At the time of writing, the market for cryptos was shaken by major coins plummeting to weekly support ranges. However, although it seems that sentiment is still negative with major digital currency assets losing a good percentage in their values, some are glowing in green in almost all time frames, according to Coingecko.
These five cryptos are set for a possible breakout in the short term. With macroeconomic indicators showing an improving situation in some areas, these cryptos are expected to make a surprise rally in the final days of February.
TRON, as an ecosystem, is thriving. According to their official website, it currently has 143 million accounts backed by nearly 5 billion transactions. TRON claims that they are the fastest growing blockchain in the market.
Image: The Daily Hodl
CoinGecko notes strong growth in almost all time frames with the biggest gains made in the monthly time frame at almost 16%. This shows that the bulls are in control of the market. The support of the token at $0.06871 would offer investors and traders an opportunity to continue the token’s current market movement.
AI Cryptos Make The Grade
Artificial intelligence has been growing in utility. AI related tokens are also experiencing a great deal of bullish sentiment, with the market capitalization of all AI tokens reaching almost $2 billion today. FET is one of those tokens, boosted by the recent partnership with Fetch.AI and Bosch.
We are thrilled to announce that @Fetch_ai, in collaboration with our partner @BoschGlobal, are forming a new https://t.co/kJ9URVpOul Foundation to boost development of #industrial applications based on #AI and #Web3 technologies!
👉 https://t.co/w1JDSrG2lo pic.twitter.com/AuL6S1RuSL
— Fetch.ai (@Fetch_ai) February 21, 2023
Due to this, the token has rallied 10% in the weekly time frame. The token’s current resistance at $0.4097 is the only thing stopping any further bullish movement. Investors and traders should focus on breaking this resistance to continue its growth in price.
SingularityNET’s governance token takes another spot in the list. As it continues its journey in creating an artificial general intelligence, AGIX, the ecosystem’s governance token, has been on the uptrend lately. Current data shows that the token is showing gains in all time frames, with the biggest increase being nearly 150% in the monthly.
At its current price of $0.4250, AGIX is continuing its bullish price movement it started with at the beginning of 2023. This would enable investors and traders to enjoy gains in the short to medium term.
On-Chain Devs Help Boost Price
Chainlink’s role in the massive industry of cryptos as the bridger of on-chain and off-chain data supported LINKs growth in recent months. The token is currently up 7% in the weekly time frame, which is backed by recent on-chain developments.
LINK is currently changing hands at $7.540 which is close to its $7.520 support line. Long-term prospects for the token should be bullish if the current support holds. Investors interested in this token should monitor its current support before making any major decision.
Crypto total market cap at $1 trillion on the weekend chart | Chart: TradingView.com
The LIDO DAO has been moving forward to further decentralize the network. The DAO released a blogpost about the upgrade on February 7, affecting the price of LDO, the network’s governance token. According to CoinGecko, LDO is up 12% in the past week.
Today Lido contributors are proud to present Lido V2 – Lido’s largest upgrade to date and an important step towards further decentralization. https://t.co/SDxlxCgMNq pic.twitter.com/KJewhEp8rV
— Lido (@LidoFinance) February 7, 2023
As of writing, the token is not correlated with the plummeting major cryptocurrencies. The bullishness exhibited is being supported at $2.771. If this holds, the token would have a launch pad to target higher highs in the coming days or weeks.
-Featured image from Yahoo!