Bitcoin has managed to climb back to the $30,000 level following a 24-hour low of $29,100, signaling what many crypto traders hope is a continued uptrend that may solidify a wider bull market trend in the crypto markets.
The leading cryptocurrency is sitting at a 2.82% increase in the past day, while ether and other altcoins are also seeing gains.
Ether, for example, rose 0.89% to maintain its position above the $2,000 mark.
How might this resurgence in the cryptocurrency market affect the selection of the best cryptos to buy now?
According to Matteo Bottacini, a trader at Crypto Finance AG, altcoins may exhibit positive momentum with limited downside risk since many of them are currently in a state of uncertainty.
Bottacini suggests that this could be perceived as a high-beta trade, as investors take profits from Bitcoin.
Radix, a blockchain platform designed to support the XRD token, saw a 35% surge within 24 hours, while Arbitrum’s ARB increased by 10%.
Meanwhile, Coinbase CEO Brian Armstrong expressed concerns about the lack of regulatory clarity in the United States during a conference in London.
Armstrong stated that the company might consider various options, including relocation out of the US, to adapt to the current environment.
He believes that the US has the potential to play a significant role in the cryptocurrency market, but regulatory uncertainties are hindering growth.
If these issues persist, Armstrong suggests that the company may invest more heavily in other parts of the world.
And in other news, a recent research report from brokerage firm Bernstein attributes the collapse of FTX as the trigger for a new optimistic cycle in cryptocurrency markets.
According to the report, FTX’s downfall eliminated the final portion of “harmful crypto leverage” and emphasized the value of decentralization and self-custody wallets for digital asset holders.
The report also notes that macro catalysts are lining up in favor of Bitcoin. The current vulnerability of US regional banks, combined with the outflow of deposits towards money-market funds and the four major US banks, suggests an increasing unease regarding the “centralization of money.”
In the current cryptocurrency market, several cryptocurrencies, including LHINU, RNDR, DLANCE, INJ, ECOTERRA, MANA, and TARO, have been identified through fundamental and/or technical analysis as some of the best cryptos to buy now.
LHINU: The First-Ever V2E Platform for Community-Focused Engagement
The cryptocurrency community is taking notice of Love Hate Inu, the latest meme coin, with its distinctive vote-to-earn (V2E) mechanism and staking capabilities.
Since the presale of Love Hate Inu began on March 7, it has managed to accumulate over $4.6 million, positioning it as one of 2023’s fastest-growing cryptocurrency assets.
To mark this impressive achievement, the team has introduced a contest that demonstrates how voting will operate on the platform.
The contest, centered around a Love or Hate Andrew Tate poll, offers participants the opportunity to win $10,000.
Entry is free, conducted off-chain, and participation is straightforward.
By visiting the Love Hate Inu homepage, users can easily join the competition.
If you dislike Andrew Tate, now is your chance to have your say on the platform’s inaugural poll and level the playing field.
This enjoyable and valuable contest serves as a token of appreciation for the community’s unwavering support for the project.
Additionally, the first vote acts as a solid proof-of-concept for the business model.
The Love Hate Inu presale project has raised an incredible amount in a short period of time.
Only less than 6 days remain before the next staged price increase from $0.000115 to $0.000125.
The LHINU presale began at $0.000085, and when it concludes, the price will stand at $0.000145.
In comparison to other meme coins such as Dogecoin and Shiba Inu, LHINU stands out as a unique project.
Its goals are twofold: to introduce an inventive vote-to-earn system that incentivizes users and to create viral memes that can be shared across social media platforms.
LHINU intends to generate revenue for its investors not only through the V2E system but also via brand deals.
The platform enables brands to run polls to obtain authentic product feedback from an engaged community.
LHINU is an intriguing concept that aims to promote community involvement through its distinctive vote-to-earn incentive system.
Owing to its community-focused approach and unique selling features, LHINU has the potential to leave a lasting impact on the crypto industry and it is one of the best cryptos to buy now.
Render Token (RNDR)
Render (RNDR) token is currently experiencing a remarkable 48% price jump so far in April.
The question is whether the uptrend could propel RNDR’s price over its YTD high of $2.19 to reach the $3 mark.
An ERC-20 utility token, Render facilitates connections between artists, content creators, node operators, and GPU capability providers.
The token experienced a 400% spike in January but dipped below $1 in March. Nonetheless, on-chain data now indicates that RNDR may be on track to reach a new high this year.
Data analytics platform Santiment reveals that a considerable group of whales has been propelling the RNDR price surge.
