Bitcoin is currently trading at $29,038 and is down 3.47% year to date, possibly due to market anticipation of the Federal Reserve’s interest rate announcement on July 26.
The broader cryptocurrency market is also seeing a decline. Ether, the second largest crypto, is trading down 2.39% at $1,844.
Other major cryptos, such as Ripple and Binance Coin, also declined by 4.89% and 1.98%, respectively.
In other news, OpenAI CEO Sam Altman launched a new cryptocurrency called WorldCoin today.
Its standout feature is an identity verification system that uses retinal scans to tackle the issue of synthetic identities posed by AI platforms.
Leading crypto exchange Binance also announced plans to list WorldCoin, However, until now WorldCoin’s availability in the US is limited due to regulatory issues.
Given the current context of the cryptocurrency market, Flex Coin, Evil Pepe Coin, Apecoin, Burnt Kenny and The Graff could be some of the best cryptos to buy right now, thanks to their strong fundamentals and/or positive technical analysis.
Preparing for the Next Step: Why Flex Coin (FLEX) Is One of the Best Cryptos to Buy Right Now
After its failed attempt to mount the Fib 0.236 level at $4.862 on July 21, the cryptocurrency recovered around the Fib 0.618 level at $3.841.
A subsequent attempt to break out of the Fibonacci 0.5 level at $4.156 resulted in an intraday high of $4.193 earlier today.
Despite facing selling pressure that brought it back to the current price of $4.038, the cryptocurrency remained in the green, registering a gain of 1.43% for the day.
This trajectory suggests a possible longer consolidation above the Fibonacci 0.618 level before a possible upside move for flex coin.
A quick look at the moving averages of FlexCoin makes the broader trend clear. 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, potentially indicating a favorable long-term trend.
Relative Strength Index (RSI) – a momentum oscillator that measures the speed and change of price movements – rose to 59.69 from yesterday’s 56.04.
Since it is below the overbought range of 70, the cryptocurrency may have room to appreciate before reaching a potentially overbought condition.
Additionally, the MACD histogram reads 0.0286, down from yesterday’s 0.0448. This loss of positive momentum could be a sign of a short-term pause or a pullback, which is in line with the possibility of a consolidation period as indicated by recent price action.
In light of these indicators, traders should remain alert for a possible consolidation period, as suggested by both the price action and the declining MACD histogram.
The immediate Fibonacci support at $3.841 at the 0.618 level provides a reasonable support in case of a pullback, while the Fibonacci 0.5 level at $4.156 represents an immediate challenge for the bulls.
While the technical indicators for Flex Coin indicate a bullish long-term trend, short-term volatility and potential consolidation require careful consideration.
Investors are advised to maintain a disciplined approach in their strategy keeping in mind the above mentioned support and resistance levels.
One of the Best Cryptos to Buy Right Now: Evil Pepe Coin’s Rise to Meme Coin Fame
Expectations are high for the 2023 paranormal meme coin Pepe’s evil counterpart, the Evil Pepe Coin.
This scrappy newcomer is causing a lot of noise with its presale, which has accumulated over $700,000 so far.
Courtesy the same team behind Thug Life Token ($THUG) and Sponge Bob ($SPONGE), Evil Pepe Coin came to life, garnering significant attention in the crypto sphere.
Its rise in popularity is attributed to a strategic promotional campaign executed by an efficient marketing team, which includes partnerships with several influencers and established crypto news platforms.
Evil Pepe Coin exhibits an encouraging toenomics structure. A total of 90% of the token supply is allocated for the presale, with the remaining 10% locked in DEX liquidity for one month.
This structure is designed to ensure a fair trading environment after launch on the Ethereum blockchain.
Evil Pepe Coin’s ambitious vision includes collaborating with influential meme-makers to achieve a market cap of $100 million.
The scheme also looks to outperform its predecessor, Pepe Coin, which currently has a market cap of over $500 million. Achieving this milestone will bring significant benefits to early investors.
Evil Pepe Coin’s potential as the best crypto to buy now looks promising.
The team’s experience, along with a targeted marketing strategy and favorable toconomics, may provide an attractive opportunity for Mem Coin enthusiasts.
