{"id":89427,"date":"2024-01-26T18:59:12","date_gmt":"2024-01-26T23:59:12","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=89427"},"modified":"2024-01-26T18:59:14","modified_gmt":"2024-01-26T23:59:14","slug":"best-crypto-to-buy-now-january-26-chiliz-conflux-optimism","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89427","title":{"rendered":"Best Crypto to Buy Now January 26 \u2013 Chiliz, Conflux, Optimism"},"content":{"rendered":"
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Bullish momentum returns to the cryptocurrency market as prices start pushing upward. What is the best crypto to buy now? Image by cryptonews.com. <\/em><\/figcaption>

The cryptocurrency market has shown promising signs of strength today, with Bitcoin<\/strong> climbing 5% to trade around $42,000<\/strong>. This upward momentum has provided further tailwinds for altcoins like Chiliz (CHZ)<\/strong>, which has surged 25% over the past month. With major partnerships and developments in the pipeline, Chiliz has risen as a top contender for the best crypto to buy now<\/strong> for investors looking to capitalize on the renewed optimism and buy the dip.<\/p>\n

Conflux Network (CFX)<\/strong> has also made strides by unveiling an EVM-compatible Bitcoin Layer 2 solution<\/strong>, sparking a 30% price uptick for the past week. Additionally, Optimism\u2019s OP token<\/strong> has also shown resilience despite the bearish market trends for the past few weeks.<\/p>\n

Beyond established cryptos, up-and-coming crypto projects like Bitcoin Minetrix<\/strong> and Meme Kombat<\/strong> have been gaining traction in their presale phases. Their developments have intrigued many looking for early investment opportunities in the space.<\/p>\n

With cryptocurrencies like CHZ, CFX, and OP making moves alongside fresh players, the cryptocurrency market continues to progress. Staying informed on these trends can help identify the best crypto to buy now.<\/p>\n

Best Crypto to Buy Now in the News<\/strong><\/h2>\n

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Chiliz has made headlines with its aggressive expansion strategy and innovative developments on its blockchain platform. The CHZ token\u2019s 18% weekly price gain, which marks a 7-month peak, is a response to a dynamic approach that includes a revamp of its tokenomics. The proposed changes involve a burn system<\/strong>, staking rewards, and the inclusion of external consultants to refine the economic model.<\/p>\n

Additionally, the integration with the Rarible Protocol<\/strong> is set to elevate the NFT marketplace on the Chiliz Chain. This integration will likely enhance digital collectibles and user engagement, contributing to the token\u2019s growing appeal.<\/p>\n

The transition to a full-fledged Web3 blockchain for sports and entertainment underpins Chiliz\u2019s evolution and underscores its strong market performance, even in the face of current market challenges.<\/p>\n

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Big news! Introducing the new frontier of Conflux: a fully EVM-compatible space powered by BTC!https:\/\/t.co\/Un8WzaTjh9<\/p>\n

\ud83d\ude80 Conflux is launching an EVM-compatible Bitcoin Layer 2.
\ud83d\udcb0 BTC will be the native currency for gas fee calculations.
\ud83c\udf09 Bridge diverse asset types from the\u2026<\/p>\n

\u2014 Conflux Network Official (@Conflux_Network) January 18, 2024<\/a><\/p>\n<\/blockquote>\n

Conflux Network\u2019s CFX token experienced a 30% price increase following the January 18 announcement of an EVM-compatible Bitcoin Layer 2 solution. This approach combines Bitcoin\u2019s store-of-value feature<\/strong> with Conflux\u2019s Proof-of-Stake protocol<\/strong>, supporting Ethereum-based contracts<\/strong>. The mainnet launch is scheduled for May 2024, with a preceding testnet expected by the end of March.<\/p>\n

Optimism\u2019s OP token saw a major 39.05% retracement from January 12 to January 23, declining after setting its year-to-date high<\/strong>. However, the past three days have shown signs of recovery, with the price up 18.58% from its recent low.<\/p>\n

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Despite suffering a price decrease of nearly 20% in the last 7 days, over 80% of $OP<\/a> holders remain in profit.
\ud83d\udd17https:\/\/t.co\/lmTUjhZFx4 pic.twitter.com\/3hlFNbG95b<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) January 24, 2024<\/a><\/p>\n<\/blockquote>\n

With over 89% of holders remaining profitable despite the major retracement, Optimism retains substantial market depth, according to data from IntoTheBlock.<\/p>\n

While challenges persist in current conditions, OP\u2019s ability to rebound off its recent low highlights its resilience. As the price looks to overcome immediate resistance, Optimism warrants consideration as investors seek crypto with recovery potential<\/strong> after steep sell-offs.<\/p>\n

For investors focused on new cryptocurrencies<\/strong>, projects like Bitcoin Minetrix and Meme Kombat have been gaining traction in their presale phases. Their developments have intrigued many looking for the best crypto to buy now and other early investment opportunities in the perpetually shifting crypto industry.<\/p>\n

CHZ Bulls Gain Momentum: Sets New 7-Month High<\/strong><\/h2>\n

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Source: TradingView \/ CHZUSDT<\/em><\/figcaption><\/figure>\n<\/p>\n

The CHZ price<\/strong> has shown bullish momentum in recent days, bouncing back from consolidation to post gains. After ranging sideways for a week and forming an ascending triangle pattern, the CHZ price broke out to the upside yesterday with a 10.97% surge. CHZ built on this momentum today, setting a new 7-month high of $0.11637 earlier in the session.<\/p>\n

However, it appears selling pressure is substantial around immediate resistance levels. The CHZ price has pulled back from its intraday peak and is currently trading at $0.11001, although still up 2.13% so far today.<\/p>\n

