Despite recent changes to macroeconomic policies, analysts warn that Bitcoin could still plummet to $25,000.
Data shows that the 50-day EMA has been persisting as resistance for the past week with Bitcoin having no significant changes to the upside.
Given these challenges, what are the best cryptos to buy now?
The stability of Bitcoin is somewhat in limbo, despite other financial indicators painting a more positive picture.
The U.S. equity market is on the upswing, and the Federal Reserve may soon conclude its most rigorous monetary tightening in decades.
Yet, Bitcoin’s reaction has been negligible. With this in mind, many predictions lean towards the possibility of the cryptocurrency descending towards or even below the $25,000 mark.
These estimates stem from the belief that Bitcoin’s value needs more time to adjust to the current macroeconomic developments.
Meanwhile, the S&P500 has experienced a string of successes lately, which may lead to a new era of monetary policy that is more favorable to Bitcoin’s long-term prospects.
Some believe that the situation might turn if the U.S. approves a Bitcoin spot price exchange-traded fund. However, as things stand, Bitcoin continues to grapple with resistance over both short and long timeframes.
Looking ahead, the next support levels could potentially be at $28,000, $25,000, and low-$20,000s, all of which may offer better relative opportunities for investors.
Amid this crypto investment environment, Trust Wallet, Wall Street Memes, Rocket Pool, Shibie, Immutable X, and XRP20 stand out as some of the best cryptos to buy now, backed by strong fundamentals and positive technical analysis.
Trust Wallet Token (TWT) Is on the Verge of a Potential Bullish Breakout
Trust Wallet Token (TWT) is vigorously challenging its immediate resistance of the Fib 0.382 level at $0.9660, following a failed attempt to break out on July 24 and 25.
As the 100-day Exponential Moving Average (EMA) converges with TWT’s current price, the crypto token appears well-positioned for a potential breakout within the next few days, following the successful mounting of key 20-day and 50-day EMA levels.
TWT is currently trading at $0.9436 and is experiencing a 4.77% increase so far today.
This upward trend is mirrored by the 20-day and 50-day EMAs, currently at $0.8898 and $0.9040 respectively.
The 100-day EMA, sitting slightly higher at $0.9788, is closing the gap on the token’s current price, offering potential validation for the bullish case.
The Relative Strength Index (RSI), a key indicator of momentum, also supports this bullish view. The RSI, at 62.32, is up from yesterday’s 54.31.
A rising RSI suggests a strengthening bullish trend, highlighting increased buying pressure and potentially leading to a sustainable uptrend.
Notably, the MACD histogram has also advanced from yesterday’s 0.0059 to 0.0075. This further underlines the growing bullish sentiment surrounding TWT.
The figures for market cap and volume support the notion of a growing bullish trend.
The market cap has surged by 5.26% to $394 million, while volume has experienced a remarkable 603.58% surge, reaching $37 million.
Such significant increases in volume and market cap typically signify strong investor interest and can potentially catalyze further price increases.
Despite this array of bullish signals, traders should tread cautiously.
TWT is currently faced with a triple confluence of resistance; the horizontal resistance zone of $0.9654 to $0.9809, the 100-day EMA of $0.9788, and the Fib 0.382 level at $0.9660.
If these are successfully broken, it could trigger an impulsive move towards the next resistance zone of $1.0446 to $1.0610, aligning with the Fib 0.5 level at $1.0445.
Immediate support for TWT is evident at the 50-day EMA at $0.9040, followed by the 20-day EMA at $0.8898.
If prices were to retract, these levels could provide a safety net and act as springboards for further ascents.
While TWT is showing strong signs of an impending bullish breakout, traders should carefully monitor the resistance and support levels.
A breach of the identified resistance could signal a new bullish cycle, while the established supports offer potential fallbacks in the event of a pullback.
Wall Street Memes (WSM) and Its Rising Popularity: What Sets This Meme Coin Apart
Wall Street Memes (WSM) is bringing a fresh perspective to the meme coin market with its use of investing humor in the cryptocurrency market.
As the crypto’s presale phase exceeds $20m and its social media popularity increases, other meme coins can learn from its success.
Currently at Stage 27 of its 30-stage presale, WSM’s impending introduction to major exchanges is on the horizon.
