Following the dips – Top crypto assets to watch in the recent slump
The crypto market has dipped quite significantly in the last two weeks or so. Bitcoin for instance has tanked below $40,00 after recently testing $45,000. It’s not clear when the downtrend will abate. But even then, there are still some decent dips that you can consider. Here is why:
The current dip has been triggered mostly by geopolitical factors.
There is no significant systematic risk in the market as of now.
The crypto market is expected to rebound in the near term.
So, if you want to ride the coming recovery after the recent slump, then we have some assets to watch out here below:
Ethereum (ETH) was predicted to hit $10,000 in 2022 after a very good performance in 2021. But the coin has not started the year in the same fashion. After slumping to around $2000 in January, we saw some decent bullish momentum at the start of this month.
Data Source: Tradingview
At some point, ETH was even about to thrust over $4000. But ever since, the coin has fallen. At press time, it was trading at around $2500. We expect ETH to bounce back to $3200 in the near term, so it’s a great dip to check out.
Near Protocol (NEAR)
The fundamentals of the Near Protocol (NEAR) have often been quite decent to say the list. But the coin is really bleeding right now, losing over 20% in the last 7 days. Although a rebound won’t come soon, it will manifest eventually. NEAR is at the moment is trading at $8.63, a massive discount considering the potential it has.
Theta Network (THETA)
Theta Network (THETA) has also been in the crosshairs of the Ukraine-Russia tensions. The coin has fallen by over 25% in the last 7 days. This weakness is likely to continue of course but there is still a lot of upsides to gain once the market rebounds.