5 Cryptos Set for Major Breakthroughs This Week

5 Cryptos Set for Major Breakthroughs This Week


The top 5 cryptocurrencies are treading cautiously with Bitcoin’s impending significant shift in the days ahead, but KAVA, SNX, TRX, CFX, and LTC hold potential to shield against significant downside risks and offer profitable returns for investors.

The top 5 cryptocurrencies are treading cautiously as Bitcoin (BTC) enters its narrowest trading range, reminiscent of July 2020 prices, reports by Glassnode. Consolidating within its tightest seven-day range in 3 years, Bitcoin’s movement signifies an imminent whole lot of shift in the days ahead.

Amidst the cautious sentiment in the broader financial market following a recent debt ceiling meeting, which has prompted bearishness, there is a possibility that the bearish tendency affecting Bitcoin (BTC) could extend to the cryptocurrency market in the medium to longstanding. Nonetheless, these top 5 cryptocurrencies hold the  capacity to shield against whole lot of downside dangers and offer investors profitable returns once positive  tendency sentiment returns to the markets.

Top 5 Cryptocurrencies Expected To Make Big Moves In Coming Days

KAVA

With the successful launch of the ecosystem’s Kava 13 mainnet, its governance crypto token KAVA made some impressive statistics. Reports by CoinGecko, the crypto token is up 50 percent in the past two weeks. The increased utility and scalability of the newly launched mainnet will undoubtedly contribute to KAVA’s future performance. 

As of now, the token’s $0.8465 level of support holds the key toward a greater upside. The present price movement of the crypto token suggests a fall in value can potentially occur in the coming days. Defending this price point will be critical to target $1.4 resistance in the coming days. 

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SNX 

Powering synthetic assets on the blockchain tech, Synthetix’s governance crypto token SNX persists to go against the market’s current movement. As of writing, the crypto token is up an impressive 15 percent in a market where major digital currencies lost value. Lyra, a new options market maker on the block, will likewise integrate Synthetix perpetuals in its Newport upgrade which will attract more attention to Synthetix. 

For investors, holding $2.334 will be important for future price actions. Nonetheless, SNX’s correlation with Bitcoin (BTC) can potentially pose a challenge in the short term. Regardless of this, $2.334 should be able to hold against any bearishness in the medium to long term.

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TRX

The past few conclusion of Tron’s HackaTron Season 4 produced winners that will assist develop Decentralized Finance and cryptocurrency as a whole. It gave TRX a boost away from the market’s current slippage. Coingecko data reveals that the token’s value has increased by 11 percent since last week. 

The token’s current trajectory places it as a prime target for the bears. After nearly a 30 days of continuous profits, investors should be ready for a fall toward $0.06544 in the short term. Regardless of this, the bulls should be able to target $0.08092 in the longstanding once the market cools down its bearishness. 

CFX

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Conflux has been able to keep building regardless of the market conditions present with numerous integrations on other networks. These developments positively influenced CFX’s price, with the crypto token up nearly 30 percent in the past two weeks, making it one of the largest gainers in the market. 

As of writing, bulls are attempting to recover $0.3128. A return on this level will provide a solid level of support for CFX to settle over $0.4215 in the coming days or months. Nonetheless, investors and traders should monitor BTC’s future price movements as the two assets are historically correlated with each other.

5 Cryptos Set for Major Breakthroughs This Week

LTC

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Being the oldest cryptocurrency on the list, Litecoin holds itself higher than the others listed. Boasting a very high hashrate, this coin proves to be a reliable way to transact in everyday life. Owing to these factors, LTC is up nearly 17 percent since last week. 

BTC’s movement toward a tight trading range is affecting LTC’s future performance. As of now, the investment is holding over $89.32 which can open the path towards higher profits. For the longstanding, investors and traders should be able to target $100 to secure a greater upside. 



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