Whales with balances of 1 million to 10 million RNDR tokens began purchasing again between April 1 and April 18, increasing their holdings from 198 million to 206 million tokens.
These new tokens are valued at nearly $16 million at current market prices, approximately $2.1 per token.
Whales tend to have a significant impact on a token’s price trajectory due to their substantial buying power.
As a result, the current whale accumulation wave could send a bullish signal to other network participants.
If these whales continue to buy, Render might experience further growth in the coming days.
RNDR is currently trading at $2.052 with a gain of 3.69% so far today.
While profit-taking could pose an obstacle, breaching the immediate $2.20 resistance zone may lead to a momentum surge, pushing the price toward $3.
It’s essential to note that the bearish outlook could still prevail if Render fails to maintain its current price support level of $1.90. In such a case, the price may drop to the Fib 0.618 level of $1.70.
Deelance’s Web3 Freelancing Model Makes It One of the Best Cryptos to Buy Now
As freelancing becomes increasingly popular, constituting 38% of the global workforce, platforms such as Fiverr have seen impressive growth.
Fiverr’s valuation has risen from $0.75 billion in 2019 to $1.34 billion in 2023.
However, a new player, DeeLance, is entering the scene, aiming to address the limitations of traditional hiring platforms.
DeeLance harnesses the power of blockchain technology in a Web3 environment to create a more streamlined and transparent freelancing marketplace.
In comparison to established platforms, DeeLance utilizes Web3 technologies to offer an array of advantages, such as reduced costs, prompt refunds, and fraud elimination.
The platform’s core values include ownership, simplicity, transparency, and efficiency.
These goals are pursued through competitive fees, accelerated payment processing, and a dependable escrow account system that safeguards transaction security.
DeeLance’s ecosystem provides benefits to both businesses and freelancers.
Transactions are facilitated by smart contracts, ensuring the prompt completion of work and payments.
Non-fungible tokens (NFTs) will also be used to define intellectual property ownership, granting clients full rights to their purchased work while preventing freelancers from reusing completed projects.
By utilizing blockchain technology, DeeLance minimizes the need for third-party involvement, expedites transactions, and eases the hiring process.
Additionally, DeeLance is developing a specialized metaverse for hiring and freelancing, offering virtual spaces for meetings, interviews, and showcasing skills.
Although still in its early presale stages, the project has already attracted significant attention, raising over $265,000.
Potential investors can acquire the token for $0.025 using Ethereum, Tether, or a credit card through Transak.
Injective (INJ)
Despite looming bearish sentiment, INJ is exhibiting resilience as Injective establishes a cloud computing collaboration with Tencent.
Amid its recent surge, Injective’s native crypto, INJ, has grabbed the attention of short sellers. But is a significant pullback imminent or will the upward trend persist? Recent market data provides valuable clues for traders to ponder.
The 20-day EMA stands at $7.76, surpassing the 50-day EMA at $5.35 and the 100-day EMA at $4.29.
This indicates a strong upward trend in the short to medium term.
The RSI clocks in at 75.94, suggesting that INJ is currently overbought.
Traders should exercise caution, as this may signal a potential price pullback in the near future.
Examining the MACD indicator, the previous day’s MACD histogram reads 0.326, while the current day’s value is 0.285.
Although this suggests a possible loss of momentum, the bullish trend remains intact.
As for trading volume, 5.377 million INJ changed hands today, compared to 11.135 million the previous day.
The volume moving average sits at 6.344 million, hinting that the current price breakdown isn’t supported by the volume.
INJ’s price currently stands at $8.701, experiencing a 3.93% decline so far today.
Injective faces immediate resistance at the current swing high of $9.97.
A successful breakout above this level could attract more buyers, potentially pushing the price further up to test the $10.50 level.
Conversely, the Fibonacci 0.236 retracement level at $8.48 serves as potential support. If the price falls below this mark, traders should watch for a possible reversal or consolidation.
Short-term traders may consider entering a long position if the price breaks above the $9.97 resistance level with increased volume.
However, if the price dips below the $8.48 support level, traders should be cautious, as this may signal a further decline or consolidation period.
Given the overbought RSI, it’s crucial to monitor price movements closely and utilize stop-loss orders to mitigate risk.
Ecoterra: The Sustainable Cryptocurrency with Real-World Impact
Ecoterra’s Recycle-2-Earn app is quickly making a name for itself in the cryptocurrency market, having already raised an impressive $1.82 million to date.
The app, which surpassed presale predictions, offers an enticing opportunity for those eager to contribute to its eco-friendly goals.
