Top 3 cryptocurrencies to see in 2022

Key ideas:

  • The crypto market saw $ 1.8 trillion wiped out during the prolonged crypto winter.

  • Regulatory risk, inflation, fears of a recession and the Fed’s monetary policy remain in headwinds for cryptocurrency investors.

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  • A bottom would give investors an opportunity to acquire Binance Coin (BNB), Bitcoin (BTC) and Solana (SOL) at low price levels.

It has been eight bearish months for bitcoin and the broader cryptocurrency market. By the end of 2021, the threat of a significant change in the regulatory landscape over cryptocurrencies was.

Governments around the world and even the International Monetary Fund (IMF) have called for a global regulatory framework.

This year, inflation, recession fears and a hawkish Fed have added further downward pressure.

To make matters worse, the market experienced its first cryptocurrency top ten crash. The collapse of TerraUSD (UST) and Terra LUNA has led to more calls for greater regulatory control.

From a record high of $ 3.009 billion in November, total crypto market value fell to a low of $ 1.082 billion in May before stabilizing. With the total market value still down by $ 1.809 billion, there are opportunities for investors who can withstand the pressure of crypto trading.

We have selected three cryptocurrencies for 2022.

These are bitcoin (BTC), Binance Coin (BNB) and Solana (SOL).

Bitcoin (BTC)

Bitcoin is the largest cryptocurrency by market value and attracts interest from retail and institutional investors. It is essential that bitcoin is not only the barometer of the crypto market, but also the most stable, backed by a loyal investor base commonly referred to as bitcoin whales.

Since reaching a record high of $ 68,979 on November 10, bitcoin has fallen 62.5% to a year-to-date low of $ 25,836 before finding support. Year to date, bitcoin has fallen 21% to $ 29,680.

With bitcoin adoption gaining traction in multiple jurisdictions, bitcoin remains the target of the cryptocurrency for both experienced and inexperienced investors.

Technical indicators remain bearish so far.

Looking at the EMAs and the 4-hour candlestick chart (below), this is a bearish signal. Bitcoin is below the 50-day EMA, currently at $ 30,092. The 50 days withdrew from the 100-day EMA. The 100-day EMA remained stable compared to the 200-day EMA, neutral BTC.

A shift to the 100-day EMA, currently at $ 30,301, and a bullish cross from the 50-day EMA to the 100-day EMA would signal a shift in sentiment.

BTCUSD 4 hours 040622

The daily candlestick chart confirms the current downward trend.

Bitcoin is below the 50-day EMA, currently at $ 33,303. 50-day EMA withdrew from 100-day EMA, 100-day EMA fell back from 200-day EMA; Bitcoin negative.

A move through the 100-day EMA, currently at $ 36,660, could signal the end of the crypto winter and a return to $ 50,000.

BTCUSD 040622 daily chart

Binance Coin (BNB)

Binance Coin is one of the top five cryptocurrencies with a market value of $ 48.8 billion, and is the original crypto from the Binance crypto exchange.

The world’s leading cryptocurrency exchange is in a state of expansion at a time when other platforms are freezing or declining.

Binance recently obtained regulatory approval to offer its services in France, Italy, Dubai, Abu Dhabi and Bahrain. With trading volume dwarfing its competitors, the stock market and its original token are likely to emerge stronger from the crypto winter.

Another interesting feature of Binance is BinanceChain, a community-based, open source and decentralized ecosystem. Binance Coin is the governance token.

BNB presents a value proposition to investors. From a record high of $ 693.73 on November 10, the BNB has fallen 70% to a year-to-date low on May 12 of $ 206.62.

Year-to-date, BNB fell 42% to $ 298.18 on June 3rd.

Technical indicators are bearish.

Looking at the EMAs and the 4-hour candlestick chart (below), this is a bearish signal. BNB is trading below the 50-day EMA, currently at $ 307. The 50 days withdrew from the 100-day EMA. The 100-day EMA withdrew from the 200-day EMA; BNB negative.

A shift to the 100-day EMA, currently at $ 311, and a bullish cross from the 50-day EMA to the 100-day EMA would signal a shift in sentiment.

BNBUSD 040622 4 hour chart

The daily candlestick chart confirms the current downward trend.

Binance Coin is trading below the 50-day EMA, currently at $ 338. 50-day EMA withdrew from 100-day EMA, 100-day EMA fell back from 200-day EMA; BNB negative.

A move through the 100-day EMA, currently at $ 368, could signal a short-term downward trend reversal and back to $ 400.

BNBUSD 040622 Daily chart

Solana (SOL)

Solana is a top ten crypto by market value, currently ranked ninth on CoinMarketCap, with a market value of $ 12.78 billion.

SOL is the only Web3 in the top 3, although there are other competitors including Decentraland (MANA) and The Sandbox (SAND).

Low transaction fees and its established presence in the Web3 area make SOL a viable alternative to Ethereum (ETH). In addition, an ecosystem with many new projects and demand from DeFi investors contributes to SOL’s attractiveness.

As with the two previous cryptocurrencies, Solana has suffered heavy losses since its peak in 2021.

From a record high of $ 259.95 on November 6, Solana fell 86% to reach a year-to-date low on June 4 of $ 35.72.

Year-to-date, Solana has fallen 78% to $ 38.23 on June 3rd.

Technical indicators remain bearish so far.

Looking at the EMAs and the 4-hour candlestick chart (below), this is a bearish signal. SOL is below the 50-day EMA, currently at $ 42. The 50 days withdrew from the 100-day EMA. The 100-day EMA withdrew from the 200-day EMA; SOL negative.

A shift to the 100-day EMA, currently at $ 47, and a bullish cross of the 50-day EMA through the 100-day EMA would signal a shift in sentiment.

SOLUSD 040622 4 hour chart

The daily candlestick chart confirms the current downward trend.

Solana is trading below the 50-day EMA, currently at $ 65. 50-day EMA withdrew from 100-day EMA, 100-day EMA fell back from 200-day EMA; SOL negative.

A move through the 100-day EMA, which is currently at $ 82, could signal a short-term downward trend reversal and back to $ 100.

SOLUSD 040622 Daily chart

This article originally appeared on FX Empire

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