Last updated: | 10 min read
The cryptocurrency market has shown promising signs of strength today, with Bitcoin climbing 5% to trade around $42,000. This upward momentum has provided further tailwinds for altcoins like Chiliz (CHZ), which has surged 25% over the past month. With major partnerships and developments in the pipeline, Chiliz has risen as a top contender for the best crypto to buy now for investors looking to capitalize on the renewed optimism and buy the dip.
Conflux Network (CFX) has also made strides by unveiling an EVM-compatible Bitcoin Layer 2 solution, sparking a 30% price uptick for the past week. Additionally, Optimism’s OP token has also shown resilience despite the bearish market trends for the past few weeks.
Beyond established cryptos, up-and-coming crypto projects like Bitcoin Minetrix and Meme Kombat have been gaining traction in their presale phases. Their developments have intrigued many looking for early investment opportunities in the space.
With cryptocurrencies like CHZ, CFX, and OP making moves alongside fresh players, the cryptocurrency market continues to progress. Staying informed on these trends can help identify the best crypto to buy now.
Best Crypto to Buy Now in the News
Chiliz has made headlines with its aggressive expansion strategy and innovative developments on its blockchain platform. The CHZ token’s 18% weekly price gain, which marks a 7-month peak, is a response to a dynamic approach that includes a revamp of its tokenomics. The proposed changes involve a burn system, staking rewards, and the inclusion of external consultants to refine the economic model.
Additionally, the integration with the Rarible Protocol is set to elevate the NFT marketplace on the Chiliz Chain. This integration will likely enhance digital collectibles and user engagement, contributing to the token’s growing appeal.
The transition to a full-fledged Web3 blockchain for sports and entertainment underpins Chiliz’s evolution and underscores its strong market performance, even in the face of current market challenges.
Big news! Introducing the new frontier of Conflux: a fully EVM-compatible space powered by BTC!https://t.co/Un8WzaTjh9
🚀 Conflux is launching an EVM-compatible Bitcoin Layer 2.
💰 BTC will be the native currency for gas fee calculations.
🌉 Bridge diverse asset types from the…— Conflux Network Official (@Conflux_Network) January 18, 2024
Conflux Network’s CFX token experienced a 30% price increase following the January 18 announcement of an EVM-compatible Bitcoin Layer 2 solution. This approach combines Bitcoin’s store-of-value feature with Conflux’s Proof-of-Stake protocol, supporting Ethereum-based contracts. The mainnet launch is scheduled for May 2024, with a preceding testnet expected by the end of March.
Optimism’s OP token saw a major 39.05% retracement from January 12 to January 23, declining after setting its year-to-date high. However, the past three days have shown signs of recovery, with the price up 18.58% from its recent low.
Despite suffering a price decrease of nearly 20% in the last 7 days, over 80% of $OP holders remain in profit.
🔗https://t.co/lmTUjhZFx4 pic.twitter.com/3hlFNbG95b— IntoTheBlock (@intotheblock) January 24, 2024
With over 89% of holders remaining profitable despite the major retracement, Optimism retains substantial market depth, according to data from IntoTheBlock.
While challenges persist in current conditions, OP’s ability to rebound off its recent low highlights its resilience. As the price looks to overcome immediate resistance, Optimism warrants consideration as investors seek crypto with recovery potential after steep sell-offs.
For investors focused on new cryptocurrencies, projects like Bitcoin Minetrix and Meme Kombat have been gaining traction in their presale phases. Their developments have intrigued many looking for the best crypto to buy now and other early investment opportunities in the perpetually shifting crypto industry.
CHZ Bulls Gain Momentum: Sets New 7-Month High
The CHZ price has shown bullish momentum in recent days, bouncing back from consolidation to post gains. After ranging sideways for a week and forming an ascending triangle pattern, the CHZ price broke out to the upside yesterday with a 10.97% surge. CHZ built on this momentum today, setting a new 7-month high of $0.11637 earlier in the session.
However, it appears selling pressure is substantial around immediate resistance levels. The CHZ price has pulled back from its intraday peak and is currently trading at $0.11001, although still up 2.13% so far today.
The 20-day EMA for the CHZ price stands at $0.09473 while the 50-day EMA is at $0.08817. With the short-term EMA above the long-term EMA, this signals a bullish trend in motion. The widening gap between the EMAs shows buying momentum is accelerating for CHZ.
The RSI has climbed to 62.75 from yesterday’s 61.55. This shows growing strength behind the uptrend as the CHZ price leaves oversold territory. The MACD histogram has also increased to 0.00170 from 0.00140, reflecting building bullish momentum.
