S Web3 Tokens To Watch In 2022

The Web3 hype has kicked into another gear this year following last year’s explosive adoption. And although metaverse and GameFi tokens that give retail investors access to the Web3 opportunity declined significantly earlier this year, this was partly due to the overall crypto market plunge.

Looking forward, it looks like the market is beginning to recover, making it an exciting time to invest in Web3 tokens. Here are a few that could deliver significant returns in 2022.

Polkadot (DOT/USD)

Polkadot is an open-source multi-chain protocol that allows developers to launch blockchain projects on multiple networks. It also facilitates the transfer of assets across chains. 

Polkadot’s parachains ecosystem could be useful in the Web3 era, allowing gamers to use their in-game items across several projects. The rapid growth of the metaverse could accelerate the adoption.

(Click on image to enlarge)

Technically, the DOT token seems to be trading within an ascending channel formation in the hourly chart. It recently broke above the 100-hour MA, signaling a bullish trend formation.

Traders can target upward profits at about $19.81 and $21.37, while $18.15 and $17.39 are support levels.

Gari Network (GARI/USD)

The Gari Network is the utility token of the NFT marketplace Chingari, an Indian-based short video sharing platform.

The platform is created to allow actors and artists to make money by sharing short videos as NFTs. Popular Bollywood actor Salman Khan recently launched his NFT collection on the platform.

Chingari raised $15 million last week to accelerate its expansion in the country, thereby drumming up its user acquisition campaign.

(Click on image to enlarge)

Technically, the GARI token seems to be trading within a gently ascending channel formation after bottoming at $0.26. 

Traders can target profits at $0.33 and $0.35, while $0.28 and $0.26 are support levels.

Stacks (STX/USD)

Stacks is a layer-1 blockchain protocol created to bring decentralized applications and smart contracts to Bitcoin (BTC/USD). As the world’s most popular cryptocurrency, bitcoin could help drive the adoption and penetration of the Stacks solution in the market.

(Click on image to enlarge)

The STX token seems to have recently bottomed, triggering a rebound. It has now rallied to trade above the 100-hour moving average, indicating a bullish trend formation.

Traders can target extended rebounds at about $1.49, or higher at $1.66, while $1.37 and $1.30 are support zones.

Hive (HIVE/USD)

Hive is a decentralized information-sharing network launched in 2020. The platform also has a blockchain-based financial ledger built on the highly scalable and energy-efficient proof-of-stake ecosystem.

The expansive growth of the metaverse creates an opportunity for platforms like Hive to exploit, given the information-sharing needs of the new immersive world.

(Click on image to enlarge)

Technically, the HIVE token seems to have recently spiked, completing an upward breakout above the 100-hour moving average. 

Therefore, investors could target extended gains at about $0.96, or higher at $1.01. On the other hand, $0.84 and $0.78 are crucial support levels.

BitTorrent (BTT/USD)

BitTorrent is a popular peer-to-peer file sharing and torrent platform that has embraced the concept of decentralization. The platform was purchased by blockchain platform, Tron in 2018, giving it a new direction. Since then, the platform claims to have become the largest decentralized P2P communications protocol.

(Click on image to enlarge)

Technically, the BTT token seems to be trading within an ascending channel formation in the 60-min chart. The price of one BTT to the USD recently crossed the 100-hour moving average, before finding resistance.

Although it currently trades at $0.0021, BTT has a market cap of nearly $2 billion. Investors can target upward profits at about $0.0022 and $0.0023, while $0.0020 and $0.0019 are support levels.

 

Disclosure: The material appearing on this article is based on data and information from sources I believe to be accurate and reliable. However, the material is not guaranteed as to accuracy nor does ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.