The crypto currencies with upside potentials are the ones that can standout in 2022.
Bitcoin broke above the 20 day exponential moving average (MME) at $49,832 on December 23rd , but moving forward the rally hit a hurdle at the 38.2% Fibonacci retracement level at $52,314. This indicates a force on further sales.
Meanwhile, if the price rebounds from the $45,000 range and exceeds $52,314, that means Bitcoin settlement has turned positive and traders have bought dip as a buying opportunity. Then Bitcoin can rise to the 50% retracement level of $55,500. And later on, to the 61.8% retracement level of $58,686.
Terra recently broke the $100 mark, setting a new all time high and market capitalization exceeded $36 billion taking 9th position in the top 10 surpassing Polkadot. (DOT).
Terra blockchain underpins a decentralized finance (DeFi) ecosystem that creates algorithmic stablecoins. Stablecoins or cryptocurrencies pegged to reserve assets like the US dollar, are frequently used in DeFi applications like lending or borrowing.
“Terra is the hot dot among the cool kids in crypto presently. Alot of people love the team behind Terra and love all the various applications being built on it” according to CNBC.
If Terra is able to hold $71.7 to $77.9 range, then a new all time above $104 will come soon. In such a case Terra has clear chances to cross $150 after the necessary correction. As in December, the total value locked in Terra exceeded $18 billion, making it the second DeFi coin after Ethereum in terms of Total Value Locked.
3. NEAR PROTOCOL
NEAR Protocol coin, it has gained some serious momentum after breaking the falling wedge pattern on 23rd December.
The NEAR Protocol team announced on 23rd December that Terra will deploy it’s stable coin UST on the NEAR and Aurora ecosystems. NEAR price rose by more than 50% after the announcement made.
However, if NEAR price can hold the $11.5 to $12.3 range, it will be a positive indication, signalling the resumption of the uptrend. The bulls can take the opportunity to take NEAR price above $15.93 and then to a new all time high $19,95 mark.
Polygon (Matic) has seen a strong upward trends over the past few days. Matic hits another new all time high of $2.92 on 27th December, and now ranking the 14th biggest cryptocurrency in the world by market value. Matic’s market Cap reached $20,268,938,498 crossing top coins like Uniswap, BUSD, Litecoin and Chainlink getting to the top ten position.
Meanwhile, if the bulls keep the price above $2.70, the coin could start the next leg of the upward trend. If Matic can hold $2.7, then it may go up first to $3,41 and if this level is breached, the bullish move could hit the psychological $5 mark for sure.