The consolidation of the digital currency market continues. In the last 24 hours, the Bitcoin price has hardly increased noticeably. This sideways movement represents a much-needed reassurance after a weak end to the last week. Because the US labor market brought interest rate fears back again and weighed on risky asset classes.
Trader Michael van de Poppe recently saw a healthy movement here, also with regard to the breadth of the market. Despite a minor correction, this assessment is unlikely to have changed. Experience has shown that such consolidations offer opportunities.
As a result, investors are increasingly taking a look at altcoins, which are showing relative strength in this market environment. Which cryptocurrencies could you buy now? Three ideas:
Thug Life (THUG)
Meme coins remain worth a closer look in the current market environment. A positive dynamic is also evident in the presale of the new coin Thug Life (THUG), which has since raised over $750,000. Now the presale ends in about seven days. FOMO is likely to hit the pre-sale for the next few days and favor the sell-out. Because only $ 2 million should be collected in advance.
Thug Life has significant viral potential. Much like Pepe the Frog, which became known worldwide as a meme, Thug Life is a symbol of humor and irony. THUG thus seems predestined for a new era in the meme coin market segment, which is quickly spreading through social media and attracting a large community.
With a fully diluted valuation of less than $3 million, a clear focus on the community, some viral hype and the well-known concept, Thug Life could have everything it takes to generate a well-above-average return as early as July 2023. Because 10x and a market cap of then $30 million seem easily possible when momentum meets THUG.
Compound (COMP)
If we look at the top 100 digital currency market over the last 24 hours, Compound (COMP) reveals marked relative strength. As the broad market moves sideways, Compound pumps up 13% in 24 hours. According to aggregated data from CoinMarketCap, this price rise was accompanied by a roughly 150% increase in trading volume – already signaling sustained price action.
At Compound we see a spinning top on the daily chart recently. This indicates increasing indecisiveness in the market. After Compound’s recent parabolic price action, the corrective move may be coming to an end. COMP cleared the overbought state after RSI. The price seems ready for the next up move and benefits from a constructive environment for DeFi tokens.
yPredict (YPRED)
At yPredict is a crypto analysis platform for AI signals and market intelligence that aims to make trading more profitable. The polygon-based YPRED token is currently in pre-sale. This will drive the economy later, at the same time YPRED holders receive a passive income.
Artificial intelligence (AI) is playing an increasingly important role in crypto analysis. Because AI enables more efficient and faster processing of fundamental and technical data. In addition, the AI can recognize patterns and connections in the price movements of cryptocurrencies, which enables well-founded predictions and trading strategies. These skills are attracting more and more investors and traders looking for profitable opportunities in the digital currency market.
However, we are only at the beginning of this development. But ChatGPT may have paved the way for AI tools. With the continuous development of AI algorithms and the availability of powerful computing resources, the effectiveness of crypto analysis will continue to improve. This will drive demand for platforms using AI in crypto analytics over the next few months – to the benefit of yPredict.
If another $100,000 is raised, the crypto presale price will increase from $0.09 to $0.12. This means that there is only a short chance of 33% book profits, which represent both a fraction of the possible return and also skilfully hedge the risk above the individual break-even before the start of public trading – an exciting setup in July 2023.
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