After a disastrous week, the digital currency market , including the top 5 cryptos, is ready for a recovery. According to CoinGecko, the crypto market’s total market cap increased by nearly 2% in the past 24 hours.
Although the broader financial market is still closely monitoring the US debt ceiling crisis, Bitcoin and Ethereum’s recent localized rallies, along with the strong performances of the top 5 cryptos, pulled the market upward.
Top 5 Cryptos Expected To Pad Investors’ Portfolio With Gains
KAVA
Although last week was painful for investors, KAVA saw gains in both TVL and price. According to DefiLlama, the Kava ecosystem’s TVL grew by over 3% in the past 24 hours with steady gains since last week. KAVA itself is experiencing bullish pressure, with the token up more than 43% in the past seven days.
Source: DefiLlama
The token’s current momentum seemed to be slowing down, showing signs that KAVA may face losses in the short term. However, a rebound from $0.782 will open the path to $1.46 as investors gain confidence along with the general market rebound.
LDO
After implementing Lido V2 in February, Lido has exempted itself from the general market downturn in the past few weeks. According to CoinGecko, the price of LDO rose by nearly 23% since last week. This shows investors’ strength along with 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 trying to flip the $2.08 resistance to support opening up a path toward $2.8. LDO’s rise to this price point is inevitable, but this can only happen if the current momentum of the market continues its bullishness. Monitoring the price movement of the major cryptocurrencies will give investors an edge over the bears.
BGB
With the launch of its cartoonified ETFs, Bitget’s BGB gained dominance in the crypto market. CoinGecko data reveals that the token gained 15%, going against the grain of the market decline. This makes BGB a great token to hold at the moment.
BGB has found support on $0.46. This will be the crucial support in which the token will find higher highs in the long run. With BGB following the current wave of the market, investors and traders will enjoy gains in the medium to long term.
RPL
Rocket Pool has been creating buzz recently as they broaden their horizons. Along with their recent Atlas upgrade, RPL gained the confidence of investors to manifest gains in the long run. According to CoinGecko, the token is up nearly 12% in the past few days following the rise of the 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 $53.67 resistance, a flip to support on this level will open up the path toward $58.88. However, this can only continue if the market keeps up the momentum. Thus, monitoring the current market sentiment will be beneficial for investors and traders.
Crypto total market cap slightly above $1 trillion on the daily chart at TradingView.com
Related Reading: The Aura Around PEPE Isn’t Good For The Market, Especially Bitcoin – Here’s Why
BSV
With the recent noise created by proponents that Bitcoin SV’s bigger block size and lower transaction fees make it a better BTC alternative, BSV increased in value by 16% according to CoinGecko. Along with the recent listing on Bitforex, this coin will certainly 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 coin has a big potential to regain ground on the $55.18 resistance in the long term. With the coin being marketed as a better alternative to Bitcoin, more investors may put capital as time goes on. Once $55.18 becomes support, $81.64 resistance should be targeted by investors and traders.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk)
-Featured image from GreenBiz
Source: Read Full Article