On Friday, a weaker dollar may have helped crypto prices move higher as stock market investors remained cautious after the US Inflation numbers hit historically high levels level despite a slight ease, and uncertainty all around upcoming fomc meeting next week.
Meanwhile, the cryptocurrency market made a significant recovery yesterday as it rallied 2.30% from the support of the 0.382 Fibonacci retracement level. The market continues to be bullish so far today, with Bitcoin up by 1.49% and Ethereum by 2.02%. As the market cap tries to move above the $860 billion range, is the market once again attempting to break this key resistance area?
cryptototal market cap and technical analysis
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EMA
In the longer term, the price remains bearish as the market continues to trade below both the 50 and 100 EMAs. But for now, a little optimism may set in as the market has been holding steady above the EMA 20 for the past few days.
RSI
Yesterday, the Relative Strength Index (RSI) broke the RSI 50 mark at RSI 50.03 and now the RSI is hovering around 50.44. Sustaining this level is necessary for the next few days to see a possible upside in the market.
macd
The bullish crossover of the MACD with the moving averages is a sign of potential upward momentum, however, the shrinking gap between them could be a cause for concern. We need to experience a further increase in market momentum to sustain this promising trend.
support and resistance
Fib 0.236 and Fib 0.382 have proved to be important for the past few weeks. Therefore, the $789 billion to $804 billion levels are immediate support for crypto total market cap. The market has so far broken the daily EMA50 in the $837B zone and is now attempting to break the $850B to $860B resistance. If successful, it may be time to think about taking some positions, but only with proper risk management as market volatility remains high.
Protect yourself from financial risks: Diversify your investment portfolio
It is essential for any investor to protect their capital from potential risks by using stop losses and being cautious in volatile markets, as well as diversifying investments. By diversify your portfolioInstead of putting all your eggs in one basket, you are spreading risk across multiple investments that may respond differently to different market conditions.
For example, in addition to investing in asset classes such as stocks, bonds, commodities and high-cap cryptocurrencies, it is also a good idea to carefully buy crypto projects in their presale stage to get in on the ground floor pricing. With this in mind, we have selected 4 cryptocurrency projects with strong fundamentals and high investor interest that are now available for presale.
IMPT.IO (IMPT)
Eco-Crypto IMPT is committed to combating climate change by harnessing the transparency and efficiency of the blockchain. The platform gives individuals access to thousands of brands that support climate action along with a percentage of their profits from each sale.
You can buy, sell or retire carbon credits on the platform. The IMPT token pre-sale is currently in its final days, so investors should take advantage of this opportunity to be quick. So far IMPT has raised nearly $17 million during its pre-sale period, with over $1 million raised in the last 24 hours, and shows no signs of slowing down despite the current crypto bear market conditions.
Dash 2 Trade (D2T)
Dash 2 Trade is much more than just another crypto analytics tool. It is an intelligence and analytics platform that provides forecasting, social analysis and trading signals to help traders make informed decisions. Dash 2 Trade seeks to meet the needs of all investors – beginner or experienced, large business, or small time trader.
It is the perfect solution for any level of trader looking to hone their strategies. The platform will provide a range of services, such as creating and analyzing trading strategies, reading current cryptocurrency news, and gaining insight from blockchain analysis. Thus far, the D2T pre-sale has raised $9.2 million through 4 phases and is currently in its final phase having raised 70% of its targeted funds.
Calvaria (RIA)
Calvaria is a Web3 game that allows players to strategically collect, trade, and battle nft based leaves. Unlike other Web3 games, you don’t need to own any cryptocurrency, which may make it more popular with crypto newbies. RIAs can be used to trade and place bets on the sports market – providing users with additional incentive to hang on to the token. So far, the pre-sale has raised $2.38 million USDT and is currently in Phase 5, which is the final phase before launch.
Robot Age (Tarot)
Robotera, Ethereum-based metaverse gaming The project, centered around robots, allows users to purchase land and participate in various interactive experiences. Its main advantage is that it does not require coding knowledge from creators wanting to design their own games or experiences. Users will also be able to earn in-game income through various means as well as by staking $RIA tokens.
Currently, the first phase of Robotera’s Tarot token pre-sale has collected a total of $465K.
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