For those seeking an attractive early-bird deal, WSM’s presale phase offers the chance to purchase tokens at a discounted rate of $0.0328 per token.
With expectations that this price will be lower than future CEX listings, investors are taking notice. Further bolstered by a strong social media presence, WSM is a venture with significant potential.
WSM’s strong social media presence and significant potential have further bolstered its appeal.
The hype around the presale has even caught the attention of several crypto influencers, including Satoshi Stacker and Michael Wrubel, who shared their thoughts on the future potential of this meme coin with their audiences of 280,000 and 310,000 subscribers, respectively.
WSM’s developers have laid a strong foundation for the project, with a future roadmap that includes partnerships with influencers, listings on top-tier CEXs, an exclusive member community, and a lofty market cap goal.
They have also tactfully structured their tokenomics for stability post-presale.
With 20% of the total WSM supply dedicated to DEX and CEX liquidity to ensure smooth transactions, and 30% set aside for community rewards like airdrops, Wall Street Memes may have something substantial to offer in the meme coin market.
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RPL’s Technical Indicators Show Bearish Trend Despite Volatile Session
Rocketpool (RPL) displayed significant price volatility in today’s trading session, surging to an intraday high of $37.13, marking a notable 27.52% rise, only to face intensified selling pressure which forced it back down to a current price of $29.32.
This represents only a modest increase of 0.58% so far today.
Given today’s volatile session, what insights can we derive from the technical indicators regarding the future movements of RPL?
The 20-day($31.59), 50-day ($35.61), and 100-day ($38.98) EMAs all indicate bearish momentum for RPL as the cryptocurrency is trading below each of these exponential moving averages.
This suggests that the bearish sentiment is present in the short, medium, and long-term timeframes.
The RSI indicates a reading of 30.67, which is a slight climb from yesterday’s 29.38.
An RSI below 30 typically suggests that a cryptocurrency may be oversold, so RPL is on the brink of this threshold.
If it dips further, traders might anticipate a possible bounce back due to overselling, while a continued ascent might signal a waning of the current selling pressure.
The MACD histogram indicates a figure of 0.06, up from yesterday’s flat 0.00. This suggests a possible start of bullish momentum.
However, traders should observe if the histogram continues to rise and if the MACD line crosses above its signal line for a clearer bullish signal.
RPL’s Volume and Market Cap exhibit a clear signal of heightened trader activity and interest.
The trading volume has surged by 740% today, amounting to $35 million.
The market cap, on the other hand, only increased by 0.61% to $573 million, but the sudden uptick in trading activity may suggest significant price movements in the short term.
Lastly, the immediate Resistance lies at the Fib 0.236 level of $30.75, a critical level for traders to watch. Should RPL break and sustain above this level, it might indicate a potential bullish run.
On the downside, the immediate Support is pegged between the swing low levels of $27.90 to $29. Given today’s trading dynamics, traders should keep an eye on these boundaries.
While Rocketpool (RPL) has had a volatile session, the combination of technical indicators suggests a possible resurgence of bullish momentum in the immediate future.
The sharp volume spike coupled with the near-oversold RSI and positive MACD histogram tilt suggest a potential bullish sentiment.
SHIBIE: This Barbie Has a Shiba Inu Twist
The cryptocurrency market is about to get a lot more interesting with the arrival of SHIBIE.
This coin’s delightful blend of the iconic Barbie and the charming Shiba Inu promises to add a touch of fun and excitement to crypto trading.
Developed by an agile and astute group of meme coin enthusiasts, Shibie introduces a playful fusion of two cultural icons.
Encapsulated in a single token, the Shibie coin seeks to appeal to a vast audience, merging elements of pop culture and digital finance.
Shibie’s presale is now live, giving early supporters the chance to buy tokens at a favorable rate of $0.000167.
The project has set a fundraising goal of $999,999, which it hopes to achieve within the eight-day presale period before moving towards centralized exchange (CEX) listings.
While Shibie is new to the crypto scene, it is leveraging proven strategies from other successful coins.
Citing impressive returns on coins like PEPE and PEPE2.0, Shibie seeks to create a similar hype in the crypto community.
To facilitate seamless trading conditions during the launch, the team has allocated 20% of $SHIBIE tokens towards DEX liquidity and an additional 10% towards centralized exchange (CEX) liquidity.
