After reaching a 13-month high of $31,800 on Thursday, Bitcoin has pulled back in recent days and is now facing resistance around $30,000.
The leading cryptocurrency by market capitalization is currently trading at $29,551, down 2% so far today.
The broader cryptocurrency market capitalization has also fallen 0.85% to $1.16 trillion. After hitting an intraday low of $1.151 trillion, the market is currently rallying slightly above the 20-day EMA of $1.155 trillion.
This market instability has caused mixed opinions among investors. Some anticipate further volatility, while others see it as an opportunity to capitalize on potential gains.
Amid this market uncertainty, Flex Coin, Evil Pepe Coin, Chainlink, BTC20 and Sui are some of the best cryptocurrencies to buy now due to its strong fundamentals and/or favorable technical analysis.
Flex Coin (FLEX): One of the Best Cryptocurrencies to Buy Now Amid a Bull Surge
Flex Coin (FLEX) has continued to illustrate bullish sentiment, posting a sizeable 27.44% gain thus far in today’s trading session.
Flex is currently outperforming the broader cryptocurrency market, moving away from its previous consolidation phase.
This increased activity is a result of FLEX bouncing from the 0.5 Fibonacci level to $2,544 and the 50 day EMA on July 7.
The price is currently trading above its 20, 50 and 100 day EMAs at $4,258, a bullish indicator reinforcing the current uptrend.
The 20 day EMA sits at $3,275, above the 50 day EMA at $2,669 and much higher than the 100 day EMA at $2,015.
This ‘bullish alignment’ of the moving averages signals a firm uptrend and suggests that the bulls are in control.
Another key point to watch is the strengthening momentum reflected by the RSI, which currently stands at 65.41, up from 55.20 yesterday.
This indicates that buying pressure is constantly increasing, a sign that market participants are accumulating more and more FLEX.
The MACD histogram also offers an optimistic forecast. An increase from -0.107 to -0.039 yesterday indicates that bullish momentum is building, especially with the MACD on the cusp of a bullish crossover.
If this crossover materializes, it could further solidify the bullish stance and bring more buyers into the market.
However, traders should be aware of potential resistance and support levels. On the upside, the coin is facing the current high resistance ranging from $4,333 to $4,513.
If FLEX manages to clear this hurdle, it could open the door for a further bullish advance.
On the other hand, immediate support is found at the 0.236 Fib level at $3,588. This could serve as a crucial safety net, stopping any potential decline and maintaining bullish momentum.
Traders are advised to watch for a possible bullish crossover confirmation from the MACD, which could provide a promising buying opportunity.
Evil Pepe Coin (EVILPEPE) Presale Valuation Indicates Potential For Significant Gains
From the creators of Thug Life Token ($THUG) and SpongeBob ($SPONGE) comes $EVILPEPE.
Past success stories demonstrate a formidable track record, with $THUG’s pre-sale price tripling after its launch on decentralized exchanges (DEX)and $SPONGE posting a remarkable rally of almost 100x.
Connecting the dots, a comparable trajectory for $EVILPEPE is highly plausible.
The key to success, you ask? The answer lies in expert marketing strategies, partnerships with influencers, and collaborations with respected crypto news websites.
This ensures high visibility on social media and cryptocurrency news platforms.
True to its roots in the Pepe meme coin family, Evil Pepe Coin capitalizes on the notoriety of the best performing meme coin genres of 2023.
Pepe’s journey 2.0 offers an inspiring example. Launched on DEX at a seemingly insignificant price, $PEPE2.0 skyrocketed to a market capitalization of over $75 million, enriching its early investors.
Looking ahead, the pre-sale valuation of just over $2 million for the Evil Pepe Coin indicates the potential for significant gains, especially for those willing to invest a substantial sum.
Recognizing their commitment to a community-oriented approach, the pre-sale makes 90% of the total token supply available.
Additionally, the remaining 10% will be temporarily secured as DEX liquidity for one month, helping to ensure seamless trading when the token is officially introduced to the Ethereum blockchain.
With the shared ambition of reaching a market capitalization of $100 million, the Evil Pepe Coin team aspires to collaborate with influential meme creators and form alliances within the coin universe meme.
While there is no such thing as a crystal ball in the cryptocurrency market, the current narrative suggests that pre-sale participants could benefit significantly from the launch of Evil Pepe Coin.
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Chainlink (LINK) Revisits Key Support Level
Chainlink (LINK) is charting an interesting course as it retests the 0.5 Fibonacci level at $6,784, a crucial confluence with the horizontal support zone of $6,752 to $6,874.
After bouncing off the 20-day EMA up 8.76% on Monday, LINK finds itself in a precarious position, trading at $6,956, down 3.20% year to date today.
Traders watch the charts, looking for signs of potential reversals or breakouts.
