“Give green, buy red” 

Checking the price chart, the capitalization of the project is the first and most important step before you invest money in the project.
When the coin/token you want to invest in has risen too high (made a new peak) or is growing strongly, it is best to skip it and find another project.
On the other hand, if you enjoyed this project, save it on your long-term watch list.
When the market corrects, this coin/token falls to the reasonable buying price range to consider entering the order.

Price increases sharply or makes a new peak=> Please ignore or put in watchlist to watch later. 

The sideways price accumulates over a long period of time => put in the watchlist to watch later.

Identify the puzzle piece, the business model of the project

Find out which project you want to invest in in the crypto market: Layer 1, Layer 2, AMM Dex, Lending-Borrowng, Launchpad, ..

After determining, go to the project's website or go to Google to read articles, terms and information related to the project to have an overview and be able to answer some of the following questions:

What is the product of the project? 

Where does the revenue come from? 

Who is the target audience?

Development team, project advisor (Team, Backers & Partners)

Learn about the project's development team, advisors and partners:

Who are they? Have you had a lot of experience? Is there a name in the market? Or have you done any projects in the past, have you been stuck with Fud?

Is the development team large or small? Backers influence, is there enough staff to grow?

After identifying the developers, you should search for these names on Google or go to Crunchbase to redefine the information. Follow their Twitter, see posts related to the project, scroll down to see more comments to find out the attitude of the community.

Similar to backers, you go to Messari, CypherHunter to read more information about these people. These are reputable sources to help you verify that the project information given is accurate or not.

Accurate data on finance and technology used by the project

Projects with strong finance are also a plus because the team with excess money can inflate prices and create marketing effects. For projects that raise little capital, they will face great difficulties in the downtrend season, not having enough funds to maintain and develop.

So, you need to find out about the total amount of money the project raised through funding rounds? What is the company valuation?

Besides, you need to know the basics of what technology the project uses (POS, POW, ... or Layer 2 like Plasma, Zk rollup, ...)

Project Tokenomic (important)

Use CoinGecko or CoinMarketCap to check what the project's market cap is. See where the project is located at 100 million USD, 1 billion USD and 10 billion USD to put in low cap, mid cap or large cap to forecast the future.

Check the total supply, the supply circulating in the market, the project's shark wallets (discharging or consolidating,...). Price of Seed, Private, IDO,... Compare the current price with the price at that time.

After determining which segment the project is in, you should check the token release schedule. How are token holding groups distributed, is it reasonable, and what is the schedule for unlocking and paying tokens?

Community & how the project does marketing

The project to be successful needs to have a large community. You need to follow the project's communication channels (Telegram, Twitter, Medium, Discord,...) to read comments from the community.

See the quality of team members, how are they discussing the project? Does the community management (CM) team support members well?

Besides, you can go to GitHub to check if the project has new updates. Be careful with projects that haven't been updated for a long time.

Roadmap (roadmap) 

Read the roadmap and check if the project team is sticking to the plan and completing it quickly or slowly, has there been any changes.

=> The project is required to publicize the future development roadmap. You can read it on the whitepaper, Medium or the project website.
Don't invest in projects that don't have a specific roadmap or that change frequently.

Research the project's on-chain data 

Here are 4 on-chain data of the project that you need to care about:
Use Defillama, Defipulse to track the total value of locked accounts (TVL), Dapps, puzzle pieces, the actual number of users of the project (active or not).
Use the project explorer to check the number of wallets, the number of coin/token holders, transaction orders,...
Monitor the daily trading volume of the project, whether the project has high or low liquidity,...
Use Token Terminal to track the project's revenue more or less.