As Bitcoin forges ahead in its pursuit of the significant $30,000 level, the cryptocurrency is experiencing a resurgence of bullish momentum after a temporary dip related to regulatory issues, with investors eying a fed pivot sometime this year. How might this affect the best cryptos to buy now?
Bitcoin saw its value rise for the second day in a row today, gaining 4.14% so far today and trading at $28,401 as of writing.
On Monday, Bitcoin’s price experienced a downturn, hitting a 10-day low following the initiation of legal action against Binance by the US Commodity Futures Trading Commission (CFTC).
The lawsuit accuses Binance of contravening regulations related to trading and derivatives.
As a result, the world’s largest cryptocurrency exchange has seen withdrawals of more than $1.6 billion as of writing.
Binance, for its part, contested many of the assertions presented in the legal filing.
In the ever-evolving regulatory landscape of cryptocurrencies, investors are advised to be cautious and conduct thorough research when choosing which digital assets to invest in.
By carefully considering both the technical analysis and fundamentals, a selection of promising cryptocurrencies has been identified as some of the best cryptos to buy no in the current market: CFX, LHINU, MASK, FGHT, OP, and TARO.
The technical indicators for Conflux (CFX) indicate a strong bullish trend for the Chinese cryptocurrency.
The 20-day, 50-day, and 100-day EMAs of $0.3246, $0.2498, and $0.1787 respectively show a bullish crossover pattern with the shorter-term EMAs crossing above the longer-term EMAs.
This is a bullish signal indicating rising momentum and continuation to the upside.
The RSI of 61.89 is also in the bullish territory above 50. This suggests that buying pressure outweighs selling pressure.
There is still room for continued upward momentum before the crypto reaches overbought levels.
Additionally, the MACD histogram which measures the difference between the MACD line and its signal line shows decreasing negative values.
The previous day’s MACD histogram was -0.0067 while the current day’s MACD histogram is -0.0029.
This convergence reflects slowing downside momentum and potential trend reversal. A cross above the zero line would confirm a bullish trend reversal.
The trading volume of 421.492 million is also higher than the previous day’s volume of 341.255 million and the volume moving average of 672.823 million.
The increase in volume during an upward trend signals buying interest and strength in the trend.
However, the volume moving average is still significantly higher than the current volume, indicating some weakness in momentum.
For the upward trend to be sustainable, volume levels should increase to surpass the volume moving average.
In addition, CFX has been trading sideways above the 50% Fibonacci retracement level for the past four days.
The crypto is now attempting to break out of its consolidation range of $0.3050 to $0.3600 as it trades at $0.4132 with a gain of 16.66% so far today.
If Conflux successfully closes above the Fib 0.786 level at $0.4117, it can surge toward the next resistance level of $0.4876, which is the YTD high for the cryptocurrency.
Meanwhile, potential support levels lie at the Fib 0.618 retracement of $0.3520 and the 20-day EMA of $0.3246 in case of a failed breakout.
The technical indicators suggest a bullish trend for Conflux (CFX). However, volume needs to increase and CFX needs to break out of its consolidation range to confirm sustained upward momentum.
The Meme Coin to Watch: Love Hate Inu’s Presale Attracts Investors
Love Hate Inu ($LHINU) is a cryptocurrency project that ingeniously combines the vote-to-earn model with the allure of meme coins and has achieved remarkable success by raising $2.1 million in its ongoing presale.
As the presale progresses, there are fewer than six days remaining in Stage 3 of 8. Consequently, the token’s price is scheduled to increase from $0.000095 to $0.000105 soon in Stage 4.
This development has prompted potential investors to take swift action to secure their stake in this highly sought-after meme cryptocurrency.
Remarkably, in just two weeks, Love Hate Inu has reached the impressive $2 million milestone.
This achievement has led to comparisons with well-established meme coins such as Dogecoin and Shiba Inu.
Furthermore, some analysts have gone so far as to label $LHINU the “Dogecoin Killer” and consider it a prime investment choice in the meme coin space.
Love Hate Inu’s mission is to bring innovation to the polling and survey sectors by leveraging blockchain technology and the popularity of meme coins.
Impressively, the project has garnered significant attention, amassing 32,000 Twitter followers within weeks of its launch.
The platform is designed to allow users to vote on a wide range of topics in a secure and transparent manner.
Both brands and individual consumers have the capability to initiate polls, and brands have the added advantage of offering incentives in the form of digital and physical rewards to participants.
In addition to these features, Love Hate Inu integrates non-fungible token (NFT) technology, enabling companies to distribute digital vouchers and promotional codes.
As Love Hate Inu’s presale approaches its next price increase, the project offers investors a chance to contribute to the future of polling.
Acquiring the token is possible using ETH, BNB, or USDT, and notably, presale participants are not subject to a lock-up phase.
With its innovative approach to polling, strong community engagement, and promising investment potential, Love Hate Inu is emerging as one of the best cryptos to buy now.
Mask Network (MASK)
Mask Network, a decentralized platform constructed to facilitate secure interactions and social transactions on prevalent social media platforms, has seen a notable increase in the value of its token today.
MASK has experienced a 28.93% jump for the past week as of writing, and the positive sentiment surrounding the project is clear.
With no signs of slowing down, MASK is showing strong bullish momentum based on the technical indicators.
The 20-day EMA, 50-day EMA, and 100-day EMA are all trending upwards, indicating a sustained uptrend in price over different time frames.
The RSI is at an overbought level of 66.89, which may indicate that a short-term pullback is possible.
However, if the uptrend remains intact, the RSI could continue to rise and stay in overbought territory for some time.
