Winter is coming, and so is the opportunity to invest in some of the hottest cryptocurrencies in the market. Here are the top five cryptos that could offer the best returns in the next few months, based on their latest news and price analysis.
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HOT Crypto Price Analysis
HOT is the native token of Holo, a decentralized cloud hosting platform that aims to create a more human internet. Holo allows anyone to host distributed applications (dApps) on their own devices and get paid in HOT for their services. Holo has recently launched its beta version, which has attracted over 30,000 users and hosts over 100 dApps.
Holo is also working on integrating its technology with the Ethereum network, which could boost its adoption and value.
On weekly timeframe level the price action of $HOT breaking out its resistance trendline level. The price action is bouncing back from its Horizontal Support level marked between the $0.001391 – $0.001131.
After an retest level the price action can squeeze out Previous Buy Side Liquidities.
GPT Crypto Price Analysis
Cryptogpt token by LayerAI is a cryptocurrency that aims to power the AI revolution by enabling users to monetize their data and earn rewards for contributing to AI development.
LayerAI is a cryptocurrency that uses zkRollup technology to create a layer-2 blockchain for AI development. Users can earn LAI tokens by sharing their data for AI purposes, with their consent. LayerAI hosts apps with over 2 million active users, making it one of the largest blockchains at launch. LayerAI is also the first platform to combine blockchain and AI, creating a new opportunity for consumer apps.
On daily timeframe level the price action was consolidating in Descending Channel pattern level where the price action has broke out resistance trendline level
However consolidating at its Horizontal Support level from there we can expect the bounce back level.
CFX Crypto Price Analysis
CFX is the native token of Conflux, a high-performance blockchain that aims to solve the scalability and interoperability challenges of the current blockchain ecosystem. Conflux uses a novel consensus algorithm called Tree-Graph, which enables fast and secure transactions without compromising decentralization. Conflux also supports cross-chain communication and smart contracts, making it compatible with Ethereum and other blockchains. Conflux has partnered with several leading projects and institutions, such as Huobi, Binance, OKEx, Web3 Foundation, and the Shanghai government.
CFX has a market cap of over $3 billion, and is trading at $0.87. It has a bullish momentum, and has recently crossed the resistance level at $0.85. It could target the next level at $0.9, and then $1.
On weekly timeframe level the price action of $CFX broke out the Resistance Trendline level and currently retesting out over there. After an weekly closure level we can expect the upward momentum.
ETH Crypto Price Analysis
ETH is the native token of Ethereum, the most popular and widely used blockchain platform for dApps, smart contracts, and decentralized finance (DeFi). Ethereum is undergoing a major upgrade, called Ethereum 2.0, which will transition the network from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, improving its scalability, security, and efficiency. Ethereum 2.0 is expected to be fully launched by early 2024, which could boost the value and adoption of ETH.
ETH has a market cap of over $280 billion, and is trading at $2,080.
On weekly timeframe level the price action of $ETH is respecting out its Horizontal Resistance level.
Marked out two Weekly FVG gaps level. After an weekly breakout level and retest we can see potential movement upwards towards thw $2500.
AVAX Crypto Price Analysis
AVAX is the native token of Avalanche, a fast and scalable blockchain platform that supports multiple interoperable networks. Avalanche allows anyone to create and launch their own customized blockchains, dApps, and tokens, using various consensus protocols and virtual machines. Avalanche also supports the Ethereum Virtual Machine (EVM), making it compatible with Ethereum dApps and smart contracts. Avalanche has recently announced a partnership with Amazon Web Services (AWS), which will enable developers to easily run Avalanche nodes and create subnets through the AWS Marketplace.
On daily timeframe level the price action of $AVAX is heavily pumped up after breaking out falling wedge pattern level. Marked out the Imbalance between the $15.90 – $14.86 level.
We can expect the price action will take the correction level till the Imbalance we have marked.
These are the top five cryptos that could offer the best gains this winter, based on their latest news and price analysis. However, the crypto market is volatile and unpredictable, and investors should be careful and do their own research before investing in any cryptocurrency. This article is not financial advice and is for informational purposes only.
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