ATOM, AVAX, LUNA and SOL - the future of crypto?
Greetings fellow traders. Here are 4 of my newer crypto favs and a brief writeup for each. In common with all is the consolidation going on in general with most of crypto. Sources for analysis are CoinGecko, messari.io and lunarcrush.com and of course the charts . VPOC is based on daily over the last 6 months or so. I include social media rankings simply because sentiment is huge in crypto with all the different projects out there.
These are all pretty much an “Ethereum killer” class and all have their own blockchain. While I don’t think ETH is going away, these projects will definitely continue eating into the market share. While most of my portfolio is still in BTC and ETH, I am currently holding about 50% in cash and/or stable coins and have small positions in all of these as well as some others. I’m looking to add to these positions and have trimmed out some of my less interesting and poorer performing projects.
Cosmos (ATOM) #20 – Needs to hold the 24 level with major resistance at the vpoc around 36. Volume seems steady but not really trending up but I do think Cosmos has lots of potential. They score well in social media. I currently have a small stake but will add if it breaks above 36.
Avalanche (AVAX) #10 – Really like AVAX as there are tons of projects using this chain. Needs to break and hold above the descending wedge line and over the vpoc around 90. Average volume is trending upward. One of their issues is they are doing a poor job in the social media, but the word is they are too busy developing and don’t have time LOL I currently hold about 7% of my active folio.
Terra (LUNA) #7 – This is my newest position and is outperforming most of the market. Has major resistance around 100 at ATHs. Volume is low however in comparison (3.3k daily) and is not trending upward. That said it seems to have solid social metrics, a stable coin (UST) and the Anchor protocol, which is moving well, is built on Terra. Small position, looking to add.
Solana (SOL) #8 – SOL has taken more of a beating in the recent market pullback than the rest of this list but still a solid choice. Looking for a break about the 50ma (~102) and confirm over the descending trend line. Similar to AVAX they don’t score well in social media context. I hold about 7% of my current active folio.
Cheers!
These are all pretty much an “Ethereum killer” class and all have their own blockchain. While I don’t think ETH is going away, these projects will definitely continue eating into the market share. While most of my portfolio is still in BTC and ETH, I am currently holding about 50% in cash and/or stable coins and have small positions in all of these as well as some others. I’m looking to add to these positions and have trimmed out some of my less interesting and poorer performing projects.
Cosmos (ATOM) #20 – Needs to hold the 24 level with major resistance at the vpoc around 36. Volume seems steady but not really trending up but I do think Cosmos has lots of potential. They score well in social media. I currently have a small stake but will add if it breaks above 36.
Avalanche (AVAX) #10 – Really like AVAX as there are tons of projects using this chain. Needs to break and hold above the descending wedge line and over the vpoc around 90. Average volume is trending upward. One of their issues is they are doing a poor job in the social media, but the word is they are too busy developing and don’t have time LOL I currently hold about 7% of my active folio.
Terra (LUNA) #7 – This is my newest position and is outperforming most of the market. Has major resistance around 100 at ATHs. Volume is low however in comparison (3.3k daily) and is not trending upward. That said it seems to have solid social metrics, a stable coin (UST) and the Anchor protocol, which is moving well, is built on Terra. Small position, looking to add.
Solana (SOL) #8 – SOL has taken more of a beating in the recent market pullback than the rest of this list but still a solid choice. Looking for a break about the 50ma (~102) and confirm over the descending trend line. Similar to AVAX they don’t score well in social media context. I hold about 7% of my current active folio.
Cheers!
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