The CHZ price currently faces immediate resistance between $0.10836 and $0.11186. CHZ initially surged above this zone to its new 7-month high but heavy selling pressure has since forced the price back below resistance.
On the downside, initial support lies between $0.10456 and $0.10582. Below this, the CHZ price has further horizontal support from $0.10195 to $0.10341. This zone aligns with the Fib 0.236 level at $0.10193, making it a critical support area to watch.
With technicals signaling growing upward momentum but the CHZ price struggling to overcome resistance, the coin appears positioned for a breakout. A sustained move above $0.112 could see CHZ extend towards its next resistance around $0.125.
Alternatively, rejection here risks a pullback towards the key support zone around $0.102. Traders may look to enter on a confirmed break above or below these levels.
CFX Price Breakout: Positive Signals Point to Upside Potential
The CFX price has shown promising signs of upward momentum in recent trading after consolidating between $0.1624 and $0.2361 for almost two months. With today’s 18.83% gain so far, the CFX price looks set to challenge crucial resistance levels that could determine its next major move.
Technical indicators paint an increasingly bullish picture for the CFX price after crossing into overbought territory. The RSI has surged to 63.27, up sharply from yesterday’s 50.27 reading. This shows growing positive momentum. Meanwhile, the MACD histogram has turned positive at 0.0016, crossing above the prior day’s -0.0010 reading. This crossover often precedes further upside.
As the CFX price pushes further past the $0.22 level, it faces immediate upside barriers. This includes the Fib 0.382 and 0.236 levels of $0.1968 and $0.2095, along with the current swing high resistance between $0.2218 and $0.2301 where the price is trading around currently. Clearing these levels could pave the way for an impulsive move up to the next resistance at $0.2407 to $0.2484.
On the downside, initial support lies at the 20-day EMA of $0.1906 and the 50-day EMA of $0.1853. However, with today’s bullish price action, the Fib 0.382 and 0.236 levels of $0.1968 and $0.2095 could turn into new support zones.
With the CFX price breaking out of its trading range, bulls seem to be regaining control. Sustained trading above $0.22 resistance would confirm the uptrend and open the door for a retest of $0.24. Cautious traders may wait for a pullback to the $0.20 area to get on board.
Op Price Prediction: Steady Recovery After Major Retracement
The OP price appears to be gaining positive momentum after finding support around the key Fib 0.618 level of $2.889. This comes after a steep 39.05% retracement between January 12 and January 23. With three consecutive days of gains so far, the OP price looks to take on nearby resistance to continue the recovery.
Looking at technical indicators, the OP price has room for further upside. The RSI has climbed to 45.11 from yesterday’s 41.99 reading, showing growing bullish momentum. Meanwhile, the MACD histogram has become less negative at -0.089, up from -0.109 the previous day.
As the OP price pushes further above $3, it faces immediate resistance at the 50-day EMA of $3.029 followed by the horizontal resistance zone of $3.094 to $3.170 which is also in confluence with the Fib 0.5 level of $3.136. Clearing these levels could open the door for a move toward the 20-day EMA of $3.217.
On the downside, initial support lies at the horizontal zone between $2.793 and $2.887 which aligns with the Fib 0.618 level of $2.889. This area has held up well on recent declines.
With the OP price breaking its short-term downtrend, bullish momentum seems to be building. Sustained trading above the $3.136 resistance would confirm the emerging uptrend. Conservative traders may prefer to wait for a pullback towards $2.889 support before entering new bullish positions.
Major cryptocurrencies aren’t the only ones making moves – fresh crypto players are also vying for attention. Bitcoin Minetrix and Meme Kombat have used tactics like giveaways and gameplay to drive presale interest as their public launches approach.
The Best Crypto to Buy Now: Exploring Promising Bitcoin Alternatives
With Bitcoin’s dominance as the pioneering cryptocurrency, it’s easy to focus solely on it when exploring the cryptocurrency domain. However, limiting your crypto portfolio to Bitcoin alone means missing out on the huge potential of up-and-coming Bitcoin alternatives looking to make their mark.
Getting in early on presale events for new cryptocurrencies gives investors the chance to buy tokens at reduced prices before they become publicly available. Bitcoin alternatives like Bitcoin Minetrix and Meme Kombat have seen considerable presale interest from investors attracted to the prospects of major returns if these projects gain momentum post-launch.
Presales for cryptocurrencies typically provide incentives like discounted token prices, bonus token allotments, and exclusive prize contests to entice early participants.
For example, Bitcoin Minetrix is organizing a $30,000 giveaway with prizes shared between 10 winners who will get $3,000 in BTCMTX tokens each – amassing over 40,000 participants to date with 157 days left. Ventures like this highlight the inventive tactics some new cryptocurrencies employ to create excitement during their presale stage.
