After reaching a 13-month high of $31,800 on Thursday, Bitcoin has pulled back over the last couple of days and is now facing resistance around $30,000.
The leading cryptocurrency by market cap is currently trading at $29,551, down 2% so far today.
The broader cryptocurrency market cap has also fallen by 0.85% to $1.16 trillion. After hitting an intraday low of $1.151 trillion, the market is currently recovering slightly above the 20-day EMA of $1.155 trillion.
This market instability has sparked conflicting opinions among investors. Some anticipate further volatility, while others see it as a chance to capitalize on potential gains.
Amidst this market uncertainty, Flex Coin, Evil Pepe Coin, Chainlink, BTC20, and Sui are some of the best cryptos to buy now due to their robust fundamentals and/or favorable technical analysis.
Flex Coin (FLEX): One of the Best Cryptos to Buy Now Amidst Bullish Surge
Flex Coin (FLEX) has continued to illustrate a bullish sentiment, recording a considerable uptick of 27.44% so far in today’s trading session.
Flex is currently outperforming the broader cryptocurrency market, breaking away from its past consolidation phase.
This heightened activity is the result of FLEX rebounding off the Fib 0.5 level at $2.544 and the 50-day EMA on July 7.
The price is currently cruising above its 20-day, 50-day, and 100-day EMAs, at $4.258, a bullish indicator that reinforces 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 moving averages signals a firm uptrend and suggests that the bulls are in control.
Another key point to note is the strengthening momentum reflected by the RSI, which is currently at 65.41, up from yesterday’s 55.20.
This indicates that buying pressure is steadily mounting, a signal that market participants are increasingly accumulating FLEX.
The MACD histogram is also offering an optimistic prognosis. A rise from yesterday’s -0.107 to -0.039 indicates that bullish momentum is building, especially with the MACD on the cusp of a bullish crossover.
Should this crossover materialize, it could further solidify the bullish stance and attract more buyers to the market.
However, traders should be mindful of potential resistance and support levels. On the upside, the currency faces the current swing high resistance ranging from $4.333 to $4.513.
Should FLEX manage to overcome this hurdle, it could open the door for further bullish advancement.
On the flip side, immediate support lies at the Fib 0.236 level at $3.588. This could serve as a crucial safety net, curbing any potential downside and maintaining the bullish momentum.
Traders are advised to watch out for a potential MACD bullish crossover confirmation, which could provide a promising buying opportunity.
Evil Pepe Coin (EVILPEPE) Presale Valuation Indicates Potential for Significant Gains
From the creators of Thug Life Token ($THUG) and SpongeBob ($SPONGE) comes $EVILPEPE.
Past success stories demonstrate a formidable track record, with $THUG’s presale price increasing threefold after its launch on decentralized exchanges (DEXs), and $SPONGE recording a remarkable near 100x rally.
Connecting the dots, a comparable trajectory for $EVILPEPE is highly plausible.
The key to success, you ask? The answer lies in adept marketing strategies, partnerships with influencers, and collaborations with respected crypto news websites.
This ensures high visibility across social media and cryptocurrency news platforms.
True to its roots in the Pepe meme coin family, Evil Pepe Coin capitalizes on the notoriety of 2023’s best-performing meme coin genres.
The journey of Pepe 2.0 offers an inspiring example. Launched on DEXs at a seemingly insignificant price, $PEPE2.0 skyrocketed to a market cap of over $75 million, making its early investors rich.
Looking ahead, the presale valuation of just over $2 million for Evil Pepe Coin indicates the potential for significant gains, especially for those willing to invest a substantial sum.
Acknowledging its commitment to a community-oriented approach, the presale is making available 90% of the total token supply.
Additionally, the remaining 10% will be temporarily secured as DEX liquidity for a duration of one month, which will aid in ensuring seamless trading when the token is officially introduced on the Ethereum blockchain.
With a shared ambition of reaching a $100 million market cap, the Evil Pepe Coin team aspires to collaborate with influential meme-makers and form alliances within the meme coin universe.
While there’s no such thing as a crystal ball in the cryptocurrency market, the current narrative suggests that presale participants could stand to 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 Fib 0.5 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 with an 8.76% surge on Monday, LINK finds itself in a precarious position, trading at $6.956, down by 3.20% so far today.
Traders are keeping a close eye on the charts, looking for signs of potential reversals or breakouts.
LINK’s 20-day EMA currently sits at $6.510. Given that the price of LINK is currently above this line, it suggests that the short-term trend remains bullish.
