There are countless crypto assets available for traders and investors, so it can often be challenging to narrow down focus and spot the best ones out there. In this article, which is the first installment of an upcoming series, we’ll try to bring three to four tokens each week for everyone to keep an eye on. Ethereum (ETH), Bitcoin (BTC), The Graph (GRT), and Axie Infinity Shard (AXS) form this week’s pack—read on to see why.
First let’s have a look at the criteria we use to evaluate crypto assets. In trying to be as objective as possible, the most influential aspect of the evaluation is always price performance over the past days, as well as the overall, higher time frame development. Another trait we consider is the current, general sentiment about the token, as well as the news surrounding the asset, be it negative or positive. With that in mind, let’s see the cryptos that made it to the list this week.
The first asset is Ethereum, which is seemingly accumulating around the $1,800 level. The second-largest crypto asset by market cap has managed to break above $2,000 recently, albeit for a very short period only. Nevertheless, it appears that the $1,800 level is held tight by investors, and that ETH could be preparing for a dynamic breakout. This could be influenced by BTC’s price action, too, which notoriously drags altcoins with it in either direction. In any case, we should follow ETH closely and see whether the token will manage to reclaim the $2,000 level this week.
Bitcoin (BTC) has closed one of its best weeks recently, which could be a great sign for bullish investors and traders alike. The largest crypto asset by market cap managed to slowly build up from the $29,000 level all the way to above $30,000, which seems to be consolidating. If bulls manage to get a grip at this level, they could use it later as a jumping board for an attempt to push the price higher. With that said, watch whether BTC manages to hold its value above $30,000 this week.
The Graph (GRT) looks to be a random choice this week, however, the “Google of the crypto world” has some points going for it. First off, GRT had a sharp breakout last week, rising from $0.14 all the way to $0.17. The price has experienced a correction since, and it seems that the $0.15 is the level it attempts to settle at. In any case, we’ll have to see whether GRT manages to break $0.16, or even $0.17 again this week.
Axie Infinity, the popular decentralized Play-to-Earn (P2E) game, recorded a positive week and a significant increase mid-way from the $20 level up to $27 within a day. The price corrected to $20 later, and traded sideways the whole week, which could suggest that another breakout could be on the way, be it negative, or positive.
Monitoring the entire market is almost impossible, but by choosing a few assets and focusing attention on them, investors can increase their accuracy and act faster if need be. This week, watch ETH, BTC, GRT, and AXS to see whether they are bound for positive developments, or will fail to keep their prices steady and lose grip in the upcoming days.
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