For crypto enthusiasts, doing thorough research and keeping a diverse investment portfolio is critical to successfully maneuver the constantly changing cryptocurrency market with opportunities. This is especially important when evaluating the best crypto to buy now and considering other Bitcoin alternatives striving to redefine finance.
Bitcoin Minetrix Makes Bitcoin Cloud Mining Accessible – Is It the Best Crypto to Buy Now?
A new cryptocurrency project called Bitcoin Minetrix has raised over $9.5 million in a presale, leading some in the industry to draw comparisons with Bitcoin’s early days.
Bitcoin Minetrix seeks to make Bitcoin mining accessible to regular crypto users through an Ethereum-based cloud mining platform that requires no expensive hardware or technical expertise.
The ongoing presale allows early investors to purchase the $BTCMTX token for $0.0131, with the price set to incrementally rise as the sale continues. Presale participants can stake their tokens to compound returns before the upcoming public launch.
Exploring the advantages of #BitcoinMinetrix:
🌐 Convenient access made easy.
💲 Enhanced efficiency with a streamlined cost structure.
🔄 Enjoy peace of mind, free from concerns about resale value.Knowing the benefits is key! 🚀 #BitcoinMining #MiningEfficiency pic.twitter.com/tBCVjFELBO
— Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
As an ERC-20 token, $BTCMTX can be purchased during the presale using an Ethereum-compatible wallet like MetaMask and either ETH or USDT.
Bitcoin Minetrix is designed to address key barriers to entry in Bitcoin mining like high electricity costs, specialized hardware needs, and required technical skills. The platform lets users stake $BTCMTX tokens to receive Bitcoin mining credits that are redeemed on the platform for actual Bitcoin rewards. This cloud mining process requires no hardware or expertise.
With mining increasingly centralized among corporations, Bitcoin Minetrix offers a decentralized alternative accessible to all. The project’s whitepaper stresses security guarantees that protect users from cloud mining scams targeting competitor platforms.
Bitcoin Minetrix is well-positioned to benefit from Bitcoin’s next halving, which has historically preceded major bull runs. Though still in its early stages, the project shows similarities to past crypto successes like Stacks and Ordinals, both of which have recently outperformed Bitcoin.
Of the 4 billion total token supply, 42.5% is allocated to mining rewards. With accessible mining and no upfront costs, Bitcoin Minetrix could be one of the best cryptos to buy now.
$MK Presale May Provide the Best Crypto to Buy Now Amid the Latest Meme Coin Frenzy
Despite recent sideways consolidation, cryptocurrencies remain attractive to investors seeking the next breakout meme coin like Dogecoin or Shiba Inu. The latest meme coin presale gaining traction comes from Meme Kombat, a new play-to-earn blockchain game featuring popular meme characters battling it out in the arena.
Meme Kombat’s native token, $MK, has already raised over $7.47 million in its ongoing presale, capturing the interest of meme coin enthusiasts. With each token priced at $0.279, the presale is nearing its $8 million goal before the final hard cap of $10 million.
$MK numbers that make us go 🤩
➡️ 8500+ memebers in TG
➡️ 1400+ memebers in Discord
➡️ 30 million+ $MK staked
➡️ 80% $MK staked
➡️ 6.4 million+ $MK paid in rewards
➡️ 10k+ $MK stakers
➡️ Just under 50 Beta Testers
➡️ Countless memes pic.twitter.com/GUNpbFoRPh— Meme Kombat (@Meme_Kombat) January 26, 2024
As a web3 game, Meme Kombat offers users a unique betting experience on AI-powered battles between their favorite memes. Players can bet on matches, with outcomes determined by sophisticated algorithms to ensure fair results. An entire gameplay ecosystem fueled by the $MK token provides staking rewards of up to 125% APY for holding the token.
The roadmap outlines plans for the Season 1 launch featuring 11 playable characters, followed by a Season 2 release with new characters and modes. Long-term goals are to expand the platform’s features and partnership potential.
With 80% of the circulating supply already staked and a growing community, the $MK token has quickly gained attention as a potential top performer among new meme coins launching this year.
As seasoned crypto investors know, meme coins tend to be highly speculative. However, for enthusiasts of the niche, Meme Kombat offers a unique twist with its focus on gaming and staking rewards. With the presale nearing completion, it appears $MK has resonated with its target demographic.
With a stand-out use case and presale momentum propelling it to prominence, $MK has become a leading contender for the best crypto to buy now, aided by Meme Kombat’s presale success reinforcing ongoing meme coin demand.
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.