The MACD indicator is also reflecting a bullish trend. The MACD histogram is increasing, and the current day MACD histogram of 0.151 is higher than the previous day’s 0.132. This shows that upward momentum is accelerating.
The significant increase in volume from 13.665 million to 16.74 million also suggests that the upward move is strong and supported by real demand.
Mask Network (MASK) reached a new year-to-date (YTD) high today, surging to an intraday peak of $7.20. At the time of writing, MASK is trading at $6.924, up 4.80% so far today.
In the short term, MASK faces immediate resistance at the $7.394 to $7.536 horizontal resistance area.
If this resistance level is breached, MASK could accelerate upwards to challenge the $9 psychological resistance level.
On the downside, the previous resistance area of $6.187 to $6.516 could potentially serve as support.
All in all, the technical indicators are painting a bullish picture for MASK in the near term, although some consolidation or a minor pullback could occur given the overbought signals.
The trend remains bullish as long as MASK stays above the key exponential moving averages and support levels.
Fight Out Secures Millions Before Launch; One of the Best Cryptos to Buy Now
Fight Out is a blockchain-based fitness platform that skillfully merges the principles of fitness gamification with facets of the metaverse.
It has successfully garnered over $5.99 million in funding as it nears the conclusion of its presale, with less than three days left for interested parties to join.
The digital landscape has undergone significant changes in recent years, as numerous real-world activities have migrated to online platforms, resulting in improved efficiency and cost savings.
This trend is observable across various industries, including education, media, entertainment, retail, and healthcare.
The fitness industry has not been left behind in this digital shift, as online fitness applications offer customized workout plans and dietary tracking.
However, traditional fitness facilities and exercise applications often face challenges in retaining users, mainly due to insufficient motivation and engagement.
Fight Out aims to address these challenges by integrating play-to-earn and train-to-earn features into its platform.
By doing so, Fight Out aspires to create an engaging and rewarding fitness experience that keeps users motivated and involved in their fitness journey.
The unique fusion of fitness and cryptocurrency elements has captured the attention of both industries, leading to an explosion of interest in Fight Out’s proprietary digital currency, $FGHT.
During the presale, the token is available at a discounted price. As of now, the presale pricing for one $FGHT token is $0.03330 USDT.
Investors have a limited time frame—less than three days—to take advantage of this promotional price, as it is scheduled to increase to $0.333 USDT on March 31.
On April 5, $FGHT is then set to be listed on multiple cryptocurrency exchanges, including Uniswap, Lbank, XT.com, BitForex, DigiFinex, Transak, and BKEX.
The listing is anticipated to boost liquidity and provide broader access to investors interested in supporting Fight Out’s mission.
Optimism (OP), a leading Layer-2 scaling solution for the Ethereum (ETH) blockchain, has experienced a substantial increase in its price, closing Tuesday’s candle with a gain of 6.04%.
The recent surge in trading activity for OP may be attributed to the announcement by Conduit, a crypto-native infrastructure platform, of its successful $7M seed funding round led by Paradigm and its collaboration with Optimism.
From a technical analysis perspective, the exponential moving averages for OP are closely aligned, indicating steady trend momentum.
The RSI is at a neutral level of 45.48, suggesting that buying and selling pressures are evenly matched.
The MACD histogram is still negative but is converging towards zero, reflecting a slowing bearish momentum.
If the histogram crosses into positive territory, it would signal a bullish trend reversal.
The significant increase in volume to 19.45 million suggests that the recent price surge is supported by real demand.
However, the volume has since declined, and the volume moving average of 32.447 million indicates weakening momentum.
For the uptrend to be sustainable, volume levels should increase to surpass the volume moving average.
OP is currently trading at $2.240 with a gain of 2.19% so far today.
In the near term, OP faces immediate resistance at the Fibonacci 0.618 retracement level of $2.372, which is in confluence with the 20-day and 50-day EMAs at $2.378 and $2.383, respectively.
On the downside, the 100-day EMA at $2.1402 and the Fibonacci 0.5 level at $2.089 could potentially serve as support.
If the price of OP falls below these support zones, it may indicate weakening bullish momentum, which could pull the price down to the next support level of $1.90.
Step Into the Metaverse: Robotera’s Presale Heats Up
The metaverse has garnered worldwide interest for its capacity to reshape human interaction, business, and entertainment.
RobotEra is an emerging metaverse crypto venture that is well-positioned to lead in this field.
RobotEra enables users to create in, trade, and explore in a mesmerizing virtual world, reimagining metaverse engagement.
The project’s token presale is now live, offering gaming enthusiasts a prime opportunity to participate using TARO metaverse crypto.
RobotEra’s metaverse gaming project allows players to build in the virtual world using the TARO token for land purchases, NFT ownership, and economic activities.
Players can create landmarks, display artistic talents, and contribute to an interactive ecosystem.
In RobotEra’s immersive narrative, players take on the roles of robots tasked with reconstructing a war-ravaged planet.
The game offers players the ability to craft unique Robot Companions, represented as tradable and leasable NFTs.
Additionally, land parcels within the game, also tied to NFTs, can be creatively developed and exchanged among players.
To enhance the user experience, RobotEra provides an intuitive editing tool that facilitates asset creation and customization without the need for coding expertise.
RobotEra’s Decentralized Autonomous Organization (DAO) also allows players to participate in governance and make collective decisions, fostering community and ownership.
The RobotEra presale offers a chance to join the metaverse experience, with a minimum purchase of 1,000 TARO tokens at $0.020 each, which can be purchased using either USDT or ETH.
RobotEra’s unique concept, ease of use, and monetization options make it one of the best cryptos to buy now as the metaverse continues to transform digital interactions.
This news is republished from another source. You can check the original article here.
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