INJ
Rising Injective Protocol Meet Injective Protocol (INJ), an unsung hero despite its incredible achievements. 939.7% Soaring this year.
INJ may have taken a back seat in recent talks, but it is an unheralded powerhouse, especially as it holds steady around the important support level of $15.60.
Throughout the year, INJ has proven its mettle by establishing a strong presence in the market.
A potential bullish flag has formed on the daily chart, signaling a promising break above the $17 level.
If this unfolds, brace yourself for a sharp rise towards recent highs of $19, and perhaps even as high as $24 in some markets.
INJ remains firmly on my radar this week.
Coin 2: PYTH
Unraveling the Python Network Story Join Python Network (PYTH), a rising star now valued at $4 billion, fully diluted.
After a stellar launch on the Solana blockchain, PYTH quickly entered the top 100 of the FDV top 50 companies by market capitalization.
PYTH, which functions similar to an oracle similar to Chainlink, offers real-time data across 40 blockchains and is emerging as a real contender.
Despite lagging behind in market capitalization, PYTH’s FDV is 3.5x that of Link, and with only 15% currently in circulation, a significant portion of its supply is still private.
The buzz surrounding Oracle carries a lot of weight, especially when it relates to the actual assets I’m heavily investing in.
While Chainlink is dominant, the emergence of competitors like PYTH warrants attention.
However, amid all the airdrop hype, we advise caution, especially as the spotlight shifts to Jupiter.
For current PYTH holders, it may be wise to hold, but a cautious approach to position expansion is recommended unless a clear downward trend emerges.
Although upside potential exists, I prefer to read market reactions and trends before jumping further into investing.
Coin 3: Superbus
Superverse — Crypto Gem of Gaming Superverse rides the wave of explosive growth in cryptocurrency gaming and seems to be a trend that will have a lasting impact.
Debate continues over the readiness of cryptocurrency gaming for its big leap, with skeptics questioning its sustainability due to the limited array of active games.
Your view differs from the prediction that it will probably not take until 2024 to see a sudden influx of gamers adopting cryptocurrency gaming.
But you recognize the power of stories among retail investors.
We expect retail investors to embrace this narrative as other cryptocurrency assets, especially speculative future assets focused on easily digestible topics such as AI, memes, and gaming.
From your perspective, gaming represents the latest magnet for retail interest, making gaming cryptocurrencies difficult to overlook once retail investors flood the market.
Analyzing the Superverse specifically, the charts show an interesting pattern. After breaking first resistance at 24 cents and surging to 51 cents, it is currently undergoing a significant retracement.
Despite the recent hype, we could see further upside and potentially a retest of recent highs, especially with the LEO joke hype.
Despite the generally negative sentiment regarding funding, your accumulation began after Superverse was listed on Bybit, opening up new trading channels.
This listing could spark pressure, making Superverse a property looking for potential opportunities amid recent withdrawals and newly discovered listings.
Coin 4: ATOM
The Cosmos Chronicles No doubt, the recent developments in Cosmos (ATOM) will be interesting.
Approval of lowering the maximum inflation parameter from 20% to 10% would significantly curb the inflationary nature of ATOM as a token.
The whopping 72.7% participation rate for this decision set a historic benchmark within Cosmos Hub.
Additionally, Jay Kwan’s hint that he would lead a hub fork could potentially set the stage for one of the most extensive ATOM airdrops in history, putting years of internal discord within the Cosmos ecosystem to rest.
Analysts such as John Gold see these developments as optimistic about the future of the Cosmos Hub.
If the proposed fork comes to fruition, the distribution of fork ATOM 1 tokens to voters opposed to reducing inflation hints at the fork’s potential to spark interest within the Cosmos ecosystem.
Cosmos is currently hovering near the 8.9 area, a pivotal support level on the 4-hour chart.
Maintaining integrity at this level is very important. Especially since three lower highs have formed recently (technically two following an earlier local high).
The goal is to prevent further declines from this level that could lead to a collapse.
The desired scenario is for Cosmos to break out of this support and break through the 9.4 area, signaling upward momentum that could attract interest for long positions. This trend could validate the growing narrative surrounding cosmos.
With these technical indicators and potential price movements closely watched, Cosmos ATOM continues to come under scrutiny due to these monumental developments.
Coin 5: DYDX
DYDX’s dynamics hint at significant volatility this week as it prepares for significant token unlocks.
With more than half of the circulating supply unlocked, these events typically trigger market ripples.
Immediate movements typically mark the unlock date and are followed by selling pressure over the following weeks.
Interestingly, DYDX is showing signs of forming a potential head and shoulders pattern.
The left shoulder and head were already in place, hinting at a potential surge during the lockdown period, followed by significant declines in the weeks that followed.
This technical insight is consistent with the general trend observed during token unlocking: an initial surge followed by a decline.
Anticipating a reversal in DYDX could pave the way for long-term scalping or short-term swing trading, especially when closely monitoring shorter time frames such as the 4-hour and hourly charts.
Corner 6: Floor
The Solana Spectrum Solana (SOL), in the altcoin spotlight, presents an interesting landscape.
It is currently facing resistance around $58, showing some instability.
If SOL successfully breaks and holds above $58, it could ignite a bullish trajectory targeting $70-$80.
Despite previous attempts to break above this level, a consolidation above $58 could fuel upward momentum and take a long position.
This strategy is more of a short-term trading setup than a long-term investment approach.
Corner 7: VRTX
Vertex Protocol Revealed Newcomer Vertex is attracting attention.
Despite its sudden appearance, Vertex executed significant airdrops this week and surpassed DYDX and Uniswap in trading volume. This represents a sudden surge in interest and activity for this permanent deck.
Navigating the cryptocurrency space requires a discerning eye, especially when evaluating newer projects like Vertex Protocol.
Caution is required as the indicator suggests potential imbalances and the possible impact of wash trading or airdrops.
Vertex appears strong for potential long-term growth amid market volatility, but given the need for caution in these situations, it seems wiser to adopt short- and medium-term trading positions with a clear stop-loss strategy.
The resurgence of interest in perpetual decks, witnessed by projects as diverse as Vertex, DYDX, GMX, and Gains Network, reflects the emerging narrative in the cryptocurrency space.
However, Vertex’s current situation, where open interest is significantly lower than volume, raises warnings about market activity and the potential for price inflation resulting from such activity.
As a promising project, Vertex could demonstrate significant growth potential that could rival or surpass its competitors in terms of fully diluted valuation (FDV) if certain market conditions prevail.
However, entering the market at record highs amid the possibility of wash trading requires a cautious stance.
Therefore, given the current circumstances surrounding the project, it appears more prudent to consider short- and medium-term transactions with a clear risk management strategy.