Over the last 24 hours, several china-related cryptocurrencies have shown significant growth, highlighting their names among the highest gainers of the top 100 crypto coins by market cap. The recent surge in these coins may not have a clear-cut explanation, but it could coincide with the increasing adoption of cryptocurrencies amid the U.S. Bank crisis. Thus, today we’ll analyze these fast-recovering coins to determine their near-future potential.
The ongoing recovery in the Conflux coin showed an explosive rally from $0.14 support to the current price of $0.447, registering a 218% growth within a fortnight. This bull run breached several resistances with increasing volume indicating a sustained buying trend in CFX.
Furthermore, on March 19th, the coin price gave another bullish breakout from the $0.4 psychological resistance, offering buyers additional floating to buyers to lead a further price rally.
If the conflux coin sustains above the $0.4 mark, the buyers may drive the price 13% higher to hit the $0.5 mark, followed by $0.6.11
A V-shaped recovery from $0.953 support has surged the EOS price by 26% within a fortnight. Today, the coin price trades at $1.2 with an intraday gain of 4.25%. Amid a strong surge in volume activity, the buyers showcased a breakout attempt from the $1.21-$1.22 resistance zone.
A daily candle closing above the aforementioned resistance will accelerate the buying pressure and push the EOS price 11% higher to meet the $1.34 ceiling.
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The Filecoin recovery rally halts at $6.5 resistance and turns the price sideways to create a narrow range. Over the past five days, the daily chart shows a cluster of price candles confined between $6.5 and $5.5.
This consolidation indicates uncertainty among market participants and the need for a price breakout to establish a directional rally. By press time, the FIL price trades at the $6.09 mark with an intraday loss of 3.7%.
Thus, with the increasing bullishness in the crypto market, the FIL price is likely to breach the $6.5 barrier, which may bolster a price rally to the $7.6 mark.
On March 12th, the Vechain coin price rebounded from the $0.019 support and surged 38.5% higher to reach the local resistance of $0.025. Over the last few days, the coin has been walking a sideways trend struggling to surpass the aforementioned resistance.
Moreover, the decreased volume in the buyer’s breakout attempt to breach $0.025 indicates a weakness in bullish momentum. As of now, the VET price trades at $0.024, but if the supply pressure persists at overhead resistance, the coin can witness a prolonged range-bound rally.
The post Top China Coins to Invest in 2023 appeared first on CoinGape.
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