Bitcoin is currently trading at $29,038 and is down 3.47% thus far, likely due to market anticipation of the Federal Reserve’s interest rate announcement on July 26.
The cryptocurrency market in general is also experiencing declines. Ether, the second largest cryptocurrency, is down 2.39% and is trading at $1,844.
Other major cryptocurrencies such as Ripple and Binance Coin have also fallen, falling 4.89% and 1.98%, respectively.
In other news, Sam Altman, CEO of OpenAI, today launched a new cryptocurrency called Worldcoin.
Its standout feature is an identity verification system that uses retina scans to combat the problem of synthetic identities generated by AI platforms.
Major cryptocurrency exchange Binance also announced plans to list Worldcoin. However, regulatory issues have so far limited the availability of Worldcoin in the US.
Given the current cryptocurrency market environment, Flex Coin, Evil Pepe Coin, ApeCoin, Burn Kenny, and The Graph may be some of the best cryptocurrencies to buy now, thanks to their strong fundamentals and/or positive technical analysis.
Gearing Up For The Next Leg: Why Flex Coin (FLEX) Is One Of The Best Cryptocurrencies To Buy Now
Following its failed attempt to ride the 0.236 Fib level at $4,862 on July 21, the cryptocurrency traced its way back to the vicinity of the 0.618 Fib level at $3,841.
A subsequent effort to break out of the 0.5 Fibonacci level at $4,156 resulted in an intraday high of $4,193 today.
Despite facing selling pressure that brought it back to the current price of $4,038, the cryptocurrency remains in the green, posting a 1.43% gain for the day.
This trajectory suggests a possible longer consolidation above the 0.618 Fibonacci level before Flex Coin begins its potential climb.
A quick look at the Flex Coin moving averages clarifies the broader trend. With the 20-day EMA at $3,702, the 50-day EMA at $3,117 and the 100-day EMA at $2,509, the hierarchy of these averages indicates a bullish sequence, signaling a potentially favorable longer-term trend.
He Relative Strength Index (RSI) – a momentum oscillator that measures the speed and change of price movements – stands at 59.69, up from 56.04 yesterday.
As it is below the overbought threshold of 70, there may be room for the cryptocurrency to appreciate before reaching a potential overbought condition.
Also, the MACD histogram reads 0.0286, down from yesterday’s 0.0448. This reduction in positive momentum could be a sign of a near-term pause or pullback, aligning with the potential for a period of consolidation indicated by recent price movements.
In light of these indicators, traders should remain vigilant for a possible period of consolidation, as suggested by both the price action and the decline in the MACD histogram.
Immediate support at the 0.618 Fib level at $3,841 provides a reasonable cushion in the event of a pullback, while resistance at the 0.5 Fib level at $4,156 represents the immediate challenge for the bulls.
While Flex Coin technical indicators point to a long-term uptrend, short-term fluctuations and potential consolidation require careful consideration.
Investors are advised to maintain a disciplined approach, keeping the aforementioned support and resistance levels in mind in their strategy.
One of the Best Crypto to Buy Now: Evil Pepe Coin’s Rise to Meme Coin Fame
Expectations are high for the Evil Pepe Coin, the evil counterpart to Pepe, the featured meme coin of 2023.
This sinister newcomer is generating a lot of buzz with its pre-sale, already racking up over $700,000 so far.
Evil Pepe Coin comes to life courtesy of the same team behind Thug Life Token ($THUG) and SpongeBob ($SPONGE), both of which garnered significant attention in the crypto space.
Its rise in popularity is attributed to a strategic promotional campaign executed by a skilled marketing team, involving partnerships with various influencers and established crypto news platforms.
Evil Pepe Coin exhibits an encouraging tokenomic structure. A total of 90% of the token supply is allocated to pre-sale, and the remaining 10% is locked in DEX liquidity for one month.
This structure is designed to ensure a trading environment right after launch on the Ethereum blockchain.
Evil Pepe Coin’s ambitious vision involves collaborating with influential meme creators to achieve a market capitalization of $100 million.
The plan even seeks to outperform its predecessor, Pepe Coin, which currently has a market capitalization of over $500 million. Achieving this feat would translate into significant profits for early investors.
The potential of Evil Pepe Coin as the best cryptocurrency to buy now looks promising.
The team’s expertise, combined with a targeted marketing strategy and favorable tokenomics, can offer a lucrative opportunity for meme coin enthusiasts.
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Apecoin (Ape) Market Cap Falls 3.21%, Trading Volume Increases 117.87%
ApeCoin (APE) continues to struggle to hold its foothold above the 20-day EMA, currently priced at $2,072.
