Top 3 Altcoins to watch going into 2023: Safepal, Lido Dao, Uniswap


  • The Crypto Total Market Cap has fallen to $750 million.
  • DEX tokens could witness an offer following the outcome of the Centralized FTX Exchange scandal.
  • SFP, LDO, and UNI are DEX tokens on the market that have shown strength despite the general demise of the market.

Safepal’s price surprises the market

Safepal (SFP) price experienced a 180% rally in November, while total market capitalization fell 25%. A strong rally occurred during the third trading week of November, setting a new monthly high of $0.81. Now, as the market has witnessed another sell-off, the price of the decentralized wallet and exchange token is hovering around $0.48, 70% above the point of origin of its staggering rally.

At the time of writing, the Safepal price tests support from the 21-day SMA. If the bulls can find a stable leg, a challenge of the new highs could occur. Bullish targets would be the $0.81 high and potential liquidity levels near $0.84 to induce a market capitulation from the newly established bears. The invalidation of the uptrend potential remains near the point of origin of the 180% rally at $0.28.


SFP/USDT 1-day chart

Lido Dao price has potential

The Lido Dao price is another altcoin that has shown strength despite the demise of BItcoin.

Since June, LDO has pumped 560%. The overcoming of multi-network staking coin has speculators wondering if the LDO price has any potential to generate more profit.

The Lido Dao price is currently auctioning off at $1.10. A Fibonacci Retracement Tool circling the entirety of the impressive rally shows that the current price is holding just above the 61.8% Fibonacci level. The volume profile indicator shows fewer trades during the current downtrend compared to the influx of buying pressure that kicked off the impressive summer rally. The Relative Strength Index has moved back up to support after briefly marking oversold levels when Lido Dao bounced off the 61.8% Fibonacci level at $0.93 earlier in the month.

Combining these narratives, the Lido Dao price has the potential to challenge bears who may have recently established a position near the $2$3 levels. LDO Uptrend potential depends on the point of origin of the rally 5x to $0.49, remaining unchecked.


LDO/USDT 1-day chart

Uniswap price is one to watch

Uniswap price is worth keeping on your watch list, especially if a Christmas rally blesses the crypto market. Between June 14 and August 12, the UNI established a 2X lockdown. After the impressive move north, the Ethereum-based token exchange has since fallen by 50% and has remained in a range between $5 and $8.

The Uniswap price is currently auctioning at $5.84. Glasnode’s Exchange From Withdrawals indicator showed the largest increase in UNI withdrawals across all exchanges on November 13. Based on historical evidence, large increases in withdrawals from all exchanges have resulted in strong counter-trend bounces for the UNI price in the past. The last time the indicator was shown comparable The metric was in September 2021 when UNI was trading at $20, days before rising 20% ​​to $25.


Glassnode Exchange Withdrawals

Like Lido Dao, Uni also sits above the 61.8% Fibonacci level, considered the “golden pocket” where opportunities are plentiful and promising. A challenge of the 2x rallies top at $9.72 would result in an 88% rise in current market value. Invalidation of potential upside would be June 18 low at $3.33


UNI/USDT 1-day chart

In the video below, our analysts take a deep dive into the price action of Pancakeswap, another decentralized exchange (DEX) token that analysts are keeping an eye on as 2022 comes to a close. -Street Team FX