4 crypto assets to invest in right now – The future of cryptocurrencies, like any other future, is impossible to predict with certainty. However, this does not stop crypto enthusiasts from speculating and making guesses about asset prices. The year 2023 has started off very eventful for cryptocurrencies.
Numerous listings, new projects, and shifting trends have made the game quite challenging for many investors. By May this year, we have already witnessed the listing of a significant number of assets on the most popular exchanges.
But which crypto assets should one invest in right now?
1. Komodo (KMD)
The price of Komodo (KMD) has been rising in conjunction with an upward-sloping support line since the start of the year. During this period, it appeared to break above the $0.35 resistance level in April.
However, the breakout was ultimately deemed invalid as the price quickly fell below the area, confirming it as a resistance level (indicated by the red icon). Such deviations are typically seen as indicators of bearish trends and often result in significant declines.
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Nonetheless, when combined with the $0.35 level, the ascending support line forms an ascending triangle, which is generally regarded as a bullish pattern. This suggests that it often leads to breakouts.
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2. TomoChain (TOMO)
Since March 10, the price of TOMO has experienced a significant increase. Starting from April, the price movement has been confined within an ascending parallel channel, which is typically seen as a corrective pattern.
Therefore, the most probable scenario would be an eventual breakdown from this channel. Despite the presence of the corrective channel, TOMO managed to break through the $0.68 resistance level.
Furthermore, it is currently attempting to break out from the resistance line of the channel. If successful, it is highly likely that the price will rise toward the next resistance at $1.5.
However, if the price faces rejection from the resistance line of the channel, the most probable scenario would be a decline toward the support line of the channel, potentially leading to a breakdown.
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3. Tron (TRX)
The next crypto asset on my list to invest in right now is Tron. TRX price has increased alongside an ascending support line since March 11. The increase accelerated on May 12, and the price broke out from the $0.072 resistance area on May 20.
The resistance area has been in place since July 22, so it is possible that the breakout will trigger a sharp increase. TRX reached a new yearly high of $0.077 the next day amidst a large bullish candlestick. In such a case, TRX could revisit the $0.68 area and confirm it as a support level.
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4. WhiteBit Token (WBT)
WhiteBIT Token (WBT) is currently being traded at a price of $4.63, based on the US dollar exchange rate. Predictions suggest that the price of WhiteBIT Token will reach a minimum value of $4.43 within this year. By the end of the year, there is a potential for the price of WBT to reach a maximum value of $5.97.
Recent trends indicate ongoing risks within different segments of its structure. Although the coin may exhibit strong fundamental indicators, we do not anticipate it to be a profitable asset in the short term.
However, from a price perspective, WhiteBIT Token possesses the notable potential for reaching new highs if you are willing to be patient. There are projections indicating that the value of WBT will increase. Traders and other experts suggest that WhiteBIT Token could achieve a favorable price by 2030.
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Related: Top 5 Play-to-Earn Crypto Games to Invest in May (2023)
Conclusion
In conclusion, the cryptocurrency market in 2023 has been marked by significant events and exciting opportunities. Although predicting the future of cryptocurrencies remains uncertain, several assets have shown promising performance recently. Every crypto on this list of top assets to invest in right now was carefully picked.
Summary
Komodo (KMD) has demonstrated an upward trend along with an ascending support line, although its breakout above the $0.35 resistance level proved unsuccessful. However, the combination of the support line and resistance level has formed an ascending triangle, indicating potential bullish breakouts. We have already acquired a certain amount and will exercise patience while waiting for a favorable pump.
TOMO has experienced significant growth since March, with its price movement confined within an ascending parallel channel. Although a breakdown from this channel is expected, TOMO managed to break through the $0.68 resistance level. It is currently attempting to break the resistance line of the channel.
If successful, it is highly likely that the price will rise toward the next resistance at $1.45. We purchased some TOMO for $1 around last March, and it can be said that it has potential, so we will comfortably hold it in our portfolio until better days.
Tron (TRX) has also witnessed an ascending trend, breaking out from the $0.072 resistance area and reaching a new yearly high of $0.077. This breakout has the potential to trigger a sharp increase, highlighting the possibility of further growth for TRX. This coin has long been in my portfolio, and looking at its price, it can be concluded that its value consistently rises.
As for WhiteBIT Token (WBT), it is currently traded at $4.63, with predictions suggesting a minimum value of $4.43 and a maximum value of $5.97 by the end of the year. The price potential of this coin deserves attention, especially from a long-term perspective. We have stocked up on WhiteBIT tokens and patiently await a pump.
Disclaimer
This price analysis article is intended for informational purposes only and should not be considered financial or investment advice. While we strive to provide accurate and objective reporting, market conditions are subject to change without prior notice. Always conduct your own research and consult with a professional before making any financial decisions.
Victor Del Pino
I write about cryptocurrency and blockchain technologies. Not only with the expert content, but also with the analysis of digital assets and about the most popular crypto assets. I am also an experienced UX writer with over 2 years of experience.