The cryptocurrency market, like most markets, has been tumultuous of late, with fluctuations affecting Bitcoin and other popular digital currencies. However, there are signs that the value of Bitcoin could rise sharply in the near future. With that in mind, what are the best cryptocurrencies to buy today?
The main reason for the volatility is the current economic downturn and turmoil in the global financial system. As a result, the US Federal Reserve may have to ease the interest rate hike, which could make cryptocurrencies an attractive investment option.
Credit Suisse shares also rose more than 20% following the recent aid announcement from the Swiss National Bank. Credit Suisse has announced that it will borrow up to $54.000 billion from the Swiss National Bank.
The decision to seek support from the Swiss National Bank comes after the collapses of Silicon Valley Bank and Signature Bank in the United States, which had a major impact on the financial sector, including Credit Suisse.
In light of these developments, the support of the Swiss National Bank should provide Credit Suisse with the necessary resources to face its financial difficulties and safeguard the interests of its investors.
Despite some recent setbacks in the financial market, there are reasons to believe that Bitcoin could experience a significant price increase in the near future. After seeing some resistance in the €25,000-€26,000 range over the past two days, yesterday's trading activity provided evidence of significant buying pressure around the €24,000 level.
Bitcoin is currently trading in the upper range of €24 to €000, marking a significant increase from its low of €26 on March 500. Also, the Bitcoin price is above all major EMAs and the RSI is at neutral levels.
These positive indicators suggest that Bitcoin's current trend is healthy and may continue to rise. However, it is crucial that Bitcoin convincingly breaks the important resistance at €25,000 to continue its rally.
With recent volatility and macroeconomic developments in the cryptocurrency market, investors need to exercise caution and carefully evaluate their investment options. To make informed decisions, fundamental and technical analysis are recommended.
If you are looking to invest in cryptocurrencies, some of the best cryptocurrencies to buy today include GMX, LHINU, IMX, FGHT, AGIX, and TARO.
GMX.IO (GMX)
Despite the recent market pullback, GMX.IO (GMX) has made impressive gains. On Wednesday, the coin closed up 5,18% and today it attempted to break the 0,786 Fib resistance level at €81 and hit an intraday high of €85. However, GMX has been under some selling pressure around these levels, causing the price to drop to €76,82, resulting in a loss of 2,97% so far.
GMX trading volume has increased significantly, indicating an increase in network activity. According to CoinMarketCap, the volume is currently at €308.249.412, an increase of 246,56% in the last 24 hours.
Historical data from GMX reveals that the token closed at €41,57 in 2022 and has since doubled in price. Despite some setbacks, it continued to rise above €50 and maintain that momentum.
Immediate resistance for GMX is currently at the €81 0.786 Fibonacci level, where it saw some price rejection yesterday and today. If today's downtrend continues, potential support can be found at the 0.618 €75 Fib level, followed by the €20 71 day EMA, confluent with the 0.5 Fib.
Love Hate Inu presents a blockchain-based voting platform with cryptographic rewards
Love Hate Inu (LHINU) is launching a new blockchain-based voting mechanism that allows users to vote without revealing their identity on political, social and entertainment issues, while offering them incentives in the form of digital currency using the "Vote-to -Win". ".
The LHINU platform, built on the Ethereum blockchain, has gained a large following on social media with its interesting character illustrations.
LHINU tokens can be purchased in either fiat or cryptocurrency, and the token pre-sale is currently ongoing. LHINU has divided the pre-sale process into seven-day stages, with the value of the tokens increasing gradually.
At the primary stage, 90% of the tokens will be distributed to supporters of the project, and the remaining 10% will be allocated to cryptocurrency exchange listings. The pre-sale has raised over €854,000 so far, with a goal of €956,250.
LHINU's voting system aims to encourage open conversations on the latest important topics, while ensuring the security and transparency of the voting process. The application of distributed ledger technology ensures that the blockchain-based voting process maintains an impartial and unalterable system.
Recent updates to LHINU's voting system aim to improve the user experience by providing more accessible and simplified voting procedures and enhanced security measures. These changes ensure that the platform remains reliable for users to express their opinions on various topics.
Overall, the LHINU blockchain voting platform is a unique addition to the world of cryptocurrencies, making it one of the best cryptocurrencies to buy today.
Visit Love Hate Inu now