Published 10 minutes ago by
Brian Bollinger. The cryptocurrency market has seen a halt in the intense buying activity that was witnessed in January 2023. This has led to a sideways movement in most major cryptocurrencies. This consolidation period may revive bullish momentum and provide traders with opportunities to enter the market. In this article, we will analyze some of the top Mid-Cap cryptocurrencies that hold the potential for significant growth in 2023.advertisementSolana (Market Cap-$8.69B)Source- TradingviewThe Solana coin price witnessed an explosive rally in the recent recovery of 2023, as it was badly oversold due to the FTX crypto exchange crash. The coin price rose 173% since January 1st to $27, forming a local high at $27. The SOL price has been oscillating within a narrow range for the past three week. This consolidation phase could provide a short break for buyers to replenish bullish momentum. Trending StoriesThe SOL price could reach a target of $30, $35 or $38 in the near future. Source: TradingviewPolkadot (Market Cap-$7.7B).Source: TradingviewOn January 14th, the Polkadot cryptocurrency made a huge breakout from the resistance trendline that had been in place for eight months. This is one of the most well-known bullish continuation charts structures, which forms a directional upward trend for coin holders. The coin price has risen 18% since the post-retest rally, and is currently trading at $6.7. However, it could reach the lower high peaks that were formed during the pattern formation of potential targets after the breakout. Thus, with sustained buying, the DOT price could hit the $8, $9.6, or $11.8 marks,Avalanche(Market Cap-$6.39B)Source- TradingviewThe last three months’ price action in the Avalanche coin shows the formation of a rounding bottom pattern. This is a sign that a trend has reversed and an asset is recovering. Thus, on January 27th, the coin price gave a bullish breakout from the $20.2-$19.7 neckline resistance of the aforementioned pattern.advertisementHowever, with the ongoing uncertainty in the crypto market, the AVAX price is still hovering above the breached resistance, showcasing its sustainability at higher levels. If the buyers could hold this level, the rally could push the prices up to the $25.8 to $30 mark. Share this article:About the author
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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. Close Story