The U.S. House Financial Services Committee will hold a hearing on June 13 on the topic of cryptocurrencies, potentially giving more clarity to the markets.
The committee oversees matters like the Federal Reserve Board, the US Treasury, and currency.
How might this affect the cryptocurrency market and the selection of the best cryptos to buy now?
The hearing will stream live on the committee’s website. Though the agenda isn’t public yet, the crypto community hopes it will address major industry issues.
The crypto industry has been grappling with several urgent concerns, including regulatory compliance, investor protection, market stability, and fostering innovation.
Interestingly, Republican lawmakers Patrick McHenry and Glenn Thompson proposed legislation to regulate crypto assets and exchanges.
It suggests incorporating crypto into traditional trading and splitting oversight between the SEC and CFTC and seeks to solve regulatory problems and guide the crypto industry.
Recent SEC lawsuits against Coinbase and Binance highlighted the need for such clarity as the lack of rules distinguishing securities and commodities related to cryptocurrencies remains confusing for traders and businesses in the space.
Senator Cynthia Lummis criticized the SEC’s use of enforcement for guidance, saying it hurts investors and innovation. The SEC’s failure to provide guidance caused uncertainty and hindered crypto, she said.
It’s hoped that the hearing and legislation could significantly stabilize markets and regulate cryptocurrencies for the better, allowing the dynamic industry to continue advancing.
While the industry awaits further guidance, WSM, OP, ECOTERRA, APE, YPRED, LDO, and SWDTKN are some of the best cryptos to buy now based on solid fundamentals and/or favorable technical analysis.
Wall Street Memes: Empowering the Underdog in the Cryptocurrency Space
Wall Street Memes ($WSM) has quickly established itself as a major player in the cryptocurrency market by raising almost $5 million in less than two weeks.
This feat can be attributed to the fear of missing out (FOMO) that has gripped the crypto space, as investors seek the next big meme coin after the likes of Dogecoin, Shiba Inu, and Pepecoin.
With a social community of over a million followers on platforms like Instagram and Twitter, Wall Street Memes has gained significant traction in a short period.
The team behind Wall Street Memes has a proven track record of building engaged communities, as evidenced by their previous experience in the meme stock craze during the peak of the COVID pandemic.
As a result, astute investors have identified Wall Street Memes as one of the best cryptos to buy now exponential growth.
Major cryptocurrency exchange listing for Wall Street Memes ($WSM) is expected to bring substantial gains, with analysts predicting an upswing in price.
The presale milestones are being met with remarkable speed, leading to a potentially earlier-than-expected price increase.
Seeking to become the ‘King of Memes’, Wall Street Memes plans to utilize its large following to attract notice from top exchanges such as Binance.
Before listing on larger centralized exchanges, however, the token will first be made available on decentralized exchanges to ensure accessibility for all.
The founders of Wall Street Memes gained notoriety in 2021 after minting the highly successful Wall Street Bulls’ 10,000-piece NFT collection, which sold out in just 32 minutes.
The WSM team has even caught the attention of billionaire Elon Musk, who has interacted with their Twitter feed.
Focused on empowering the underdog, Wall Street Memes seeks to champion the small investor against the giants.
Wall Street Memes allocates 100% of its token to community betterment, with no private sales or unfair team allocations. The total token supply is set at 2 billion (2,000,000,000).
As Wall Street Memes forges ahead to democratize finance, it is clear that this is a movement that one should not ignore.
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Optimism (OP)
Despite Optimism’s recent downturn, technical indicators suggest a bullish divergence that could signal the coin’s upward trajectory in the near future.
Yesterday, Optimism saw a 7.86% increase, retesting the 20-day EMA during a bullish cryptocurrency market.
However, the cryptocurrency is hovering near its horizontal support area of $1.345 to $1.382 today amidst a dip in the crypto market.
Despite the precarious position, there is a potential beacon of hope for traders on the horizon. A bullish double-bottom divergence may be forming, indicating a potential upcoming trend reversal.
The 20-day EMA stands at $1.537, with the 50-day EMA at $1.759 and the 100-day EMA at $1.911. The current price is $1.386, representing a 7.22% decrease from yesterday.
Considering the current price of Optimism (OP) at $1.386 and the 20-day EMA at $1.537, the cryptocurrency is currently trading below its short-term EMA.
This scenario is typically seen as bearish as it signifies a potential continuation of the recent downward trend.
Further reinforcement of this bearish signal comes from the 50-day EMA at $1.759 and the 100-day EMA at $1.911, both considerably above the current trading price.
Traders often interpret the price being below these longer-term EMAs as an indication that the medium- to long-term momentum is also favoring bears.
The RSI has decreased from yesterday’s 42.14 to today’s 36.73. While Optimism is not yet considered oversold, the lowered RSI is a call to keep a vigilant eye on the market.
