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As investors and traders eagerly await the Federal Reserve’s outcome first FOMC meeting of the yearmost analysts expect Chairman Jerome Powell to announce a 25 basis point interest rate hike.
His subsequent press conference is expected to have broad repercussions for financial and risk asset markets, including cryptocurrency, as market participants seek guidance on the Fed’s longer-term plans. With this background in mind, what are the best cryptos to buy today?
Although generally Bitcoin, Etherum, and other digital assets are noticeably volatile leading to interest rate hikes, the crypto market has remained relatively stable this time around. After hitting a high of $24,000 over the weekend — the highest price in five months — Bitcoin’s price finally fell to a multi-day low of $22,400 on Monday.
At the time of writing, Bitcoin is hovering around $23,000; indicating that investors have maintained their confidence in cryptocurrencies despite any short-term volatility.
It is still too early to determine the long-term impact of rising interest rates on the cryptocurrency market. However, market participants are advised to closely monitor the developments in the hours and days to come.
Historical correlations between FOMC events and Bitcoin indicate the possibility of increased volatility in the crypto market, making it vital for all players to stay informed and prepared for any potential changes. Nevertheless, there are still great investment opportunities.
Based on technical and fundamental analysis, these five cryptocurrencies are considered to be among the best cryptos for investors to buy today: MEMAG, DYDX, FGHT, FTM, and CCHG.
Meta Masters Guild (MEMAG) Building a Community and Bringing Players to Web3
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 means to connect players of several different mobile games, establishing a cross-gaming economy that revolves around a single metaverse community and cryptocurrency, MEMAG. MMG seeks to innovate in the Web3 gaming space to create an exceptional player-initiated gaming ecosystem.
MMG’s mission is to create a decentralized gaming community that fosters interaction, commerce, and teamwork through the use of cutting-edge Web3 technology and games designed for gamers – with games incorporating NFT (non-fungible tokens) as well as crypto rewards.
Players will benefit from their talents and contributions by earning MEMAG cryptocurrency, while having a voice in determining certain elements of the gaming world.
Additionally, the transparent economy system will allow players to exchange Gem rewards earned in games or NFT-based items for crypto rewards that can be converted into real money or NFT representing game assets usable in games. MMG titles.
To launch the Meta Masters Guild ecosystem, MMG is launching Meta Kart Racers, an electrifying racing game that players can experience on any mobile device. The platform and its partners are also cooking up several other intriguing Web3 games which are also expected to launch in the near future.
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.
dYdX (DYDX)
The dYdX exchange token, DYDX, has been making headlines in the crypto world as it saw a remarkable surge of nearly 30% from yesterday’s candle close, outpacing gains made at both Bitcoin and Ethereum as well as most other altcoins. The increase in the price of DYDX can be attributed to the recent issuance of governance tokens by the dYdX Foundation for its layer 2 protocol on the blockchain.
On August 3, 2021, dYdX launched an initial offering of 1 billion tokens which is expected to become accessible over the course of five years. This allocation has been strategically deployed to ensure fair distribution among members of their ecosystem.
dYdX Trading Inc. and the Foundation have allocated 27.7% of their tokens to previous investors and 15.3% to the founders, employees and advisors of the two organizations, with 7% reserved for potential future employees and consultants associated with the two combined entities. . .
The issuance of governance tokens is an important development as it enables a community-governed protocol and aligns incentives between merchants, liquidity providers, and partners. This created a buzz in the DeFi community and drove up the price of DYDX.
Plotting Fibonacci retracement levels on DYDX’s most recent swing reveals potential levels that can serve as support for the cryptocurrency. DYDX price is currently trading below the FIB 0.236 level from $2.953 to $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-$2.608 support range confluent with FIB 0.382.
Immediate resistance is the $3.221-$3.306 resistance level. If the price of DYDX manages to claim this level and move higher in the next few days, the next potential target for this cryptocurrency is the psychological level of $4 for a further 21% move.
Fight Out (FGHT) a fit for the fitness masses
Fight Out is taking on the challenge of unhealthy lifestyles with its innovative fitness app and soon-to-open gym channel. The Web3-based platform provides individualized training programs for each user while fostering a support network. This initiative aims to help users stay fit, have fun and earn rewards simultaneously.
For users determined to achieve their fitness goals with the M2E app, CoinSniper is offering REPS tokens as a reward. Not only is it an effective motivator, but it also allows users to earn money while adopting healthy habits. Behind the development of this app is a team of highly experienced professionals verified by Coin Sniper, making the coin one of the best cryptos to buy today.
Fight Out seeks to provide a community-driven, high-tech gym experience that includes interactive elements, such as user profiles displayed on “mirrors” and sensors for personalized fitness instruction.
To make the project even more appealing, Fight Out enlisted Amanda Ribas of UFC fame and former WBO middleweight champion Savannah Marshall as brand ambassadors. Their ambassadors will offer content on the platform as well as masterclasses and host other fitness events.
Now is the perfect opportunity to join the Fight Out pre-sale event and get up to 50% bonus on investments over $50,000. With over $3.75 million already invested, the presale will soon increase prices as it enters its next phase, making it one of the best cryptos to buy today.
Ghost (FTM)
Fantom, a digital platform known for its fast and versatile services for digital content, has recently made headlines for its impressive growth. The coin saw its value increase by 168.57% in January, ending the month with a closing price of around $0.5366.
So what’s driving the current Fantom price spike? A closer look at the technical indicators provides insight.
Technical indicators from Fantom 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 upwards, with values of $0.4067, $0.3253, $0.2887, and 0. $3527 respectively. This indicates that the overall trend of the coin is on an upward trajectory.
The Relative Strength Index (RSI) is another technical indicator that suggests a bullish trend for the coin. The current RSI stands at 70.67, with yesterday’s reading of 77.04, which is considered overbought territory. This further bolsters the bullish outlook for the cryptocurrency.
The Moving Average Convergence Divergence (MACD) histogram also supports the bullish trend of the coin, with a current reading of 0.0109 and a previous day’s reading of 0.0128. The MACD is a momentum indicator that can determine if an asset is trending, and a positive MACD histogram confirms Fantom’s uptrend.
In terms of volume, Fantom is currently trading with a volume of 92.275 million and a volume moving average of 171.195 million. The previous day’s volume was 285.996 million, which gives further insight into the level of trading activity in the coin.
The previous close of the coin was at $0.5366 and it recorded a price movement of 11.24% the previous day. The current price is at $0.5094, with a -5.05% price movement, and the immediate resistance level lies between $0.6502 and $0.6823, while the immediate potential support lies between $0.4416 and $0.4498.
Fantom’s recent price increase is believed to be the result of various factors, including the growth of the coin and positive technical indicators.
Eco App C+Charge (CCHG) One of the Best Cryptos to Buy Today
Get ready for a game-changing evolution for the electric vehicle (EV) charging industry, with C+Charge’s innovative peer-to-peer payment platform and rewards program. Thanks to blockchain technology and key partnerships, electric vehicle owners will soon be able to easily locate and safely access charging stations while receiving crypto carbon credit as an incentive.
To take advantage of the token offer, investors can now buy CCHG tokens at 0.013 USDT in the first stage of the presale before prices finally reach a final cost of $0.02350 in three stages. So far, this ambitious project has raised over half a million dollars and is on track to raise enough funds to successfully launch its app.
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