Despite managing to break this mark on July 20 for the first time in 90 days, APE was repelled at the 0.236 Fib resistance level at $2,183.
This rejection instigated a drop, pushing APE below the 20 day EMA once again. Today, APE stands at $2,022, down 3.44%.
ApeCoin’s performance continues to languish below both the 50-day EMA ($2,310) and the 100-day EMA ($2,794), indicating a downtrend.
These indicators could potentially serve as formidable resistance levels for the foreseeable future, adding pressure on APE to maintain bullish momentum.
Added to this bearish outlook is the RSI, which has fallen from yesterday’s 48.55 to today’s 44.13.
This move into oversold territory suggests mounting selling pressure and waning bullish interest.
Adding more weight to this bearish view is the MACD histogram, which declined to 0.027 from 0.034 yesterday.
This change reflects the weakening of the bullish momentum, which indicates that the sellers are gaining control.
An examination of APE’s market capitalization, which fell 3.21% to $746 million, appears to align with the bearish outlook.
It should be noted, however, that the trading volume has increased by a significant 117.87% to $111 million.
This increase in volume accompanying the price decline implies strong bearish conviction and could signal further downside movement for APE.
Despite these indications, all is not lost for ApeCoin. Traders should watch out for the immediate swing low support zone, which ranges between $1,816 and $1,873.
If APE can successfully hold above this level, it could nullify immediate bearish forecasts and potentially give bulls a fighting chance.
However, to make a definitive bullish turn, ApeCoin will have to conquer the 0.236 Fib resistance at $2,183.
A sustained break above this point could invite more buying pressure, potentially pushing APE above its 20 day EMA and potentially changing market sentiment.
While the current scenario is leaning towards the bearish, traders should exercise caution, keeping a close eye on these key technical indicators and levels.
A quick change in any of these could quickly alter ApeCoin’s trajectory in the cryptocurrency market.
Burn Kenny Coin Launches on Uniswap: $500,000 Presale Goal Hit in Less Than 48 Hours
Burn Kenny Coin, the highly anticipated meme cryptocurrency of 2023has made an impressive debut.
The $500,000 presale sold out in less than 48 hours and is now available for purchase on Uniswap at a price of $0.000051 as of this writing.
Burn Kenny Coin’s initial valuation is based on a modest market capitalization of $1.25 million. With a strong marketing plan and increasing social media hype, the market capitalization is anticipated to grow exponentially after launch.
This, coupled with a low initial valuation, presents an attractive opportunity for investors looking for the best cryptocurrency to buy now.
Channeling South Park’s longstanding joke about Kenny’s many deaths, Burn Kenny Coin implements a unique system of high-impact cryptography.
10% of the total supply of $KENNY tokens burned todayreducing the circulating supply by 666,666,666 tokens.
More burns are scheduled over the next two days, with another 10% of the supply to be removed each day.
Given the Burn Kenny Coin’s unique selling proposition and projected demand, speed is of the essence for investors looking to capitalize on this emerging opportunity in the meme coin market.
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The Graph (GRT) recovery potential makes it one of the best cryptos to buy now
After a 10-day consolidation period between the 0.5 Fib level at $0.1160 and the 0.382 Fib level at $0.1226, GRT succumbed to the broader cryptocurrency market sell-off. It has now broken down below the 0.5 Fib level at $0.1160.
Digging deeper into the technical indicators, the 20 and 50 day EMAs lie at $0.1162 and $0.1161 respectively, marginally above the current price of $0.1119. This further signals a bearish bias.
The 100 day EMA at $0.1189 is also holding above the current trading price, suggesting a possible longer-term downtrend.
Looking at the RSI, the value has fallen from 52.20 to 44.98, indicating increasing bearish momentum. This implies that GRT is losing its bullish momentum and sellers are taking over.
The MACD histogram corroborates this sentiment. It has shown a decline from -0.0004 to -0.0007, which suggests an increase in selling pressure.
Looking at the volume and market cap indicators further corroborate this bearish narrative.
Even as market capitalization dropped 5.83% to $1 billion, volume has skyrocketed a significant 124.86% to $46.5 million.
This implies that the selloff is not simply a price move, but is supported by substantial volume, reinforcing bearish momentum.
In terms of price levels, GRT is currently facing immediate resistance at the 0.5 Fib level at $0.1160, which is a critical hurdle for bulls. On the downside, immediate support lies at the 0.618 Fib level at $0.1095.
As technical indicators signal bearish market sentiment, traders may want to exercise caution and consider risk management strategies.
Long-term investors should keep a close eye on these indicators for any signs of trend reversal.
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.
