“New Year, new things…” is the main theme dominating the minds of investors in their hope for a favorable 2023. There have been some positive indicators displaying recovery potential in the first week of the year, the earliest indication that the year could be a good one for the crypto industry.
As such, many are asking – which crypto coins and projects will be the first to ride the recovery wave and rake in huge profits for investors? The two most valued cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were able to stay above the $16,000 and $1,200 marks, respectively Saturday, January 7. Meanwhile, other popular altcoins also flashed green as gains were witnessed across the board. The Lido DAO (LDO) and Decentraland (MANA) tokens emerged as the biggest gainers, each seeing a 24-hour jump of over 13%.
Biggest Crypto Gainers Today
Lido DAO (LDO)
Lido DAO price has increased 54.2% over the past seven days, 58.5% in the last two weeks, and 48% in the last 30 days. At the time of writing, it was exchanging hands at $1.48. The recent price action displayed by the DAO price has formed a series of higher highs and higher lows, thus forming an ascending parallel channel on the 12-hour chart (below).
Ascending channels are highly bullish technical formations suggesting that the asset may maintain the upward trend as long as the price stays within the boundaries of the chart pattern.
DAO/USD 12-Hour Chart
Besides the chart pattern, the Lido DAO price was sitting on robust support offered by the lower boundary of the chart pattern at $1.48. Additionally, the relative strength index (RSI) was positioned at 70 as it entered the overbought region, a suggestion that LDO was firmly in the hands of buyers.
Also adding credence to LDO’s positive outlook was the pending bullish cross. Although not a golden cross, when the 50-day SMA moves above the 100-day SMA suggest that the altcoin’s upward trajectory is gaining momentum.
The bulls will now attempt to push the price past the $1.60 psychological level to confront resistance from the $1.7 area, reinforced by the upper boundary of the channel.
Breaching his level could open the way for a rise to the $1.8 psychological level. Such a move would bring the total gains tp 21.86%.
On the flip side, a daily candlestick close below the lower boundary of the channel at $1.48 could see the LDO price trace lower, facing the next support offered by the 200-day simple moving averages (SMA) at $1.26. If selling pressure increases, the asset may drop further tagging the $1.07 level, where the 50-day and 100-day SMAs converged. Beyond this level, the DAO price could revisit the $0.94 swing low.
Decentraland (MANA) is a virtual reality platform where users can build and explore digital worlds. Its native token, MANA, is used on the platform to purchase land and services.
MANA catapulted itself to the forefront of the crypto world in 2020, with celebrities such as Atari and Snoop Dogg pumping Decentraland. With this hype, the MANA token skyrocketed to $5.90 early in 2021, translating to a market cap of almost $10 billion.
Today, the MANA token is trading at $0.35, after gaining over 9% in the last 24 hours. MANA’s price action has also been forming higher highs and higher lows over the past few days, leading to the formation of an ascending parallel channel, thus bullish.
According to the 12-hour chart below, the MANA price has escaped from the confines of the channel, confirming a bullish breakout. The Decentraland community now has its eyes on the $0.39 range high. Such a move would represent a 12.5% ascent from the current price.
However, before getting to this target, MANA bulls have to overcome selling pressure from the 100-day SMA currently sitting at $0.36.
MANA/USD 12-Hour Chart
For as long as MANA price trades above the upper boundary or within the technical formation, the bullish thesis holds. Additionally, the RSI was positioned at 69 and heading to the overbought territory, a sign that more buyers were present in the market, adding credence to the bullish thesis.
On the flip side, if bears return to the market, and the Decentraland price may turn down from the current levels to seek solace from the upper boundary of the ascending channel at $0.347. Breaching the support would set the crypto back into the confines of the chart pattern or lower, cracking the lower boundary of the channel at $0.3322. Such a move would initiate another sell-off that could see the price move lower to seek solace from the $0.3234 level, embraced by the 50-day SMA, invalidating the bullish thesis.
FightOut is a recently introduced Move-to-Earn (M2E) crypto project that is currently leading the industry. The project brings forth a revolutionary concept to track every fitness metric so that a user can see and monitor their progress toward the healthy living goals that they have set for themselves on this fitness and gym app.
Among the great parts of the FightOut project is that users can earn rewards for working out, which incentivizes them to keep coming back for more. FightOut has distinguished itself from the rest of the competition in the sector, which is why it is expected to soar in value in 2023. It is in the early stages of its presale, having raised upwards of 2.7 million.
Things are heating up #FightOutCrew! 🔥
Fight Out just reached over $2.7M in our presale! 👏
— Fight Out (@FightOut_) January 6, 2023
Dash 2 Trade (D2T)
Following the collapse of crypto exchange FTX, a project such as Dash 2 Trade has become a much-needed difference maker. The crypto analytics, bot, and insights platform have made crypto trading easier, as investors can now make decisions from an informed point of view.
The platform provides proprietary scores for crypto presale projects. This helps traders spot emerging projects and distinguish between the ones that are worth investing in and the ones to overlook. Resultantly, Dash 2 Trade has been lauded as a powerful platform with a huge following day upon day.
So far, the project has raised $14 million in the D2T token presale, with only two days left, which means you need to hurry before the price spikes in the new year upon CEX listings.
— CryptoTrain.io (@Cryptotrainsio) January 7, 2023
Calvaria is committed to encouraging the adoption of crypto on a mass scale by leveraging g its new play-to-earn (P2E) battle card game. Calvaria: Duels of Eternity is a very fun and addicting game that also supports a free mode where gamers can try it out and be educated about how crypto works and all the benefits of it before switching or opting into the premium mode.
During game place, gamers receive real-time updates about how much they would have earned if they were playing the P2E version. This insight convinces them to try it out for themselves. This is why the $RIA token has such high future value.
The Calvaria presale is ending soon, with $2.67 million raised so far, so there is not much more time to buy. Hurry and do so now before you miss out.
In RobotEra, the power lies in the hands of users. The project embraces an almost similar theme to the sandbox, entailing planet-rebuilding endeavors in the TARO metaverse. In the game, a user becomes a robot avatar to rebuild the planet. To do so, they collaborate with other users and together they create robot companions to help and interact with each other.
Through engagement and interaction, new NFT communities are built, all of which use the $TARO token, making it a very valuable crypto project for the future. RobotEra is still in the early presale stages right now and has raised $673,000.
🔥 #RobotEra – a frictionless experience that lets you have fun and still gain momentum in this exciting time
— RobotEra (@robotera_io) January 6, 2023
If you are looking for the best return on investment, you should invest in this revolutionary project now.
FightOut (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
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- Earn Free Crypto & Meet Fitness Goals
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