The MACD histogram decreased marginally from yesterday’s 0.010 to today’s 0.008. While this could be viewed as a bearish signal, the divergence between MACD and the price action may validate the formation of a bullish divergence, indicating that the price may soon start to trend upwards.
According to CoinMarketcap, today’s volume is down 26.04% to $186M, suggesting that the downturn isn’t supported by high volume.
This may indicate that the bearish momentum lacks strength, creating a potential setup for a bullish reversal.
On the resistance front, Optimism needs to overcome the hurdles of the 20-day EMA, followed by the horizontal resistance area of $1.648 to $1.700 in its bullish journey.
While today’s market dip may appear alarming, technical indicators are painting a potentially brighter picture.
If the immediate support area holds and the bullish divergence comes to fruition, traders could be looking at a profitable upward trend in the near future.
However, if the immediate support fails, traders should brace for the next support area between $1.146 to $1.197 – a potential 14% to 18% drop from current levels.
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ecoterra: Pioneering Green Initiatives and Profits as One of the Best Cryptos to Buy Now
ecoterra, a web3 platform that promotes environmental sustainability, has raised over $4.85 million so far through the presale of its $ECOTERRA token.
The platform will offer a Recycle-to-Earn system, a carbon offset market, and a recycled materials market, all focused on promoting eco-friendliness.
The presale campaign saw a significant uptick in momentum after major beverage companies such as Coca-Cola, Carlsberg, and Evian were integrated into its database.
Through the use of Reverse Vending Machines, users have the opportunity to recycle bottles from these brands and earn cryptocurrency rewards.
The $ECOTERRA token, which is based on the Ethereum blockchain, powers ecoterra’s web3 ecosystem.
Currently in stage 8, the sale presents an opportunity for potential buyers to acquire tokens at $0.00925 before the price rises to $0.01 once funding reaches $5.7 million.
ecoterra’s R2E app is available in countries with Reverse Vending Machines, providing access to a large market.
The carbon offset market is set to simplify the process of offsetting carbon footprints for individuals and businesses, while the recycled materials market will allow companies to buy recycled goods using $ECOTERRA or other cryptocurrencies.
ecoterra’s blockchain-based platform provides transparency, allowing users to track eco-friendly activities through an Impact Trackable Profile.
This feature appeals to environmentally conscious businesses seeking to improve their brand image and customer loyalty.
ecoterra plans to introduce a staking protocol that will allow $ECOTERRA holders to generate passive income from their tokens.
As green web3 projects become increasingly important in the fight against climate change, experts predict strong growth for the $ECOTERRA token.
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ApeCoin (APE)
ApeCoin (APE) investors experienced a harsh reality after yesterday’s 10% price surge was followed by a 7.46% drop so far today.
Despite the brief rally, the downtrend for APE appears to be persistent, raising concerns about the coin’s potential to reach a new all-time low.
Trading beneath the 20-day EMA at $2.889, APE was rejected at the $3.203 level. This exemplifies a bearish trend, as it indicates that the short-term average price is lower than the long-term average.
The 50-day EMA at $3.494 and 100-day EMA at $3.844 further underline the strength of this downward momentum.
The RSI continues to lean towards oversold territory, declining from yesterday’s 43.67 to today’s 37.59. This suggests that bearish sentiment is increasing among traders.
Traditionally, an RSI below 30 is considered oversold, signaling a potential reversal could be on the horizon.
However, in this context, the consistent downtrend suggests a continuation of the bearish sentiment.
The MACD histogram has also moved into the negative territory, registering a value of -0.10 from yesterday’s neutral 0.0000.
This denotes an increasing bearish momentum and suggests that selling pressure continues to mount, thus presenting a discouraging picture for potential buyers.
A significant decline in trading volume, down by 43.39% to $95M in the past 24 hours, and a market cap that has shrunk by 9.15% to $1B, further illustrate the dampening enthusiasm for APE among investors.
At present, APE is confronted with resistance at the 20-day EMA, followed by the Fib 0.236 level at $3.26.
Overcoming these barriers would be key for any potential rebound, but given the bearish indicators, such an outcome seems increasingly unlikely in the immediate future.
Support-wise, APE is currently trading just above the horizontal support level of $2.798 to $2.876.
If this fails to hold, APE may potentially retest its all-time low of $2.618, followed by the extended Fib -0.236 level at $2.336.
Investors should tread carefully in this territory, as a breach of this level could see APE enter price discovery to the downside, setting new historic lows.
The technical indicators paint a bleak picture for APE in the immediate future. The bearish sentiment surrounding the coin seems likely to persist, and it appears the coin may soon find itself testing new lows.
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yPredict Expands Product Lineup, Empowering Industries with AI-Driven Tools
yPredict has raised over $2.17 million through the presale of its native $YPRED token, providing important resources for its early development.