However, the slight downward movement today indicates that LINK might be experiencing some selling pressure.
The 50-day EMA ($6.328) and the 100-day EMA ($6.439) are trailing behind the 20-day EMA, suggesting that the medium-to-long-term trend is also in the bulls’ favor.
However, if the price does break 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 buyers were dominating the market, the momentum is slowing down.
A further drop in the RSI might indicate weakening bullish momentum, and traders should keep an eye on this level.
The MACD histogram is at 0.064, a slight decrease from yesterday’s 0.072. This could potentially be a sign of a short-term decrease in bullish momentum. However, as long as it remains above zero, the overall trend remains bullish.
An immediate resistance level to watch is the Fib 0.618 level at $7.260, a level which has proven difficult to break as LINK experienced some rejection on July 14, yesterday, and earlier today when it registered an intraday high of $7.30. A break above this point could set off a significant bullish move.
Despite the slight downward movement, LINK’s overall trend remains bullish, as displayed by its position above the EMAs and the positive MACD histogram.
However, the decreasing RSI and MACD histogram suggest that the bullish momentum might be weakening.
Traders should keep a close eye on the Fib 0.5 level at $6.784 and the horizontal support level of $6.752 to $6.874.
A break below these levels might indicate a trend reversal while holding these levels could set the stage for the next upward move.
BTC20: Why It’s One of the Best Cryptos to Buy Now for Long-Term Gains
Embracing the past while looking forward to the future, BTC20 is a cryptocurrency that offers investment possibilities reminiscent of Bitcoin’s early days.
The upcoming crypto token, $BTC20, is priced at $1.00—parallel to Bitcoin’s 2011 valuation—providing an enticing invitation to those seeking the next best crypto to buy.
BTC20 differentiates itself from the original Bitcoin and other replicas by adopting Ethereum’s Proof-of-Stake (PoS) consensus mechanism, as opposed to Bitcoin’s energy-intensive Proof-of-Work (PoW).
This strategic decision will enable BTC20 to reduce power consumption significantly, aligning the token with the current emphasis on sustainability in the crypto sphere.
BTC20 will distinguish itself from other Bitcoin clones by offering returns for staking, setting it apart in a crypto market flooded with countless imitations. This unique feature will enhance its appeal among potential investors.
One cannot overlook the impact of Bitcoin’s imminent halving event on BTC20. Historically, Bitcoin’s halving—where miner rewards are cut by half every four years—has led to an increase in its value.
Given BTC20’s association with Bitcoin, there is the potential for it to benefit from this anticipated super cycle.
As an ERC-20 token built on the Ethereum blockchain, BTC20 will offer flexibility and usability superior to Bitcoin.
Additionally, the token will allow stakers to secure their funds in a verified smart contract, providing an opportunity to earn passive income while ensuring safety.
The capped supply of BTC20 creates a sense of urgency, further solidifying it as a potential candidate for those seeking promising crypto investments.
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SUI Breaks Resistance: A Promising Upward Trajectory
SUI is exhibiting a strong bullish momentum, as evidenced by recent trading performance and a host of technical indicators.
Following a robust 7% move to the upside in yesterday’s trading, it broke through the 20-day EMA and the Fib 0.5 level at $0.7014.
SUI has continued its vigorous upward trajectory, currently trading at $0.7537, up by 4.72% so far today.
The 20-day EMA has been broken with a current value of $0.6963. The breach of this EMA underscores the bullish trend, indicating that the short-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 in the coming days.
The RSI has increased to 58.42 from yesterday’s 52.71, a sign that the cryptocurrency is gaining strength.
An RSI above 50 typically suggests that the momentum is with the bulls, providing further evidence of a potential continued upward movement.
The MACD histogram has also seen an increase, moving to 0.0147 from yesterday’s 0.0112.
This positive shift in the MACD histogram suggests that the bullish momentum is likely to continue.
The market cap for SUI has swelled by 10.16% to $494,376,454, while trading volume has also seen a significant surge of 189.13% to $479,797,765.
This increase in volume and market cap demonstrates a strong investor interest, which could further fuel the bullish momentum.
In terms of support and resistance levels, the immediate support is seen at the Fib 0.382 level at $0.7463. This could serve as a price floor in the event of any short-term pullbacks.
On the upside, traders should look out for the 50-day EMA at $0.7885 followed by the Fib 0.236 level at $0.8018, which could act as potential resistance levels.
Based on the current technical analysis, SUI’s bullish momentum is likely to persist in the immediate 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 of your capital.
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