Bitcoin is currently trading at $29,038 and has dipped by 3.47% so far today, likely due to market anticipation of the Federal Reserve’s interest rate announcement on July 26.
The broader cryptocurrency market is also experiencing declines. Ether, the second-largest crypto, is down 2.39% and trading at $1,844.
Other major cryptos, such as Ripple and Binance Coin, have also fallen, dropping 4.89% and 1.98%, respectively.
In other news, Sam Altman, CEO of OpenAI, launched a new cryptocurrency called Worldcoin today.
Its standout feature is an identity verification system that uses retina scans to combat the issue of synthetic identities generated by AI platforms.
Leading crypto exchange Binance also announced plans to list Worldcoin. However, regulatory issues have so far limited Worldcoin’s availability in the US.
Given the current context of the cryptocurrency market, Flex Coin, Evil Pepe Coin, ApeCoin, Burn Kenny, and The Graph may be some of the best cryptos to buy now, thanks to their strong fundamentals and/or positive technical analysis.
Gearing for the Next Leg Up: Why Flex Coin (FLEX) Is One of the Best Cryptos to Buy Now
Following its failed attempt to mount the Fib 0.236 level at $4.862 on July 21, the cryptocurrency traced its path back to the vicinity of the Fib 0.618 level at $3.841.
A subsequent effort to break out from the Fibonacci 0.5 level at $4.156 resulted in an intraday high of $4.193 earlier today.
Despite facing selling pressure that nudged it back to the current price of $4.038, the cryptocurrency remains in the green, logging a 1.43% gain for the day.
This trajectory suggests a possible longer consolidation above the Fibonacci 0.618 level before Flex Coin commences its potential upward climb.
A quick glance at Flex Coin’s moving averages elucidates 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 indicate a bullish sequence, signaling a potentially favorable long-term trend.
The Relative Strength Index (RSI) – a momentum oscillator that measures the speed and change of price movements – stands at 59.69, up from yesterday’s 56.04.
As it’s below the overbought threshold of 70, there may be room for the cryptocurrency to appreciate before reaching a potentially overbought condition.
Additionally, the MACD histogram reads 0.0286, down from yesterday’s 0.0448. This reduction in positive momentum could be a sign of a short-term pause or pullback, aligning with the potential for a period of consolidation indicated by the recent price movements.
In light of these indicators, traders should remain alert for a potential consolidation period, as suggested by both the price action and the decrease in the MACD histogram.
The immediate support at the Fib 0.618 level at $3.841 provides a reasonable cushion in case of a pullback, while the resistance at the Fib 0.5 level at $4.156 represents the immediate challenge for the bulls.
While Flex Coin’s technical indicators hint at a bullish long-term trend, short-term fluctuations and potential consolidation require careful consideration.
Investors are advised to maintain a disciplined approach, accounting for the aforementioned support and resistance levels in their strategy.
One of the Best Cryptos to Buy Now: Evil Pepe Coin’s Rise To Meme Coin Fame
Expectations are high for Evil Pepe Coin, the wicked counterpart of 2023’s standout meme coin Pepe.
This sinister newcomer is generating a lot of noise with its presale, which has already accumulated over $700,000 so far.
Evil Pepe Coin comes to life, courtesy of the same team behind Thug Life Token ($THUG) and SpongeBob ($SPONGE), which garnered significant attention in the crypto space.
Its rise in popularity is credited to a strategic promotional campaign executed by a skilled marketing team, involving partnerships with several influencers and established crypto news platforms.
Evil Pepe Coin exhibits an encouraging tokenomics structure. A total of 90% of the token supply is allocated for the presale, with the remaining 10% locked in DEX liquidity for a month.
This structure is designed to ensure a fair trading environment post-launch on the Ethereum blockchain.
The ambitious vision of Evil Pepe Coin involves collaborating with influential meme-makers to achieve a market cap of $100 million.
The plan even seeks to outperform its predecessor, Pepe Coin, which currently has a market cap of over $500 million. Accomplishing this feat would result in significant gains for early investors.
Evil Pepe Coin’s potential as the best crypto to buy now appears promising.
The team’s experience, combined with a targeted marketing strategy and favorable tokenomics, may offer a lucrative opportunity for meme coin enthusiasts.
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Apecoin (Ape) Market Cap Falls by 3.21%, Trading Volume Surges by 117.87%
ApeCoin (APE) continues to struggle to maintain its foothold above the 20-day EMA, currently priced at $2.072.
Despite managing to surge above this mark on July 20 for the first time in 90 days, APE was repelled at the Fib 0.236 resistance level at $2.183.
This rejection instigated a drop, pushing APE once again below the 20-day EMA. Today, APE stands at $2.022, down by 3.44%.
ApeCoin’s performance continues to languish beneath both the 50-day EMA ($2.310) and the 100-day EMA ($2.794), signaling a bearish trend.
These indicators could potentially serve as formidable resistance levels in the immediate future, adding pressure on APE to maintain upward momentum.
Adding to this bearish outlook is the RSI, which has slipped from yesterday’s 48.55 to today’s 44.13.
This move toward the oversold territory suggests growing selling pressure and waning bullish interest.
Further adding weight to this pessimistic view is the MACD histogram, which decreased to 0.027 from yesterday’s 0.034.
This shift reflects weakening bullish momentum, indicating that sellers are gaining control.
An examination of APE’s market cap, which fell by 3.21% to $746 million, seemingly aligns with the bearish outlook.
Notably, however, trading volume has increased by a significant 117.87% to $111 million.
This surge in volume accompanying the price decline implies a strong bearish conviction and could indicate further downward movement for APE.
Despite these indications, all is not lost for ApeCoin. Traders should keep an eye on the immediate swing low support zone, ranging from $1.816 to $1.873.
If APE can successfully hold above this level, it could negate immediate bearish forecasts and potentially give the bulls a fighting chance.
However, to make a definitive bullish turnaround, ApeCoin will have to conquer the Fib 0.236 resistance at $2.183.
A sustained break above this point could invite further buying pressure, potentially pushing APE above its 20-day EMA and potentially changing the market sentiment.
While the current scenario leans towards the bears, traders should tread with caution, keeping a close eye on these key technical indicators and levels.
A swift change in any of these could quickly alter ApeCoin’s trajectory in the cryptocurrency market.
Burn Kenny Coin Launches on Uniswap: $500,000 Presale Target Hit In Under 48 Hours
Burn Kenny Coin, the highly anticipated meme cryptocurrency of 2023, has made an impressive debut.
The presale of $500,000 sold out in less than 48 hours, and now it’s available for purchase on Uniswap at a price of $0.000051 as of writing.
The initial valuation of Burn Kenny Coin rests at a modest $1.25 million market cap. With a robust marketing plan and rapidly escalating social media hype, the market cap is anticipated to grow exponentially post-launch.
This, coupled with a low initial valuation, presents an enticing opportunity for investors searching for the best crypto to buy now.
Channeling South Park’s long-running joke about Kenny’s many deaths, Burn Kenny Coin implements a unique crypto burn system with high impact potential.
10% of the total $KENNY token supply was burnt today, reducing 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 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’s (GRT) Potential for Recovery Makes It One of the Best Cryptos to Buy Now
Following a 10-day period of consolidation between the Fib 0.5 level at $0.1160 and the Fib 0.382 level at $0.1226, GRT succumbed to the broader cryptocurrency market’s sell-off. It has now broken down below the Fib 0.5 level at $0.1160.
Diving deeper into the technical indicators, the 20-day and 50-day EMAs sit at $0.1162 and $0.1161 respectively, marginally above the current price of $0.1119. This further signals a bearish inclination.
The 100-day EMA at $0.1189 is also lingering above the current trading price, suggesting a potential long-term bearish trend.
Examining the RSI, the value has dipped from 52.20 to 44.98, indicating a growing bearish momentum. This implies that GRT is losing its bullish strength, and sellers are taking control.
The MACD histogram corroborates this sentiment. It has shown a decline from -0.0004 to -0.0007, suggesting an increase in selling pressure.
Observing the volume and market cap indicators, they further substantiate this bearish narrative.
Despite the market cap shrinking by 5.83% to $1 billion, volume has spiked by a significant 124.86% to $46.5 million.
This implies that the sell-off is not merely a price fluctuation, but instead, it is backed by substantial volume, reinforcing the bearish momentum.
In terms of price levels, GRT currently faces immediate resistance at the Fib 0.5 level at $0.1160, which is a critical hurdle for the bulls. On the downside, the immediate support lies at the Fib 0.618 level at $0.1095.
As the technical indicators signal bearish market sentiment, traders may want to tread with caution and consider risk management strategies.
Long-term investors should keep a close watch on these indicators for any sign 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 of your capital.
