The Down Market: Opportunities and Best Cryptos to Buy Now
The current down market presents two opportunities for investors: identifying resilient assets and buying the dip. Today’s market performance is in stark contrast to our previous update on the best crypto to buy now. Most tokens are experiencing a downturn. Here’s a quick overview of today’s market performance:
– Global coin market cap is up to $1.21T, with a 17.63% increase in trading volume in the last 24 hours.
– DeFi continues to attract investors, constituting 7.18% of trading volume with a value of $2.54 billion.
– Bitcoin records a 0.31% increase and maintains dominance with a 49.96% rating.
Now let’s dive into the best cryptos to buy now:
1. Bitcoin Cash (BCH)
– BCH is on the rise with increasing price and trading volume.
– In the last 30 days, BCH’s price has surged by close to 170%.
– The price of BCH is influenced by the performance of BTC, and there are speculations about the Blackrock ETC proposal.
– RSI (14) of BCH is currently at 74, indicating oversold conditions.
– BCH is one of the best cryptos to buy now, considering its potential for a rally.
2. Ethereum (ETH)
– ETH is bouncing back after a minor dip, signaling a potential bull run.
– Recent developments in the Ethereum blockchain and upcoming upgrades suggest a positive effect on the price of ETH.
– Long-term strategy is recommended due to the expected uptrend in the latter part of the year.
3. Maker (MKR)
– MKR is trading sideways but has shown resistance and potential for an upward trend.
– Hold the token for medium-term hedging as it faces resistance at the $2k zone.
– Maker is expanding its lending platform, the Spark Protocol, into other chains.
4. Solana (SOL)
– SOL is reaching its highest price in 7 days after a brief dip.
– Analysts predict further upward movement with little resistance.
– Consider buying SOL as it continues its uptrend.
5. Ecoterra (ECOTERRA)
– ECOTERRA’s presale is ongoing, addressing environmental waste management.
– The project aims to involve everyone in recycling initiatives through $ECOTERRA tokens.
In conclusion, the down market provides opportunities to spot resilient assets and buy the dip. Bitcoin Cash, Ethereum, Maker, Solana, and Ecoterra are among the best cryptos to buy now, considering their performance, potential rallies, and unique features.
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