The crypto market is showing a slight recovery at the time of publication. Bitcoin, the key currency, has again reached a level of around $ 58,000 after testing the important support zone between $ 55,000 and $ 56,000 yesterday.
It remains to be seen, however, whether the most recent correction phase is over and the crypto market can now do a bullish rally towards the end of the year. Should BTC / USD continue to rise, there will be strong trading volume in the range between $ 60,000 and $ 65,000 as the price has stayed at these levels for a very long time in this bull market.
Some resistance is to be expected here on the way to new record levels. For Bitcoin buyers , it could therefore be advisable to wait and see whether Bitcoin can overcome the major resistances or whether the support zone may be tested again in the area of 55,000 dollars.
Regardless of the BTC trend, some altcoins are currently no longer holding and are rising at a great pace. The top trending coins currently include GALA, CRV and IMX. An analysis of the courses can show whether the purchase of cryptocurrencies could still be worthwhile despite the rally. It is also worth taking a look at the assessments of analysts as to whether the Altcoins are also a good investment in the medium to long term.
GALA: Gaming tokens rise 70 percent in one day
Probably the best trend of all top 100 crypto currencies by market capitalization is currently the rate of GALA / USD. Within a day it was a whopping 70 percent up. GALA buyers can look forward to one of the best investments currently in the crypto market. And the weekly balance for the gaming coin is even more bullish. So there is an increase of 230 percent.
The price is currently quoted at $ 0.71 and market capitalization has grown to just under $ 5 billion. In the ranking of the most valuable cryptocurrencies, GALA is currently in 42nd place. Within the past 3 months, the price has exploded by more than 2300 percent. In this comparison, too, GALA is ahead of all the other top 100 coins and has risen more than twice as much as the currently very popular metaverse coin SAND.
The keen interest in buying GALA is also reflected in the trading volume. In the past 24 hours, this has climbed a further 50 percent to more than 10 billion dollars.
The analysis of GALA's 1-hour chart shows an ascending parallel channel in which the altcoin has been moving since November 15th. GALA has tested the upper resistance range several times and has only recently reached a new all-time high. As long as GALA can hold in formation or even overcome the resistance, the price could continue to rise. However, if the altcoin falls back to the resistance line around $ 0.5, another correction could occur if the support does not hold.
The analysts at Wallet Investor do not initially expect further growth potential and expect a slight price decline within the next 12 months. But in the medium to long term, the experts come to a bullish assessment of the altcoin.
For 2023, growth of around 30 percent compared to the current level is expected. By the end of 2026, the forecast is even a plus of more than 140 percent. That could bring GALA / USD to around $ 1.8.
CRV: Curve DAO token rallies 20 percent
The traffic light for the rate of CRV / USD is currently clearly bullish. Buyers of the Curve DAO token have seen a 20 percent increase since yesterday. Over the past week of trading, CRV has even climbed more than 45 percent. The trading volume also shows keen interest in the altcoin. At more than $ 1.5 billion, it's up more than 50 percent in 24 hours.
However, the CRV token is still a long way from its highs from last year. On August 14, 2020, CRV / USD reached a price of more than $ 60. Currently, however, the price is only 5.87 dollars, which means a blatant minus of more than 90 percent compared to the all-time high.
On the 1 hour chart it can be seen that the price has formed a bullish double bottom and has successfully broken out to the upside. However, CRV / USD has already hit the technical price target of 6.2 dollars with pinpoint accuracy.
Accordingly, the altcoin has been corrected precisely at this point, which also represents the resistance line of the parallel channel, and is currently in a slight downward trend again. The emerging double-top formation could lead the price back to a technical price target of around $ 5. Here investors should act accordingly cautiously.
Wallet Investor's medium to long-term forecast is clearly bullish despite the current warning signs. Continuous growth is expected over the next few years. After a consolidation at a slightly rising level, the analysts expect the share price to increase by almost 150 percent by the end of 2026. That could push CRV / USD to almost $ 14.
IMX: 55 percent plus in one week
IMX can also be counted among the current top trending coins. Anyone who trades the altcoin on a crypto exchange can look forward to an increase of more than 50 percent within seven days. The momentum is also convincing with a plus of more than 10 percent within 24 hours.
IMX has thus made a leap into the top 80 of the most valuable cryptocurrencies and the market capitalization has climbed to around 1.8 billion dollars. For the altcoin, the current price of more than 9 dollars per token also means an all-time high.
The chart pattern of the rising wedge in which the Immutable X Coin is moving leaves room for improvement. The altcoin in this formation could easily rise above the $ 10 mark before resistance is expected.
However, a bearish double top could also occur if the price no longer rises and thus forms two similar pronounced tops. It would be important for the altcoin to hold the previous all-time high of November 21 at around $ 9 as new support so that the rally can continue.
Wallet Investor is extremely bullish about the further development of IMX in the next few years. The forecast far exceeds expectations for the other two coins featured. Growth of more than 900 percent is expected in the next 12 months. By the end of 2026, the analysts even expect the share price to jump by more than 4,700 percent. That would catapult the price to a level of more than $ 440 per token. If the analysts are right, IMX is a very exciting investment for the future.
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