Today‘s crypto watchlist will cover some new tokens first as well as some previous covered ones, which will get a short update afterwards. You can read my latest crypto watchlist here:
Let‘s get right into it!
Short
Solana
Solana is a layer one Blockchain probably known by most people. It is one of the major blockchains people use for NFT trading/investing. Due to its high transaction speed (transactions-per-second; tps) and its low transaction cost it is perfect for it.
Further has Solana been one of the main cryptos to watch with the recent bust of FTX and has been said to „go down“ by some. I don‘t think this will go down, but will be one major blockchain in the coming years with immense upside, but at the moment I see the price of Solana struggling. I am looking for it to give back some gains, take a look at the daily below yourself.
Bitcoin
I don‘t think I have to introduce this one, it is known by everyone, possibly more than cryptocurrency itself. BTC has seen a steep rise in a short amount of time and will give back gains at some point. Not saying it is going back down to $15k, but it needs healthy price movement to hold up the recent levels. From there on I am still bearish overall, as we are still in a bear market.
US equity markets overall are also still in a down trend. Until this one is broken I am still seeing some big correlation between the $SPY (as an example) and BTC.
Long
Gala
This one is holding up very well lately and I think with people going Short this one got real good squeeze potential. The longer it holds up, the bigger the potential. It held the $0.046 area very well in the last days. As long as it holds above I think this can break the recent high of around $0.057 to the upside. Let‘s take a look at the daily below!
No changes
Aptos
Not a lot has changed on the Aptos idea, besides it rallying higher to the $19s. Be careful, but prepared. You don‘t have to get a top or bottom. Take your piece of the pie and move to the next one. Daily chart below.
Magic
It is rallying a bit again, but I keep my plan on this one.
Optimism
Still optimistic for it, but need to see if it got the power to get to $3. If it does I think it will rally a lot higher.
As all that is said, have a great day. If you would like to see articles regarding crypto trading and NFTs, take a look at my website at niklasschomaker.com.
Niklas
This is not financial advice, it is for educational purposes only!