Bitcoin is currently up about 3% in the past 24 hours, thanks in part to the BlackRock commitment to creating a Bitcoin exchange-traded fund (ETF). This has also led to a price increase in Ether and other leading non-stablecoin cryptocurrencies. With the cryptocurrency market displaying positive trading activity today, what are the best cryptos to buy now?
Bitcoin is currently experiencing a significant rally, with an increase to $26,331 as per data. The market capitalization of the largest cryptocurrency is has also grown by 3.54% to reach $512 billion as of writing. BlackRock’s announcement to launch the first publicly traded Bitcoin exchange-traded fund (ETF) in the U.S. has been a significant driver behind the price increase. The world’s largest asset manager has entrusted Coinbase Custody Trust Co. with the responsibility of safeguarding the cryptocurrency for their proposed ETF.
The global cryptocurrency market is currently witnessing a 2.47% increase in its capitalization in the past 24 hours, which stands at $1.028 trillion, while the total market volume has decreased by 22.27% to $34.2 billion over the same time. With Bitcoin’s value on the rise, it’s worth exploring other cryptocurrencies that have strong fundamentals and favorable technical analysis. Some of the best cryptos to buy now include WSM, IMX, ECOTERRA, CRV, YPRED, NEO, and SWDTKN.
Wall Street Memes’ $WSM is currently in relatively early stages of presale, offering early investors the opportunity to make significant gains. With a proven track record, the Wall Street Memes team has a history of quickly selling out digital asset launches and boasts an extensive social community, likely due to the attention of prominent personalities like Elon Musk. The $WSM token is reportedly being considered for listing on major cryptocurrency exchanges, as negotiations are said to be taking place between Wall Street Memes and these major exchanges.
Immutable X (IMX) appears to have found a stable support zone in the $0.557 to $0.579 range. Although the short-term trend seems bearish, a bullish reversal could be on the cards, particularly if the price manages to surpass the 20-day EMA. IMX is currently trading at $0.622, with resistance levels at $0.637. Breaking above this confluence area would be a bullish signal, indicating the potential for further upside movement.
Ecoterra, a pioneering web3 Recycle-to-Earn (R2E) platform, has raised more than $5.15 million in its $ECOTERRA token pre-sale, reflecting the platform’s potential to drive positive change and transform the way people approach recycling. The ecoterra application will reward users with cryptocurrency for recycling bottles via Reverse Vending Machines (RVMs), and the company has secured partnerships with major beverage brands such as Coca-Cola, Carlsberg, and Evian.
Curve DAO (CRV) has experienced a 7% surge in trading activity, driven by a large liquidation of short positions. Recent changes in the funding rate suggest a short squeeze may have occurred, resulting in a price bounce for Curve. The current trading price is $0.630, indicating the potential for further upward movement if it faces resistance at the 20-day EMA level of $0.721.
Finally, anticipation is building in the gaming community with the upcoming release of Swords of Blood, an action RPG. The game’s presale has already raised over $1.31 million so far, marking it as potentially one of the best cryptos to buy now. The game offers an array of vibrant combat, stunning graphics, and multiple game modes, and the low entry barrier makes it accessible to both traditional and cryptocurrency gamers.
While the technical indicators for each of these cryptocurrencies have pros and cons, they all provide potential opportunities for interested investors. It’s essential to closely watch the price action at current support and resistance levels and be prepared to adjust your strategies as conditions evolve. Always remain mindful of broader market conditions and tread carefully amidst uncertainty.
Source: Cryptonews
