According to crypto expert Christian Encila, after a disastrous week, the digital currency market, including the top 5 cryptos, is ready to recover. The broader financial market is still watching closely the US debt ceiling crisis. However, the expert expects 4 altcoin projects to fill investors’ portfolios with earnings.
First altcoin project Kava Network (KAVA)
cryptocoin.com As you follow, last week has been painful for investors. However, KAVA has made gains both in terms of TVL and price. According to DefiLlama, the TVL of the Kava ecosystem has increased steadily since last week. Accordingly, Kava’s TVL has grown by over 3% in the last 24 hours. KAVA itself is also experiencing bullish pressure. The altcoin has gained more than 43% in the past seven days.
Source: DefiLlamaOn the other hand, the token’s current momentum seems to be slowing down. There are signs that KAVA will face losses in the short term. However, a recovery from $0.782 will open the way to $1.46 as investors gain confidence with the overall market recovery.
Second place Lido DAO ( LDO ) there is
It launched the Lido V2 in February. Subsequently, Lido has exempted itself from the overall market downturn over the past few weeks. According to CoinGecko, the price of LDO has increased by about 23% since last week. This demonstrates the strength of investors as well as a strong strategic partnership to ensure Lido’s dominance in the DeFi industry.
Calling all #Ethereum frens 📢 #OKX Wallet Web Extension is now integrated with @LidoFinance 🤝
Stake your ETH, manage your funds seamlessly, and enjoy the multichain #DeFi benefits via OKX #Web3 Wallet with just a few clicks 🖱️
— OKX (@okx) May 13, 2023
LDO bulls are currently attempting to turn the $2.08 resistance to support forming a path towards $2.8. LDO is likely to rise to this price point. But this is only possible if the current momentum of the market continues to rise. Watching the price movements of major cryptocurrencies will give traders an edge over the bears.
Project three Rocket Pool (RPL)
Rocket Pool has been making noise lately as it broadens its horizons. With the latest Atlas upgrade, RPL has gained the confidence of investors to make a profit in the long run. According to CoinGecko, the token has increased by about 12% in the past few days following the rise of major cryptocurrencies.
🚀 Things are heating up for @Rocket_Pool.
The protocol now has more than 500K $ETH staked. That's an 11% increase since the Atlas upgrade went live on April 17. Rocket Pool is now the 5th largest staking provider.
🔗 @samuel_haig reports:https://t.co/KB3Rr6ODsI
— The Defiant (@DefiantNews) April 27, 2023
With the bulls targeting the $53.67 resistance, a turn towards the support at this level would open the way to $58.88. However, this situation is only likely to continue if the market maintains its momentum.
Crypto total market cap on daily chart / Source: TradingViewThe latest altcoin project Bitcoin SV (BSV)
With the recent noise from those who argue that Bitcoin SV’s larger block size and lower transaction fees make it a better BTC alternative, BSV has gained 16%, according to CoinGecko. With the recent listing on Bitforex, this altcoin will definitely continue to ride the bullish wave in the market.
🤩More #brc20coins will be added to BitForex: $BSV, $ZBIT and $OHMS
⏰Starts soon!
🔗More details: https://t.co/z4PGJJ368o
✈️TG Community: https://t.co/A2T9QMAcah#BitForex #ORDI #newlistings #brc20coins #Memes pic.twitter.com/qmLGeSrPAz
— BitForex (@bitforexcom) May 12, 2023
The altcoin has great potential to regain ground above the $55.18 resistance in the long term. With crypto being marketed as a better alternative to Bitcoin, more and more investors can put in capital as time goes on. Once $55.18 becomes support, resistance at $81.64 will be the target for investors and traders.
The opinions and estimates in the article are those of the experts and are not investment advice.
