Low Cap Assets are always one of the crucial parts of a balanced portfolio. These gems can be bought at a discounted price and offer massive returns during bull runs. Thus, today we’ll analyze three Low Cap cryptocurrencies with a strong bullish setup that hold massive growth potential in the near future.
In the daily time frame chart, the MultiversX coin price shows the formation of an inverted head and shoulder pattern. This pattern consists of a large swing low- the head, and two shorter swing lows- the shoulders and key resistance called the neckline.
As of now, the coin price currently trades at $39.9 and trying to sustain above local support of $39.5. If the coin price manages to sustain above the aforementioned support, the buyers may drive a 15% rally to challenge the pattern’s resistance trendline. Thus, a potential breakout from the trendline will signal an early sign of a trend change.
In Ideal conditions, the neckline breakout may push the EDLG price to the $69.3 mark
Similar to EGLD, the Immutable price has been forming an inverted head and shoulder pattern for the past 11 months. This pattern is one of the most commonly observed reversal patterns at market bottoms, offering long entry opportunities upon the breakout of neckline resistance.
The IMX price is currently forming the right shoulder pattern of the pattern, which may find support at $0.94 or $0.8. By the press time, this altcoin traded at $0.957 with an intraday loss of 1.54%. If the coin price manages to sustain above the aforementioned support, the buyers would replenish the bullish momentum and rise back to the overhead trendline.
Under favorable conditions, a breakout above the trendline will drive the price to $2.846.
Also Read: 15 New Cryptocurrencies To Buy In 2023
Over the past nine months, the Arweave(AR) has been in a steady downtrend under the influence of two converging trendlines. In the weekly time frame chart, these trend lines reveal the formation of a falling wedge pattern, which offers a massive upswing upon the breakout of the overhead trendline.
As of now, the AR price traders at $7.85 and is chasing the lower support trendline of this pattern. Anyhow, interested buyers can look for any entry opportunity when the price rebounds from the support trendline or breach the overhead resistance trendline.
A successful breakout from this pattern could lead the AR price to the $17.68 mark.
The post Top 3 Low Cap Cryptocurrencies to Maximize your Investment Returns in 2023 appeared first on CoinGape.
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