As investors and traders eagerly await Federal Reserve results First FOMC meeting for the yearMost analysts expect Chairman Jerome Powell to announce an interest rate hike of 25 basis points.
His subsequent press conference is expected to have a cascading effect across financial and risk asset markets, including cryptocurrencies, with market participants looking for guidance on the Fed’s longer-term plans. With this background in mind, what are the best cryptos to buy today?
Although usually bitcoin, ethereum, and other digital assets have been remarkably volatile due to rising interest rates, at this time the crypto market has remained relatively stable. After reaching a high of $24,000 over the weekend – its highest price in five months – the bitcoin price finally fell to a multi-day low of $22,400 on Monday.
At the time of writing, bitcoin is hovering around $23k; This signals that investors have maintained their confidence in the cryptocurrency despite any short-term volatility.
It is still too early to determine the long-term impact of interest rate hikes on the cryptocurrency market. However, market participants are advised to keep a close watch on the developments in the coming hours and days.
historical connection between FOMC events and Bitcoin This indicates the potential for increased volatility in the crypto market, making it important for all players to stay informed and prepared for any potential changes. Nevertheless, there are still excellent investment opportunities available.
Based on technical and fundamental analysis, these five cryptocurrencies are considered to be some of the best cryptos for investors to buy today: MEMAG, DYDX, FGHT, FTM, and CCHG.
Mobile gamers are in for a treat as the progressive Meta Masters guild prepares to launch its Web3 gaming guild. This gaming network will serve as a medium to connect gamers across many different mobile games, establishing a trans-game economy that revolves around a single metaverse community and cryptocurrency, MEMAG. MMG is looking to innovate within the Web3 gaming space to create an exceptional, player-initiated gaming ecosystem.
MMG’s mission is to build a decentralized gaming community that fosters interaction, commerce and teamwork through the use of state-of-the-art Web3 technology and games built for players – with integrated featured games NFT (Nonfungible Token) Plus crypto rewards.
As well as having a voice in determining certain elements of the game world, players will benefit from their talents and contributions by earning the MEMAG cryptocurrency.
In addition, the transparent economy system will allow gamers to exchange Gem rewards earned within the game for crypto rewards or NFT-based items, real money representing in-game assets usable across MMG titles. Or convert into NFT.
To kick start the Meta Masters Guild ecosystem, MMG is launching Meta Kart Racers – an exciting racing game that players can experience on any mobile device. The platform and partners are also creating a host of other intriguing Web3 games set to launch in the near future as well.
Meanwhile, the MEMAG token presale has been a huge success so far, as traders have invested $2.37 million, giving the platform a good chance of a successful launch and making it one of the best cryptos to buy today. Is.
Visit the Meta Masters Guild now
DYDX (DYDX)
DYdX exchange token, DYDX, is making headlines in the crypto world as it has seen a remarkable increase of almost 30% from yesterday’s candle close, outpacing the gains made by both Bitcoin and Ethereum as well as most other altcoins. The increase in DYDX price can be attributed to the recent issuance of a governance token for its Layer 2 protocol on the blockchain by the dYdX Foundation.
On August 3, 2021, dYdX launched an initial supply of 1 billion tokens that will be accessible over the course of five years. This allocation was strategically positioned to guarantee an equitable distribution among the members of their ecosystem.
DYDX Trading Inc. and the Foundation have allocated 27.7% of their tokens to past investors, and 15.3% to founders, employees and advisors of both organizations, with 7% set aside for potential future employees and advisors associated with both entities. Is placed. ,
The issuance of governance tokens is an important development as it enables a community-governed protocol and aligns incentives between traders, liquidity providers and partners. This has created a buzz in the DeFi community and has pushed up the price of DYDX.
Plotting the Fibonacci retracement levels on DYDX’s most recent highs and lows reveals potential levels that could act as support for the cryptocurrency. DYDX price is currently trading below the FIB 0.236 level of $2.953 at $3.065 with a loss of -4.90% for the day. If FIB 0.236 does not hold, the next potential support is the $2.532 to $2.608 support range at the confluence of FIB 0.382.
