Top 3 crypto coins to buy in 2023

Top 3 crypto coins to buy in 2023

2023-02-13 • Updated

The crypto space has seen considerable movement since the beginning of 2023, creating what some analysts call a "crypto bull run." Even though most crypto coins eligible for a massive 'bull-run' are typical 'meme coins,' there may still be some exciting opportunities for mainstream traders to seize. 

BTCUSD

BTCUSDDaily-1002.png

After the price initially broke above the highlighted highs, we see the price making its first major retracement towards the area of retest (previous demand zone before the breakout). Even though fundamentally speaking, BTCUSD can be expected to go bearish since we can see price dropping despite an increase in mining difficulty. In simpler terms, BTCUSD's value is dropping even though it is becoming much harder to mine. Should this bearish move be sustained, we may see BTCUSD prices hit the $18k price area.

For my bullish trade, the 50 and 100-period moving averages aligning with the rally-base-rally demand zone is my mjor confluence.

Analysts’ Expectations: 

Direction: Bullish

Target: $23000

Invalidation: $20280

ETHUSD

ETHUSDDaily-1002.png

ETHUSD, like Bitcoin, is under the same pressure due to the rumor of the SEC's intending ban on staking providers. Ether has dropped about 0.5% in the last 24 hours and may drop even more. The gloomy prediction from the technical point of view is that we are yet to see ETHUSD in a tangible area of demand or support. Considering the confluence of the trendline support, rally-base-rally demand, and the moving averages, it is safe to expect prices to hit the $1400 area before possibly resuming bullish.

Analysts’ Expectations: 

Direction: Bullish

Target: $1630

Invalidation: $1355

LTCUSD

LTCUSDH4-1002.png

The technical analysis of the LTCUSD chart above presents a confluence of the rally-base-drop demand zone, the 200-period moving average, and the trendline support as indicators of a possible bullish movement from the $87-$90 range. The direction seems clear. However, we must not forget to manage our risk properly.

Analysts’ Expectations: 

Direction: Bullish

Target: $95.5

Invalidation: $87.8

ETHNZD

ETHNZDDaily-1002.png

ETHNZD is another clear setup from a technical point of view. There is trendline support, turnkey level, and moving average confluence, indicating a possible bullish move from the marked-out rectangle.

Analysts’ Expectations: 

Direction: Bullish

Target: $2,620

Invalidation: $2,105

MEME COINS

As for meme coins worth buying this 2023, my biggest advice would be to invest in coins that have a relationship with the ongoing AI trend. It means you want to consider investing mostly in coins whose utility is directly or indirectly linked to AI products or services.

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

TRY TRADING NOW

You can access more of such trade ideas and prompt market updates on the telegram channel.

Similar

Where Is Bitcoin Headed Now?
Where Is Bitcoin Headed Now?

Bitcoin experienced a significant price surge in the past 12 hours, nearing $30,000 after trading sideways. The altcoins, including SOL, BCH, XRP, XLM, and MNT, also turned green, with gains of up to 12%. On Monday, a fake report falsely claiming SEC approval...

Cryptocurrency Market Outlook
Cryptocurrency Market Outlook

Former BlackRock executive Steven Schoenfield anticipates that the U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF within three to six months due to evolving regulatory dynamics, including the SEC's recent loss in the Grayscale lawsuit.

Crypto: Bull-Run Now Or Later?
Crypto: Bull-Run Now Or Later?

Bitcoin surged by more than 3% to reach over $26,600, recovering from losses incurred in the previous week's drop. Ether also rose by 3.5%, approaching the $1,700 level. Solana's SOL token jumped by almost 7% after integration with Shopify's Solana Pay, enabling USDC stablecoin payments.

Latest news

Jingle Bulls: How Will The Santa Rally Impact Amazon And Apple?
Jingle Bulls: How Will The Santa Rally Impact Amazon And Apple?

As the year winds down and the festive spirit takes hold, the stock market often presents a curious yet anticipated phenomenon known as the Santa Rally. Within this whirlwind of festive trading, let’s look at how two titans of the tech world, Amazon and Apple, might fare during this unique season.

XAUUSD: Fake breakout or new reality?
XAUUSD: Fake breakout or new reality?

Gold price (XAU/USD) experienced a notable turnaround, gaining fresh bids after a $125 pullback from its recent peak. Federal Reserve Chair Jerome Powell's recent speech suggested a reluctance towards aggressive rate cuts, dampening speculations of immediate policy easing. Market sentiment leans towards the belief that the Fed has concluded its tightening cycle, with a growing...

Is Bitcoin Set to Drop?
Is Bitcoin Set to Drop?

Bitcoin's price remains stagnant despite the Fed's slightly less hawkish tone. In contrast, Bitcoin has outperformed other assets, doubling in price from $16K to nearly $38K this year. Improved fundamentals, including the resolution of Binance concerns...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera