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Bitcoin and Ethereum are currently witnessing a significant uptick, coinciding with a downturn in traditional banking equities, particularly in light of the recent sale of First Republic Bank.
How might this sudden cryptocurrency market bounce affect the selection of the best crypto to buy now?
Bitcoin exhibited a notable ascent earlier today, setting an intra-day high of $28,916 from its opening price of $28,086.
Bitcoin is currently trading at a price of $28,741 with a gain of 2.33% so far today.
This upward trajectory was observed prior to the opening of financial markets and the subsequent decline in banking equities.
Similarly, Ethereum, the second-largest digital currency by market capitalization, is experiencing an upward shift, reaching $1,881 from its opening price of $1,832.
Ethereum is currently trading at $1,876, reflecting a gain of 2.43% so far today.
Based on a combination of fundamental and technical analysis AI, EGLD, LPX, TRX, ECOTERRA, INJ, and SWDTKN have been identified as the best cryptos to buy now.
Automated Meme Coin Generator: AiDoge's Unique Offering
The AiDoge meme coin has garnered significant attention as well lately, raising $930,000 in its second presale stage, and is now progressing into the third stage with a token price increase from $0.00002640 to $0.00002680.
As the best crypto to buy for those interested in the AI meme coin trend, AiDoge is gaining popularity and may sell out during its 20 presale stages in just a few weeks.
AiDoge distinguishes itself from other AI cryptos on the market by introducing an automated meme coin generator, offering early investors an advantage in the rapidly growing crypto space.
As AI tools and meme coins gain traction, AiDoge's potential is evident, aligning itself with successful cryptocurrencies like Conflux and Pepe Coin in the meme and AI niches.
Similar to the success of OpenAI and ChatGPT, AiDoge aims to combine a valuable application with a well-timed launch.
Investors appreciate the coin's real-world utility and potential for impressive ROI, as AiDoge could become mainstream in the near future.
AiDoge is an AI crypto project with a unique real-world use case, utilizing artificial intelligence to generate memes based on ecosystem trends and news.
The native meme token, AI, is used as a credit purchasing medium to incentivize users and meme voting.
The platform revolutionizes digital communication and engagement by making meme creation more accessible and user-friendly.
Users can purchase credits with the AI token, and community members are rewarded with tokens for participating in meme voting and creating trending content.
AiDoge offers staking incentives, daily rewards, and premium features for users who stake AI tokens.
Top-ranking meme creators gain access to exclusive features and voting rights in AiDoge's governance.
The platform also has a public wall feed, where community members can vote on their favorite memes, which are then rewarded with tokens.
To ensure security, AiDoge employs robust, fully Certik-audited smart contracts and a decentralized network, protecting users' assets and minimizing the risk of exploitable bugs.
The AiDoge team believes that the adaptable and dynamic ecosystem will be well-received in the crypto space, making it one of the best crypto to buy now for meme enthusiasts.
MultiversX (EGLD)
EGLD's price movement has been characterized by a rejection from the Fibonacci 0.236 level at $49.19, which coincided with a horizontal resistance area between $48.98 and $49.93.
Following this rejection, EGLD retraced to the current level of the Fibonacci 0.618 at $40.74.
The 20-day EMA for EGLD is currently at $41.269, while the 50-day EMA stands at $41.801, and the 100-day EMA is at $42.630.
The fact that EGLD's current price of $40.75 is below all three EMAs suggests that the cryptocurrency is experiencing bearish momentum.
Additionally, the 20-day EMA is below both the 50-day and 100-day EMAs, further reinforcing the bearish trend.
The RSI for EGLD is currently at 47.55, down from yesterday's 50.51. This indicates that EGLD is in neutral territory, but it is approaching oversold conditions.
The drop in RSI suggests that selling pressure is increasing, and EGLD may continue to face downward pressure in the near term.
EGLD's current price of $40.75 represents a loss of 2.44% so far today. The immediate resistance level for EGLD is the Fibonacci 0.5 level at $43.35
On the downside, EGLD's potential support is the Fibonacci 0.618 level at $40.74. This level is critical for EGLD to hold, as a break below it could lead to further selling pressure.
If the price falls even further, EGLD may potentially find some support around the Fibonacci 0.786 level at $37.03.
EGLD is currently facing key resistance and support levels that will likely determine its immediate price direction.
Traders should keep a close eye on the Fibonacci levels, EMAs, and RSI to gauge the strength of the current trend and make informed trading decisions
Wallet Liftoff: Launchpad's Web3 Wallet Takes Ease of Use to New Heights
The Web3 platform known as Launchpad (LPX) has made a remarkable entrance into the crypto market, securing $142,000 within minutes during its presale. The LPX token, priced at $0.035, is currently available in the initial phase of a ten-tiered presale.
Launchpad aims to simplify entry into the world of Web3 decentralized offerings, from gaming to a variety of emerging decentralized services, such as data management and ride-sharing.
The LPX token serves as the key to accessing these services.
"Web3 has been a mystery to the average person, and even crypto enthusiasts can find the onboarding process daunting," said a spokesperson for Launchpad.
The platform addresses these challenges by providing a user-friendly way to interact with Web3 products securely.
Companies, too, face obstacles in entering the Web3 space, with concerns about potential harm to their brand reputation if a Web3 partnership goes awry.
Launchpad offers a reliable framework for major brands like Apple, Nike, and Coca-Cola to launch Web3 experiences for their clientele.
While other platforms offer partial access to Web3 services, Launchpad aspires to be a comprehensive gateway to the Web3 ecosystem.
Central to this vision is the Launchpad Web3 wallet, which emphasizes ease of use.
With just a phone number or email, users can connect to Web3 services, trade tokens, and interact with decentralized applications (DApps).
The platform also features a decentralized exchange (DEX) that caters to traders of all skill levels. The DEX supports trading in hundreds of asset pairs and will later introduce perpetual futures contracts for select pairs. Staking the LPX token can reduce exchange fees.
Launchpad's DEX shares similarities with dYdX, a well-known decentralized exchange. The LPX token's price potential is immense, especially given the recent challenges faced by centralized exchanges.
In addition to the DEX, Launchpad offers access to NFT marketplaces, a Web3 presales discovery platform, a hub for play-to-earn (P2E) games, and a Metaverse Experience Library.
Tron (TRX)
Tron (TRX) has broken out of an ascending triangle formation that had been constraining its price action for nearly two months.
This bullish breakout was confirmed by two consecutive green candles over the past two days, and TRX is now eyeing its year-to-date (YTD) high of $0.07307, which was set on February 20.
The 20-day EMA for TRX currently stands at $0.06692, while the 50-day EMA is at $0.06609, and the 100-day EMA is at $0.06487.
These EMAs are all trending upward, indicating that the short-term, intermediate-term, and long-term trends are all bullish.
The fact that the current price of $0.06933 is above all three EMAs further supports the bullish bias.
The RSI for TRX has risen slightly to 62.90 from yesterday's 62.63, suggesting that buying pressure is increasing.
The current level indicates that TRX is in a healthy uptrend, with room for further upside before reaching overbought territory.
The MACD histogram is also showing positive signs. The MACD histogram value has increased to 0.00035 from yesterday's 0.00031, indicating that bullish momentum is building.
The positive histogram value suggests that the shorter-term EMA is above the longer-term EMA, which is a bullish signal.
TRX is currently experiencing a gain of 0.16% so far today, with its price at $0.06933.
The immediate resistance for TRX lies in the area of $0.07196 to $0.07305, which includes the aforementioned YTD high.
A break above this resistance zone could open the door for further gains, potentially leading to a new YTD high.
On the downside, potential support can be found at the upper trendline of the ascending triangle, which lies in the range of $0.06762 to $0.06809.
This area previously acted as resistance and may now serve as support following the breakout.
A successful retest of this support zone would provide further confirmation of the bullish breakout and could attract additional buying interest.
The technical indicators for TRX are pointing to a bullish outlook, with the breakout from the ascending triangle formation serving as a key catalyst.
Traders and investors should keep a close eye on the immediate resistance and support levels mentioned above, as they could provide important clues about TRX's next directional move.
Ecoterra: A Strong Contender for the Best Crypto to Buy for Eco-Conscious Investors
Ecoterra, a green cryptocurrency initiative, presents an exceptional opportunity to bring the circular economy closer to the mainstream.
The project's Web3 Recycle-2-Earn app uses blockchain technology and a rewards-driven strategy, making it a strong contender for the best crypto to buy for those prioritizing environmental responsibility and sustainability.
The Recycle-2-Earn app by Ecoterra rewards users with $ECOTERRA tokens when they recycle items.
By assigning an ecological value to each item, users can accumulate tokens that can be held, staked, or spent on eco-friendly activities, fostering a sustainable way of living.
Another crucial element of Ecoterra is its Carbon Offset Marketplace, where users and businesses can counterbalance their carbon emissions by buying carbon credits using $ECOTERRA tokens.
Users' environmental accomplishments are transformed into NFTs as they reach specific milestones in their carbon offset endeavors, further motivating their eco-friendly efforts.
Ecoterra's objectives also include linking recycling enthusiasts with companies.
The Recycled Materials Marketplace, part of their green crypto project, helps businesses from diverse sectors locate and obtain materials to contribute to the circular economy.
The Impact Trackable Profile also enables companies to display their environmental initiatives by purchasing impact packages composed of various materials.
Although Ecoterra is a relatively new player in the field, it has made considerable strides, amassing $2.82 million during its presale and boasting an extensive product database.
Well-known brands such as Heineken, Vittel, Dr. Pepper, Pepsi, Fanta, Peroni, Evian, and Nestlé have all become part of Ecoterra's database.
Ecoterra emphasizes the importance of raising public awareness about recycling and motivating individuals to take an active role.
The waste management app is designed to engage users and establish a circular product life cycle by linking recycling firms with product manufacturers.
Considering its potential influence on waste management and the circular economy, Ecoterra may very well be one of the best cryptos to buy now for environmentally conscious investors.
Injective (INJ)
Injective (INJ) has been exhibiting a period of consolidation over the past two days, with price action moving sideways and bouncing off key support levels.
The cryptocurrency's price is currently hovering around $7.839, representing a slight decline of -0.34% so far today.
However, a closer look at the technical indicators suggests that INJ may be gearing up for a potential continuation to the upside.
One of the key indicators to watch is the 20-day EMA, which currently sits at $7.664.
This level has been acting as a dynamic support, with the price bouncing off the Fib 0.382 level at $7.552 in confluence with the 20-day EMA.
The proximity of the current price to the 20-day EMA, along with minimal trading volume, indicates that INJ may be in a consolidation phase before making its next move.
The 50-day EMA and 100-day EMA, which are currently at $6.504 and $6.221 respectively, further reinforce the bullish bias.
The fact that the current price is above both of these longer-term EMAs suggests that the overall trend remains positive.
The RSI currently stands at 55.02, up slightly from yesterday's 54.51. This moderate RSI value indicates that INJ is neither overbought nor oversold, providing room for further price appreciation.
An RSI above 50 is generally considered a bullish signal, and the current value suggests that buying pressure is gradually increasing.
The MACD Indicator histogram is currently at -0.150, a slight decrease from yesterday's -0.141.
While the negative histogram value indicates short-term bearish momentum, the minimal change suggests that the bearish momentum is weakening.
Traders should keep a close eye on the MACD for any bullish crossovers, which could signal a potential upward move.
In terms of immediate resistance, INJ faces a key hurdle at the Fib 0.236 level at $8.476.
A break above this level, accompanied by increased volume, could open the door for further gains and confirm the continuation of the bullish trend.
On the flip side, potential support lies at the Fib 0.382 level at $7.552, which coincides with the 20-day EMA.
This confluence of support levels is likely to provide a strong floor for INJ in the event of a pullback.
Traders should monitor this level closely, as a sustained break below could signal a shift in market sentiment.
Slaying Opportunity: SWDTKN, the Best Crypto to Buy for Gaming Enthusiasts
Within a month, the presale for Swords of Blood has outperformed many of its rivals, amassing an impressive $1.2 million.
Investors are rushing to acquire the native token SWDTKN as the expectation builds for the hack-and-slash RPG to become one of the best crypto to buy and a leading gaming competitor in 2023.
The presale is now in its final, with the native token valued at 0.08 USDT.
Swords of Blood, often referred to as a potential "Diablo killer," offers an AAA-quality, high-speed hack-and-slash RPG experience based on the Polygon blockchain.
The game, compatible with both mobile and PC platforms, features captivating graphics and various game modes to cater to a broad range of players.
Players can anticipate over 250 hours of campaign thrills, traversing a variety of landscapes and engaging in monster battles while honing their skills with different weapons and abilities.
The game's isometric gameplay allows players to assume the roles of dungeon explorers, combat mages, or formidable warriors as they search for loot and forge magical equipment.
In May 2023, the Web3 MVP version of the game is scheduled to launch, giving presale investors exclusive entry to the closed beta.
The MVP will include a primary campaign mode with three levels of difficulty, a monster hunt dungeon, and several player-vs-player modes for engaging multiplayer action.
Capitalizing on the success of its predecessor, Bladebound, Swords of Blood is striving to be the best crypto to buy for investors seeking the ultimate GameFi experience in 2023.
With 4 million downloads and $6.5 million generated from in-game purchases, the original game's popularity suggests a promising future for Swords of Blood.