The immediate resistance is at the $3.221 to $3.306 resistance level. If DYDX price manages to claim this level and move higher in the coming days, the next possible target for this cryptocurrency is the psychological level of $4 for an additional 21% move.
Fight Out (FGHT) A fit for fitness masses
Fight Out is rising to the challenge of unhealthy lifestyles with its innovative fitness app and soon-to-open gym chain. The web3 based platform provides personalized workout programs for each user while fostering a supportive network. The initiative seeks to help users stay fit, have some fun and earn rewards all at the same time.
For users determined to meet their fitness objectives with the M2E app, CoinSniper offers REPS tokens as a reward. Not only is it an effective motivator, but it also allows users to make money while adopting healthy habits. Behind the development of this app is a team of highly experienced professionals verified by Coin Sniper, making Coin one of the best cryptos to buy today.
Fight Out seeks to offer a high-tech, community-oriented gym experience that includes interactive elements such as “mirrors” for personalized fitness instruction and user profiles displayed on sensors.
To make the project even more attractive, Fight Out has enlisted Amanda Ribas of UFC fame and former WBO middleweight champion Savannah Marshall as brand ambassadors. Their ambassadors will present content on the platform as well as teach master classes and lead other fitness programs.
Now is the perfect opportunity to join Fight Out’s presale event and secure up to a 50% bonus on investments over $50K. With over $3.75 million already raised, the pre-sale will soon raise prices as it enters its next phase, making it one of the best cryptos to buy today.
Phantom (FTM)
Phantom, the digital platform known for its fast and versatile services for digital content has been making headlines recently for its impressive growth. January has seen a 168.57% increase in the coin’s value, with a closing price of around $0.5366 at the end of the month.
So what is driving the current boom in Phantom prices? Taking a closer look at technical indicators provides some insight.
The technical indicators from Phantom currently suggest a bullish trend for the cryptocurrency. The 20-day, 50-day, 100-day and 200-day exponential moving averages (EMAs) for the coin are trending upward with values of $0.4067, $0.3253, $0.2887 and $0.3527 respectively. This indicates that the overall trend for the coin is upwards.
Relative Strength Index (RSI) is another technical indicator that suggests a bullish trend for the coin. The current RSI stands at 70.67, with a reading of 77.04 on the previous day, which is considered in the overbought zone. This supports the bullish outlook for the cryptocurrency.
The Moving Average Convergence Divergence (MACD) histogram also supports the bullish trend for the coin, with the current reading of 0.0109 and the previous day’s reading of 0.0128. The MACD is a momentum indicator that can determine whether the asset is trending, and a positive MACD histogram confirms the bullish trend for the Phantom.
In terms of volume, Phantom is currently trading with a volume of 92.275 Million and a moving average of 171.195 Million. The previous day’s volume was 285.996 million, providing further insight into the level of trading activity for the coin.
The previous close for the coin was $0.5366, and it saw a price movement of 11.24% over the past day. The current price is $0.5094 with a price movement of -5.05%, and the immediate resistance lies between $0.6502 and $0.6823, while the immediate potential support lies between $0.4416 and $0.4498.
The recent increase in the price of Phantom is believed to be the result of various factors including the development of the coin and positive technical indicators.
Echo App C+Charge (CCHG) One of the Best Crypto to Buy Today
Get ready for an unprecedented evolution for the electric vehicle (EV) charging industry coming with C+Charge’s innovative peer-to-peer payment platform and rewards program. Thanks to blockchain technology and major partnerships, EV owners will soon be able to locate and safely get to charging stations Carbon Credit Crypto as an incentive.
To take advantage of the token offering, investors can now buy CCHG tokens at $0.013 USDT before the price eventually rises in three steps to a final cost of $0.02350. So far, the ambitious project has raised over half a million dollars and is well on its way to raising enough funds to successfully launch its app.