Marketing also plays a crucial role in Shibie’s strategy. The project has allocated 20% of its supply towards marketing.
The objective is to capitalize on the Barbie wave and raise awareness of the Shibie coin through social media platforms like Twitter and YouTube.
Even while riding on the coattails of the Barbie trend, the Shibie team is also exploring value-added features for its community.
On the tech side, Shibie reveals plans for an AI-powered bot on Telegram.
This feature promises users engaging interactions and insights about Shibie on a familiar messaging platform.
With its playful fusion of pop culture and finance, Shibie has the potential to bring a new level of excitement to the cryptocurrency market.
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Immutable X (IMX) Bullish Momentum Gains Traction
Immutable X (IMX) has been steadily climbing, currently on its sixth consecutive day on the rise, with signs pointing to a potential rally.
It appears to be attempting to break out from the highly contested resistance zone of $0.7888 to $0.8027 – a struggle that has persisted for the past three months.
Technical indicators convey an optimistic outlook for IMX. As of now, the 20-day EMA stands at $0.7421, the 50-day EMA is at $0.7387, and the 100-day EMA is at $0.7695.
A noteworthy development is that the EMAs are gradually aligning into a bullish crossover position, a significant indicator that a potential bullish trend is on the horizon. Adding weight to the bullish narrative is the fact that IMX is breaking out from the 100-day EMA.
This particular movement is of consequence since it is often regarded as a strong bullish signal. Investors often use this movement as a confirmation to consider opening long positions, suggesting that now might be the time to contemplate a bullish stance on IMX.
Further insight can be derived from the RSI, which has leaped from 58.05 to 63.49. As the RSI is a momentum oscillator that measures the speed and change of price movements, this could signify that buying pressure is increasing.
An RSI value above 60 is usually associated with an overbought condition, suggesting that IMX’s price might start consolidating or could even experience a minor pullback before the uptrend continues.
The MAVD histogram has seen an increase from 0.0021 to 0.0046. This is an encouraging sign as a positive MACD histogram typically signifies bullish momentum.
However, investors should tread carefully as IMX is now challenging the formidable horizontal resistance zone of $0.7888 to $0.8027. This zone has been a significant barrier for the past three months.
A successful breakout above this zone, coupled with significant trading volume, could unlock new upward potential for IMX.
IMX has immediate support at the Fib 0.786 level at $0.7790, followed by the 100-day EMA at $0.7695. Should a pullback occur, these levels could serve as a cushion and prevent further price declines.
As always, investors are reminded that while technical analysis provides a framework for informed decision-making, it does not guarantee future performance.
Thus, any investment decision should be made in conjunction with a comprehensive analysis of market conditions and individual risk tolerance.
XRP20: One of the Best Cryptos to Buy Now with its Stake-to-Earn Utility Feature
XRP20 is introducing a stake-to-earn utility feature that is disrupting the cryptocurrency industry.
Taking cues from the success of Ripple’s XRP token, XRP20 is offering early investors an opportunity to earn substantial rewards at a presale price of only $0.000092.
XRP20 seeks to raise a soft cap of $1,850,000 and a hard cap of $3,680,000 in its presale.
The new crypto’s unique selling point is its staking and burn mechanism.
Each buy or sell transaction will see 0.1% of the total burnt, thereby increasing the token’s scarcity value over time.
The token’s supply has been strategically divided: 40% for presale buyers, 40% for staking, and 10% for DEX liquidity.
Unlike XRP, XRP20 makes no provision for founders and team members, indicating a level playing field.
XRP20, which is considered version 2 of the original XRP token, brings on-chain staking to the table, a feature that was not present in the first iteration.
The staking mechanism allows XRP20 holders to earn passive income, a significant shift from XRP’s focus on legacy financial institutions.
XRP20 enjoys the backing of the ‘XRP Army,’ a highly active community in the crypto space that supported XRP during a challenging legal battle with the US Securities and Exchange Commission.
XRP20’s stake-to-earn and burn features are just two of the many ways it is disrupting the crypto industry.
With a successful presale, XRP20 could establish itself as a major player in the market, offering investors a new way to earn passive income and grow their portfolios.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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