Due to the surge in demand, the ongoing presale might close sooner than anticipated.
Ecoterra aims to enhance recycling participation, with their app presenting attractive incentives like token rewards for recycling and tracking ecological actions.
The app grants access to marketplaces for recycled materials and carbon offsets, as well as an individual impact profile to follow users’ ecological contributions.
Ecoterra’s decentralized approach has garnered significant interest as it tackles environmental challenges and climate change directly.
Ecoterra has started to integrate products from renowned brands such as Vittel, San Pellegrino, and Pepsi into their app’s database of scannable recyclable materials.
Users can scan items, confirm them as recycled materials, and earn Ecoterra tokens as rewards.
The company has also teamed up with Delhaize, a prominent supermarket chain, which has introduced reverse vending machines in its stores, further encouraging sustainable practices.
Ecoterra enables businesses to create a verifiable ecological impact while eradicating greenwashing.
The transparent blockchain-based network ensures that companies can authentically showcase their dedication to sustainability.
The platform also promotes eco-friendly actions by motivating businesses and individuals to use their tokens for initiatives such as beach cleanups and tree planting.
Ecoterra’s potential to promote a greener future is clear, offering various features like generating income from renewable energy sources and facilitating NFT transactions for ecological actions.
Decentraland (MANA)
Following the breakout from the Fib 0.382 on April 14, MANA has continued to gain momentum, breaking out of the Fib 0.5 level yesterday with a 7.62% gain.
The 20-day EMA ($0.63), 50-day EMA ($0.62), and 100-day EMA ($0.61) all suggest a strong upward trend for MANA.
The recent breakout above the 20-day EMA and the 50-day EMA indicates that the uptrend is likely to continue.
With an RSI of 65.44, MANA is approaching overbought territory.
However, it is still below the 70 threshold, which means that there might be some room for further growth before the token becomes overextended.
The MACD histogram has increased from 0.0086 to 0.0093, signaling that the bullish momentum is picking up. This suggests that the uptrend could persist in the short term.
Yesterday’s volume of 35.575 million was lower than the previous day’s volume of 59.392 million.
However, the volume moving average of 23.324 million indicates that overall trading activity is increasing, which could help fuel the uptrend.
The current price of MANA is $0.6807, with a loss of 1.80% so far today.
While the token has experienced a minor pullback today, this is not uncommon in a healthy uptrend and can offer buying opportunities.
The immediate resistance for MANA is the Fib 0.618 at $0.70. If the token can break through this level, it could further strengthen the uptrend.
On the other hand, potential support can be found at the Fib 0.5 level at $0.66.
Considering the technical indicators and the recent uptrend, a short-term trading strategy for MANA could involve buying on dips towards the Fib 0.5 support level at $0.66, with a stop loss slightly below this level to minimize risk.
Traders may target the immediate resistance at the Fib 0.618 level at $0.70 for profit-taking.
Keeping an eye on the RSI and MACD indicators can help to notice any signs of waning momentum, which could hint at a potential reversal in trend.
RobotEra’s Play-to-Earn Dynamics: The Future of Interactive Metaverse Gaming
As the metaverse continues to slowly make headway as a concept for a future 3D internet, Verified Market Research predicts a colossal value of $824.53 billion in the space by 2030.
Numerous crypto initiatives are sprouting to seize this opportunity, blending financial, gaming, and immersive metaverse experiences for users.
RobotEra, an emerging decentralized gaming project, is part of this shift, piquing the curiosity of crypto and gaming aficionados alike.
This imaginative platform aims to immerse users in a virtual domain where they can purchase land, construct real estate, and amass valuable rewards.
RobotEra’s native token, $TARO, has raised a notable $1.11 million in its presale, reflecting significant global interest to be part of the future of this promising metaverse token.
RobotEra’s comprehensive approach to the metaverse offers an immersive Web3-integrated gaming platform where users can engage with various NFT communities, enabling creativity to come alive in the RobotEra metaverse.
Users can opt for different continents on planet Taro, the game world of RobotEra, with each continent represented by NFT avatar robots belonging to seven distinct camps.
RobotEra facilitates the creation of companion robots to expedite infrastructure building, mineral mining, and raw material gathering across continents.
Users can develop real estate and various assets on their land using their NFT-based robot avatars, all crafted with the project’s intuitive tools.
With $TARO powering these forthcoming endeavors, the asset’s value is predicted to soar.
This news is republished from another source. You can check the original article here.
Be the first to comment