Recently, the market for cryptos has witnessed a notable shift in price movements as they surged from critical support levels. The crypto market cap has been experiencing a slight relief lately, with the aim to regain its $1.2 trillion resistance level.
This positive trend has resulted in a bullish outlook, and several cryptos have rallied significantly, generating double-digit gains.
As we delve into the current state of the crypto market, it’s essential to highlight the top five cryptos worth keeping an eye on this week.
Top 5 Cryptos Showing Resilience And Potential For Growth
Despite the ongoing lawsuit by the U.S. Securities and Exchange Commission, investors in the token are expecting Ripple to come out triumphant in its battle against the regulatory body. Based on data by CoinGecko, XRP posted a 20% increase in the last seven days at the time of writing.
The token is trading between $0.43112 and $0.47556 which shows a very tight trading range. Couple this with a very bullish community, the token has a higher possibility of an upside. In the meantime, investors should try to defend the $0.43112 support.
Defending this would enable the bulls to target $0.47556, which would open up the path to $0.57496.
After the XDC Network Andromeda upgrades back in December, XDC has been under the limelight of investors. XDC, the native token of the ecosystem, experienced a rally. According to CoinGecko, the token is up more than 14% in the weekly timeframe.
Based on its technicals, the XDC token is a strong buy for investors right now. However, XDC might experience a short correction in the short term if the bulls show exhaustion in the daily timeframe. Investors should then focus on defending the $0.03794 support line to provide the bulls a springboard for higher highs.
Litecoin has been on the minds of investors in the past couple of days as it showed bullishness in the long term. According to analysts, the token is back to its monthly support which would give LTC a significant leg up in the coming months. The coin’s halving event in August is also expected by the investors to boost its price.
$LTC is back at monthly support , next few months will be interesting🔥 #litecoin #ltc pic.twitter.com/oGrWC0ogLP
— Mags (@thescalpingpro) March 23, 2023
The token is currently trading on a red candle which is a sign that investors are gaining profits. LTC might experience an explosive upward movement in the coming days as it is oscillating between $90 and $96. If the token breaks through $96 in the coming days, LTC should be able to regain $100 in the medium to long-term.
Investors are also eyeing this token as analysts show that XLM will move upwards. According to crypto analyst Captain Faibik, the token exhibited signs that it would break the falling wedge formation in the coming days. With the market showing resilience against recent macroeconomic developments, XLM is seen adding more digits to its current price level.
BTCUSD approaching the $28K region on the daily chart at TradingView.com
The bulls are currently held up by the $0.09961 resistance. If this is broken in the coming days, we can expect XLM to settle above the previously mentioned resistance level. This would give the bulls a strong launchpad to reach $0.1 in the long-term.
It seems Centralized staking is officially a thing of the past. This is very bullish for $flr $sgb. SEC cannot sue the blockchain. they can’t sue true decentralization. People will flock to @FlareNetworks . F and S assets will be MEGA pic.twitter.com/0lUy21cZIq
— FLR Monk ⚡️☀️🕊☀️🕊 (@XrpMonk) March 23, 2023
With centralized staking being dismantled by regulatory troubles, Flare network’s approach in staking could give it an edge against competitors. This made FLR bulls more optimistic about the token experiencing 11% increase in the weekly time frame. Analysts are also bullish that the confidence on the network would continue, improving the price trajectory of FLR in the long-term.
The token is currently being supported at $0.02991 which would give the bulls a strong support in the long run. $0.0401926 should be the medium to long-term target for the bulls. A breakthrough above this would regain the token’s February support.