Visit Evil Pepe Coin now
Apecoin (AP) market cap dropped by 3.21%, trading volume increased by 117.87%
ApeCoin (APE) is struggling to hold above the 20-day EMA, which is currently priced at $2.072.
Despite managing to rise above this mark for the first time in 90 days on July 20, APE was pushed back to the Fib 0.236 resistance level at $2.183.
This rejection triggered a decline, which took the APE back below the 20-day EMA. Today, APE is down by 3.44% at $2.022.
ApeCoin’s performance remained below both the 50-day EMA ($2.310) and the 100-day EMA ($2.794), indicating a bearish trend.
These indicators could potentially serve as formidable resistance levels in the immediate future, increasing the pressure on APE to maintain its upward momentum.
Adding to this bearish outlook is the RSI, which has dropped from 48.55 yesterday to 44.13 today.
This move towards the oversold region reflects increasing selling pressure and rapidly increasing interest.
Adding more weight to this pessimistic outlook is the MACD histogram, which has declined to 0.027 from yesterday’s 0.034.
This change reflects a weakening bullish momentum, indicating sellers are taking control.
Examining the market cap of APE, which declined 3.21% to $746 million, appears to be in line with the bearish outlook.
However, notably, the trading volume has increased by 117.87% to $111 million.
This spurt in volume coupled with a fall in price reflects a strong bearish confidence and may indicate further downside for the APE.
Despite these signs, all is not lost for ApeCoin. Traders should keep an eye on the immediate swing low support area 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 definite upside move, ApeCoin will need to overcome the Fib 0.236 resistance at $2.183.
A sustained break above this point could invite further buying pressure, potentially pushing APE above the 20-day EMA and potentially changing market sentiment.
While the current scenario is tilting bearish, traders should tread carefully by keeping a close eye on these key technical indicators and levels.
A sharp change in any of these could drastically change ApeCoin’s trajectory in the cryptocurrency market.
Burnt Kenny Coin launches on Uniswap: hits $500,000 presale target in under 48 hours
Burnt Kenny Coyne, The The most 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 for a price of $0.000051 at the time of writing.
The initial valuation of Burn Kenny Coin is at a modest $1.25 million market cap. With a strong marketing plan and booming social media promotion, the market cap is expected to grow exponentially post launch.
This, combined with low initial valuations, presents an attractive opportunity for investors looking for the best crypto to buy now.
Channeling South Park’s long-running joke about Kenny’s multiple deaths, Burn Kenny Coin implements a unique crypto burn system with high impact potential.
10% of the total $KENNY token supply was destroyed today The reduction in the circulating supply is 666,666,666 tokens.
More burns are planned over the next two days, with a further 10% of the supply removed each day.
Given the unique selling proposition and anticipated demand for Burn Kenny Coin, momentum is of the essence for investors looking to capitalize on this emerging opportunity in the Mem Coin market.
Graphene (GRT)’s Potential for Recovery Makes It One of the Best Cryptos to Buy Right Now
After 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 faced a broader cryptocurrency market selloff. It has now broken below the Fib 0.5 level at $0.1160.
Delving 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 indicates further bearish trend.
The 100-day EMA at $0.1189 is also holding above the current trading price, suggesting a possible long-term bearish trend.
Examining the RSI, the price has declined from 52.20 to 44.98 which is indicating increasing bearish momentum. This implies that GRT is losing its bullish power, and sellers are taking control.
The MACD histogram confirms this sentiment. It has seen a decline from -0.0004 to -0.0007, indicating an increase in selling pressure.
Looking at the volume and market cap indicators, they further reinforce this bearish narrative.
Despite the market cap decreasing by 5.83% to $1 billion, the volume has increased by 124.86% to $46.5 million.
This implies that the sell-off is not just price volatility, but instead, it is supported by substantial volumes, reinforcing bearish momentum.
In terms of price levels, GRT is currently facing immediate resistance at the $0.1160 Fibonacci 0.5 level, which is an important hurdle for the bulls. On the downside, immediate support is at the $0.1095 Fib 0.618 level.
As technical indicators indicate bearish market sentiment, traders may want to tread carefully and consider risk management strategies.
Long-term investors should keep a close watch 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 can lose all your capital.