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Top 3 crypto coins to buy in 2023

Top 3 crypto coins to buy in 2023

Information is not investment advice

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.

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