The analyst points to 7 cryptocurrencies that have good buying conditions

the collapse of block chain Earth and your stablecoin UST (TerraUSD) partner earlier this month caused regulators and investors are wondering about the future of digital assets and their ability to retain their value in the current context of economic insecurity.

Besides, Bitcoin, Ethereum and others cryptocurrencies Important issues have been affected by both the Russian invasion of Ukraine and rising inflation, which remains a major concern for central banks which, together with governments around the world struggling to rein in pricing pressures through rate hikes despite supply constraints that have contributed to high oil and gas prices.

However, from the current crisis that the crypto-asset market is going through, analyst Tammy Da Costa, from DailyFX, points out that it is possible to draw optimistic conclusions because with thousands of cryptocurrencies and tokens now in circulation, Bitcoin and Ethereum compare relatively well and have shown their great value.

“As investors’ appetite for risk continues to decline, the limited supply of Bitcoin and the positive developments that Ethereum has ushered in may continue to support the two largest cryptocurrencies (by market capitalization). As Polygon and other developers grow, there is a chance that these tokens will grow in popularity over the long term if institutional investors and central banks decide to invest in the underlying blockchains.”

According to David Gobaud, Founder and CEO of PassportLuna’s collapse has put a lot of pressure on Bitcoin which despite these conditions, it is trading sideways near $30,000.

In addition, he points out that venture capital activity is on the rise, new financial products combining crypto and traditional finance are launched every day, and regulators are taking a balanced stance that will allow the sector to continue to grow despite the recent crisis.

“When the UST stablecoin crashed, its supporters sold almost $3 billion worth of bitcoin in an ineffectual attempt to stabilize the price. interest, keeps investors away from risky assets. However, the fundamentals of cryptocurrencies have never been stronger,” he says.

Best opportunity to invest

Raymond Nasser, CEO of Arthur Minieralso points out that macroeconomic conditions also have an impact on the value of the crypto assetshowever, he points out that the best buying opportunities are at the low point.

“Winter is global, triggered by world events, not just crypto. It’s in times of fear and panic that the best investment opportunities arise. 99% of people follow the market and regret not not buy on the lows, which are exactly like that sometimes,” he says.

Analyzing Bitcoin charts, analyst Tasso Lago, cryptocurrency private fund manager and founder of Financial movementalso points out that the current momentum could be a great buying opportunity, as BTC’s sideways movement is likely to continue to dominate the market in the near term.

“As we can see, we had some chart formations that we could highlight, like this triangle that broke up with no price action,” he said.

“Or that bearish flag that is not moving further lower due to the 28-30k support”

Therefore, according to him, the most correct would be to have a view from this angle: consolidation, a sideways market with a bearish bias because it is lower than that of several averages.

In this way, Lago points out that the $34,000 area on H4 will act as resistance if the price is looking for a positive move and the $28,000-$30,000 area will act as support.

“The all-time high that was broken is at $20,000 and I see a very low probability that we will drop below that area. Therefore, any drop in bitcoin price would be an opportunity, both in bitcoin and altcoins I see it as the current timing bad for shorter trades and more favorable for taking advantage of positions to HOLD retreats When the market opens it will be more positive for shorter trades due to the best case scenario chart,” he concludes.

7 cryptocurrencies that have good purchase conditions

Given this scenario, Lago points to 7 cryptocurrencies that he believes offer good conditions and that traders and investors should watch out for.

The first cryptocurrency in the list is the Ethereumwhich he highlights has a similar chart to Bitcoin as it has already reached the EMA200 region.

“Great buy. Ethereum’s all-time high break is in the $1500 region and would be the best buy possible,” he said.

Second on Lago’s list is Polkadot (POINT) which for the analyst is also in a good buying moment with a profit potential of more than 1000%

“Polkadot, which is currently in the $8-10 region, is a good buy. Another level to buy would be in the $4 range (1000%+ profit potential),” he says. .

Third, it points to Chainlink (LINK) which has a good buy zone to hold at the $7 level, “Other levels would be $4 and $2 and we would only see $2 if the market had a final panic.”

Uniswap (United), one of the most relevant brokers among DEX (Decentralized Brokers) is also on the analyst list.

“UNI is at an excellent level of $5. Next buy level at $2.5,” he said.

For Lago, the sandbox (SAND) is another example of a pioneer coin that is close to 1 USD and has excellent 7x multiplication potential.

The analyst is also optimistic about the GALAwhich he says is a good bet for the long term, as growth in the blockchain gaming industry tends to benefit GALA, which allows Cryptogames to be built using its token, so there is, according to Lago , a prospect of increased demand and usage for your tokens.

“Therefore an appreciation. Potential for 700%+ right now. None of these positions have a short-term bias, everything would be medium-long (1-2+ years). But no other market offers this opportunity equal to the crypto market,” he says.

Finally, the analyst points to the Ethereum Name Service (ENS), which she says is quite strong as she reaches lower levels.

“Excellent WEB3 project. I don’t see any short trades in these currencies, the vast majority have a lousy chart in the short term. The whole view exhibited here has the sentiment of HOLD. It will only improve when the BTC chart goes up. will improve,” he concludes.

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