The 20-day EMA for the CHZ price stands at $0.09473 while the 50-day EMA is at $0.08817. With the short-term EMA above the long-term EMA, this signals a bullish trend in motion. The widening gap between the EMAs shows buying momentum is accelerating for CHZ.<\/p>\n

The RSI has climbed to 62.75 from yesterday\u2019s 61.55. This shows growing strength behind the uptrend as the CHZ price leaves oversold territory. The MACD histogram has also increased to 0.00170 from 0.00140, reflecting building bullish momentum.<\/p>\n

The CHZ price currently faces immediate resistance between $0.10836 and $0.11186. CHZ initially surged above this zone to its new 7-month high but heavy selling pressure has since forced the price back below resistance.<\/p>\n

On the downside, initial support lies between $0.10456 and $0.10582. Below this, the CHZ price has further horizontal support from $0.10195 to $0.10341. This zone aligns with the Fib 0.236 level at $0.10193, making it a critical support area to watch.<\/p>\n

With technicals signaling growing upward momentum but the CHZ price struggling to overcome resistance, the coin appears positioned for a breakout. A sustained move above $0.112 could see CHZ extend towards its next resistance around $0.125.<\/p>\n

Alternatively, rejection here risks a pullback towards the key support zone around $0.102. Traders may look to enter on a confirmed break above or below these levels.<\/p>\n

CFX Price Breakout: Positive Signals Point to Upside Potential<\/strong><\/h2>\n

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Source: TradingView \/ CFXUSDT<\/em><\/figcaption><\/figure>\n<\/p>\n

The CFX price<\/strong> has shown promising signs of upward momentum in recent trading after consolidating between $0.1624 and $0.2361 for almost two months. With today\u2019s 18.83% gain so far, the CFX price looks set to challenge crucial resistance levels that could determine its next major move.<\/p>\n

Technical indicators paint an increasingly bullish picture for the CFX price after crossing into overbought territory. The RSI has surged to 63.27, up sharply from yesterday\u2019s 50.27 reading. This shows growing positive momentum. Meanwhile, the MACD histogram has turned positive at 0.0016, crossing above the prior day\u2019s -0.0010 reading. This crossover often precedes further upside.<\/p>\n

As the CFX price pushes further past the $0.22 level, it faces immediate upside barriers. This includes the Fib 0.382 and 0.236 levels of $0.1968 and $0.2095, along with the current swing high resistance between $0.2218 and $0.2301 where the price is trading around currently. Clearing these levels could pave the way for an impulsive move up to the next resistance at $0.2407 to $0.2484.<\/p>\n

On the downside, initial support lies at the 20-day EMA of $0.1906 and the 50-day EMA of $0.1853. However, with today\u2019s bullish price action, the Fib 0.382 and 0.236 levels of $0.1968 and $0.2095 could turn into new support zones.<\/p>\n

With the CFX price breaking out of its trading range, bulls seem to be regaining control. Sustained trading above $0.22 resistance would confirm the uptrend and open the door for a retest of $0.24. Cautious traders may wait for a pullback to the $0.20 area to get on board.<\/p>\n

Op Price Prediction: Steady Recovery After Major Retracement<\/h2>\n

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Source: TradingView \/ OPUSDT<\/em><\/figcaption><\/figure>\n<\/p>\n

The OP price<\/strong> appears to be gaining positive momentum after finding support around the key Fib 0.618 level of $2.889. This comes after a steep 39.05% retracement between January 12 and January 23. With three consecutive days of gains so far, the OP price looks to take on nearby resistance to continue the recovery.<\/p>\n

Looking at technical indicators, the OP price has room for further upside. The RSI has climbed to 45.11 from yesterday\u2019s 41.99 reading, showing growing bullish momentum. Meanwhile, the MACD histogram has become less negative at -0.089, up from -0.109 the previous day.<\/p>\n

As the OP price pushes further above $3, it faces immediate resistance at the 50-day EMA of $3.029 followed by the horizontal resistance zone of $3.094 to $3.170 which is also in confluence with the Fib 0.5 level of $3.136. Clearing these levels could open the door for a move toward the 20-day EMA of $3.217.<\/p>\n

On the downside, initial support lies at the horizontal zone between $2.793 and $2.887 which aligns with the Fib 0.618 level of $2.889. This area has held up well on recent declines.<\/p>\n

With the OP price breaking its short-term downtrend, bullish momentum seems to be building. Sustained trading above the $3.136 resistance would confirm the emerging uptrend. Conservative traders may prefer to wait for a pullback towards $2.889 support before entering new bullish positions.<\/p>\n

Major cryptocurrencies aren\u2019t the only ones making moves \u2013 fresh crypto players<\/strong> are also vying for attention. Bitcoin Minetrix and Meme Kombat have used tactics like giveaways and gameplay to drive presale interest as their public launches approach.<\/p>\n

The Best Crypto to Buy Now: Exploring Promising Bitcoin Alternatives<\/strong><\/h2>\n

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With Bitcoin\u2019s dominance as the pioneering cryptocurrency, it\u2019s easy to focus solely on it when exploring the cryptocurrency domain. However, limiting your crypto portfolio to Bitcoin alone means missing out on the huge potential of up-and-coming Bitcoin alternatives<\/strong> looking to make their mark.<\/p>\n

Getting in early on presale events for new cryptocurrencies gives investors the chance to buy tokens at reduced prices before they become publicly available. Bitcoin alternatives like Bitcoin Minetrix and Meme Kombat have seen considerable presale interest from investors attracted to the prospects of major returns if these projects gain momentum post-launch.<\/p>\n