LINK’s 20-day EMA currently sits at $6,510. Since the LINK price is currently above this line, it suggests that the short-term trend remains up.
However, today’s slight move lower indicates that LINK may be experiencing some selling pressure.
The 50 day EMA ($6,328) and the 100 day EMA ($6,439) are trailing the 20 day EMA, which suggests that the medium to longer-term trend is also in favor of the bullish.
However, if the price breaks below the 20-day EMA, these levels could serve as potential support zones.
The RSI is at 60.20, down from yesterday’s 65.49. This shows that while the buyers dominated the market, momentum is slowing.
A further drop in the RSI could signal weakening bullish momentum, and traders should watch this level.
The MACD histogram is at 0.064, a slight decrease from 0.072 yesterday. This could potentially be a sign of a short-term decline in bullish momentum. However, as long as it remains above zero, the overall trend remains bullish.
An immediate resistance level to watch is the 0.618 Fib level at $7,260, a level that has proven difficult to break as LINK experienced some rejection on July 14, yesterday, and earlier today when it hit an intraday high of $7.30. A break above this point could trigger a significant move higher.
Despite the slight move lower, the overall trend for LINK remains bullish, as evidenced by its position above the EMAs and the positive MACD histogram.
However, the decreasing histogram of RSI and MACD suggests that the bullish momentum may be weakening.
Traders should watch the 0.5 Fib level at $6,784 and the horizontal support level of $6,752 to $6,874.
A break below these levels could signal a trend reversal, while holding these levels could set the stage for the next move higher.
BTC20: why it is one of the best cryptocurrencies to buy now and profit in the long term
Embracing the past while looking to the future, BTC20 is a cryptocurrency that offers investment possibilities reminiscent of the early days of Bitcoin.
The next crypto token, $BTC20, is priced at $1.00, paralleling Bitcoin’s 2011 valuation, providing a enticing invitation for those looking for the next best crypto to buy.
BTC20 differs from the original Bitcoin and other replicas by adopting Ethereum Proof-of-Stake (PoS) Consensus Mechanismopposite to Bitcoin Power Intensive Proof of Work (PoW).
This strategic decision will allow BTC20 to significantly reduce energy consumption, aligning the token with the current emphasis on sustainability in the crypto sphere.
BTC20 will set itself apart from other Bitcoin clones by offering staking returns, setting it apart in a crypto market flooded with countless imitations. This unique feature will enhance your attractiveness to potential investors.
The impact of the impending Bitcoin halving event on BTC20 cannot be overlooked. Historically, Bitcoin’s halving, where miner rewards are halved every four years, has led to an increase in its value.
Given BTC20’s association with Bitcoin, there is a chance it could benefit from this early super cycle.
As an ERC-20 token based on the Ethereum blockchain, BTC20 will offer greater flexibility and ease of use than Bitcoin.
Additionally, the token will allow stakeholders to secure their funds in a verified smart contract, providing an opportunity to earn passive income while ensuring security.
The limited supply of BTC20 creates a sense of urgency, further solidifying it as a potential candidate for those looking for promising crypto investments.
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SUI Breaks the Resistance: A Promising Upward Trajectory
SUI is exhibiting strong bullish momentum, as evidenced by recent trading performance and a number of technical indicators.
After a solid 7% move higher in yesterday’s trading, it broke above the 20-day EMA and the 0.5 Fib level at $0.7014.
SUI has continued its vigorous upward trajectory, currently trading at $0.7537, up 4.72% year to date.
The 20-day EMA was broken through with a current value of $0.6963. The breach of this EMA underscores the uptrend, indicating that near-term momentum is on the side of the bulls.
The next significant resistance is the 50 day EMA, currently at $0.7885, which will be a crucial level to watch over the next few days.
The RSI has risen to 58.42 from 52.71 yesterday, a sign that the cryptocurrency is gaining strength.
An RSI above 50 generally suggests momentum is with the bulls, providing further evidence of a possible continued upward move.
The MACD histogram has also seen a rise, moving to 0.0147 from 0.0112 yesterday.
This positive change in the MACD histogram suggests that the bullish momentum is likely to continue.
SUI’s market capitalization rose 10.16% to $494,376,454, while trading volume also saw a significant increase of 189.13% to $479,797,765.
This increase in volume and market capitalization demonstrates strong investor interest, which could further fuel the bullish momentum.
In terms of support and resistance levels, immediate support is seen at the 0.382 Fib level at $0.7463. This could serve as a price floor in the event of short-term pullbacks.
On the upside, traders should keep an eye on the 50 day EMA at $0.7885 followed by the 0.236 Fib level at $0.8018, which could act as potential resistance levels.
Based on current technical analysis, SUI’s bullish momentum is likely to persist for the foreseeable future.
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 your capital.