The platform will use a state-of-the-art AI-powered crypto price prediction system to provide valuable insights to cryptocurrency traders.
The presale momentum is expected to increase as yPredict introduces a range of new AI-powered tools that extend beyond crypto analytics.
The company recently unveiled an affordable, self-hosted content solution tailored for medium to large content teams.
The new content solution from yPredict allows teams to enhance their content creation and increase efficiency.
It includes a system for managing users and assigning tasks, as well as an AI-driven content editor and scoring system to assist in the content creation process.
Raj Sharma, CEO of yPredict.ai, expressed excitement about the expanded product lineup, which caters to a wider range of industries.
The project’s presale is currently in stage 6, with $YPRED tokens priced at $0.09 each. The presale hard cap is set at $6.5 million, which might be achieved within a few weeks if the current pace continues.
yPredict is developing a cutting-edge crypto research and trading platform that grants traders and investors access to numerous AI-powered signals, breakouts, pattern recognition, and social/news sentiment features.
The yPredict platform is developed by a team of highly skilled AI developers and quantitative analysts, placing it among the top 1% in the field.
Through the ypredict.ai marketplace, experts can monetize their expertise by providing model predictions and data research for traders and investors to subscribe to, generating passive income for the experts.
The Analytics, Repository, and Marketplace platform from yPredict is set to launch by the end of 2023, according to the project’s whitepaper. Interested users can join the waitlist to access the platform’s beta version.
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Lido DAO (LDO)
Lido DAO (LDO) is currently positioned at an intriguing stage in the cryptocurrency market.
After an impressive 8.92% gain and a subsequent breakout from the Fib 0.236 level at $2.331 yesterday, it is currently engaged in a retest of this level as a potential area of support.
This stage of consolidation is a common occurrence after a strong upward trend and typically indicates a breather before a further ascent.
The price action witnessed over the last ten days denotes an overall bullish sentiment, with the expectation of continued consolidation above this Fib 0.236 level.
The 20-day EMA at $2.180, the 50-day EMA at $2.155, and the 100-day EMA at $2.168 all underscore the recent bullish trajectory.
With LDO’s price currently trading above these EMAs, this solidifies its bullish stance.
The RSI has lowered slightly from 63.22 to 59.79. However, it remains above the mid-line of 50, indicating that the asset’s overall trend remains bullish.
The marginal decline in the RSI could be attributed to the current price retracement, a healthy sign of consolidation after a strong rally.
The MACD is registering a slight decrease from 0.030 to 0.029. Although this reduction is minimal, it’s an indication of a minor slowdown in bullish momentum.
The current price of LDO stands at $2.351, marking a decrease of 2.29% so far today. Given the bullish momentum reflected in the EMAs and the overall trend, it may be seen as a healthy pullback before a possible next leg upwards.
In terms of potential resistance and support levels, the immediate resistance to watch is the current swing high of $2.564. If this level is surpassed, the next area of resistance lies between $2.598 to $2.671.
Conversely, should the price face downward pressure, the immediate support to keep an eye on is the Fib 0.236 level at $2.331, which is currently being tested.
The current technical outlook for Lido DAO (LDO) remains largely bullish. The retracement to the Fib 0.236 level should be observed closely for signs of a bounce, which could provide an opportunity for traders to enter a long position.
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Swords of Blood: One of the Best Cryptos to Buy Now for Play-to-Earn Gaming
With blockchain technology fueling the growth of the cryptocurrency gaming industry, competition is fierce.
Swords of Blood, however, has managed to distinguish itself by offering a Play-to-Earn role-playing experience that is both distinctive and engaging, catching the eye of the gaming community.
Available on iOS and Google Play, Swords of Blood has over 4 million downloads and has raised over $6 million in in-app purchases.
The game delivers over 250 hours of campaign gameplay, as well as a 16-player multiplayer PvP mode, all powered by Polygon blockchain technology.
Swords of Blood stands out from other games in the cryptocurrency gaming industry, thanks to its impressive combat mechanics, stunning visuals, and captivating gameplay set in Ezura.
Players can assume a variety of roles and embark on quests to acquire valuable loot and customize their characters, and strategies.
The game also includes a competitive PvP mode for players looking to test their skills against others.
Swords of Blood is available for free on both PC and mobile platforms, with cross-play functionality allowing players to interact regardless of their chosen platform.
The game’s Presale 3 for its ecosystem token, SWDTKN, is ongoing, with a token price of $0.012 and a listing price of $0.015. Interested investors can purchase it using USDT, USDC, ETH, or DAI.
Swords of Blood’s breathtaking environment, dynamic gameplay, and enthralling storyline combine to create a gaming experience that is truly exceptional in the Play-to-Earn crypto market.
Swords of Blood’s unwavering commitment to sustaining player interest through ongoing support and content updates solidifies its position as a standout title in the cryptocurrency gaming industry.
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