Why Are Crypto Prices Rising This Week? 5 coins for 2023

Chart from TradingView

Disclaimer: The ‘Industry Talk’ section contains contributions and insights from people active in the crypto world and is not part of the editorial content of Cryptonews.com.

The cryptocurrency market is slowly recovering from the FTX crypto exchange in the past two weeks. This week, Bitcoin is up 3.81%, Ethereum is up 6.94%, and the overall market cap is up 2.84%. But how high can this temporary rally go?

Cryptocurrency Technical Analysis and Market Value Forecast

The total market capitalization of crypto currently stands at $813 billion and is trying to break out of the zone between $727 and $824. The rise in the past two weeks has not been supported by trading activity, so it is possible that the tide could turn.
It is therefore:

RSI

RSI40 is of great importance for this year and has acted as support and resistance. The overall RSI for crypto is currently at 37.19. Traders should assume that it is very likely to see a reaction around this area.

MACD

Activity is slowly declining and moving averages are close to each other, if this continues we can expect a bearish crossover.

Support and resistance

There are different levels to see in the cryptographs. If the price moves outside the $727 billion and $824 billion zone and breaks the RSI40, the next target is $850 billion and then $860 billion. If the price continues to rise, traders should look for an EMA of 20.0 and a descending chart before the next resistance.

Basic analysis of the cryptocurrency market

Powell’s speech

After Federal Bank Chairman Jerome Powell signaled that the central bank would delay rate hikes, stocks have risen. D2 The S&P 500 is up 3.09%, the Dow Jones Industrial Average is up 2.18%, the Nasdaq Composite is up 4.41% and the Russell 2000 is up 2.72%.

Powell’s comments gave investors hope that the central bank is done raising interest rates and may even cut rates. This optimism has sent the share prices of big tech companies, seen as risky because of the interest rate hikes, up. This optimism has further spread to the cryptocurrency market.

The time to discuss the momentum of rate hikes will come at the next meeting, Powell predicted during his speech at the Brookings Institution in Washington.

A 43% drop for the S&P 500?

The trader, Jon Wolfenbarger, said in a blog post that he believes another bearish sell-off is imminent after rate hikes are delayed. As a result, the S&P 500, which is very important to the market, could fall as much as 43% in next year’s plunge.Wolfenbarger suggests that cautious investors who want to wait out the bear market should invest in bonds and similar assets.

He also says that ETFs, such as the SPDR Bloomberg 3-12 month T-bill ETF, BILS, and the WisdomTree Floating Rate Treasury Fund ETF, USFR, are good places to invest.

It is also good to divide your portfolio well and when investing in cryptos, choose coins with a lower market cap and coins in the presale.

The uncertain bear market

In a world where just a tweet can make the market go up or down, it is very important to research and invest in cryptocurrencies with a strong foundation, a good team, a lot of utility and adequate support. We have compiled a list of primarily pre-sale crypto projects that meet all the necessary criteria to be a big success in 2023.

Dash 2 Trade (D2T)

Dash 2 Trade is a highly intelligent trading platform that helps investors and traders of all levels make better investment choices by providing them with real-time analytics and social data. With the native D2T token, users can pay to use the Dash 2 Trade platform, which operates on the Ethereum network.

The token’s presale has already raised over $7.6 million, and D2T will be added to BitMart and LBANK Exchange at the end of the presale. Because coins often rise after they are added to exchanges, early investors benefit the most from the D2T token.

Visit the Dash 2 Trade Presale here

Robot Era (TARO)

RobotEra (TARO) is a new play-to-earn sandbox metaverse that will make heavy use of non-fungible tokens (NFTs). The goal of the game is to rebuild the destroyed planet, Taro, where players can control their own NFT robot and buy a property on which to build their home base.

These robots act as digital assistants that can help the players in their adventures on the planet Taro in several ways. With RobotEra’s tools, you as a player can design and create your own robot, which can then be traded on the marketplace.

Visit the RobotEra Presale here

Calvary (RIA)

The problem with many play-to-earn crypto games is that it is difficult to attract new players and retain current players. With Calvaria free to play, anyone can feel free to try the game without having to invest any cryptocurrency.

Within this free version, players can learn how cryptocurrency works while having the same experience as in the play-to-earn version. Players can compare their earnings with other players who have purchased NFT cards so they know what they could have earned with the play-to-earn version.

Calvaria not only attracts new players, but also pays attention to retaining current players. This is very important to the value of the original RIA token. If players like the free version, they can switch to the paid version once they understand how it works. They are also more likely to continue playing and investing to increase the value of their own NFTs.

Visit the Calvaria Presale here

IMPT.IO (IMPT)

IMPT is a carbon credit marketplace that works on the blockchain that makes trading carbon credits much easier and more efficient. The platform operates on Ethereum, so the CO2 credit market will be available to both companies and individuals.

Using NFTs for carbon credits and a shopping platform, IMPT makes it easy for people to lower their emissions, creating a snowball effect as people encourage others to do the same.

Investing in the platform’s native token, IMPT, is the best way to get involved in the project. The digital token is currently available for pre-sale, having already raised more than $13.4 million in less than three months. In the second phase, the token is on sale for $0.023, but in the next phase it will be $0.028.

IMPT is a great and sustainable crypto token for investors looking for profit while helping the planet at the same time.

Visit the IMPT Presale here

Lucky Block (LBLOCK)

Lucky Block (LBLOCK) is a brand new crypto project that focuses on gambling and lottery. Through the online casino, users can choose from over 100 game providers and participate in poker, slots and live casino games. According to LBLOCK, everyone is a winner and they want to create a lottery system for blockchain.

Users can easily top up their account from Lucky Block using debit or credit cards. Lucky Block also plans to make Google Pay, Apple Pay and other options available. A big bonus is that Lucky Block’s customer service is excellent. They are available 24/7 to assist customers via email and live chat.

Visit Lucky Block’s website here

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