Bitcoin’s recent surge around the $65,000 mark has set the stage for a potential climb towards $71,500, based on historical patterns. Given that, we’d be examining best crypto to buy today.
This price rebound has spurred significant interest among futures traders speculating on Bitcoin’s short-term movements.
At press time, Bitcoin trades at $64,824, representing a 1.49% increase over the past 24 hours.
Moreover, this renewed interest in Bitcoin has led to an influx of capital, with BlackRock’s iShares Bitcoin Trust accumulating $260 million from investors on July 16, contributing more than half of all net inflows into spot Bitcoin ETFs yesterday.
This marked the eighth consecutive day of positive net inflows for U.S. spot Bitcoin ETFs, reaching $422.5 million, the best-performing day since June 5, according to Farside Investors.
Bitcoin’s bulls are striving to push the price above the $64,602 resistance. If successful, the BTC/USDT pair could gain momentum toward the $72,000 to $73,777 resistance zone.
#BTC
The moment Bitcoin breaks $65,000 (blue) is the moment Bitcoin will form a new red cluster of price action
Breaking $65,000 would mean price would be ready to move inside the $65,000-$71,500 region$BTC #Crypto #Bitcoin https://t.co/yxOhRsmVU9 pic.twitter.com/TZMP37ufjx
— Rekt Capital (@rektcapital) July 16, 2024
Meanwhile, Ethereum (ETH) has been range-bound between $2,850 and $4,094 for several months, with traders typically buying near support and selling near resistance.
The bears’ inability to drive the price below $2,850 has initiated a move towards the $4,094 resistance.
Bears may attempt to halt the recovery at the 50-day SMA ($3,469), but if bulls maintain their position, the uptrend is likely to continue.
Overall, the current market dynamics, driven by Bitcoin’s recovering performance and fresh ETF inflows, create a favorable environment for altcoins.
Investors looking for opportunities beyond Bitcoin and Ethereum might find promising alternatives among the altcoins reviewed below.
$XRP (Ripple)
$XRP is a leading cryptocurrency designed to facilitate cross-border payments with lower fees and faster transaction times than traditional banking systems.
At the time of writing, $XRP is trading at $0.629, reflecting a 12.26% increase over the past 24 hours, supported by a substantial trading volume of $3.7 billion within the same period.
Despite its recent performance, $XRP is trading 83.9% below its all-time high (ATH) of $3.84, achieved in January 2018.
The $XRP token’s relative strength index (RSI) currently stands at 73.54, indicating overbought conditions.
Recent market trends and news, such as Ripple’s transfer of 150 million $XRP to an unknown walle amid the SEC settlement rumors, might have influenced the token’s price action.
BREAKING: 150,000,000 #XRP (approximately $87.5 million) has been transferred from Ripple to unknown wallet!
Is this a sign of a potential settlement in the ongoing SEC vs. @Ripple lawsuit?
pic.twitter.com/cufYWrAnf9
— JackTheRippler © (@RippleXrpie) July 16, 2024
Arweave ($AR)
Arweave is a decentralized storage network that offers permanent and sustainable data storage. The $AR token is used to pay for storage and incentivize miners.
Arweave recently announced a partnership with Solana to offer a decentralized, permanent data storage solution for ledger data. This collaboration would ensure that ledger data remains retrievable when needed.
The $AR token stands out as the best crypto to buy and has recorded a 14.15% increase over the past 24 hours and currently trades at $31.85, 64.98%, away from its ATH of 90.94.
$AR breakout
Looking bullish. https://t.co/qKMxDJKjfq pic.twitter.com/3FMGY8Cok1
— Rendoshi Research
(@Rendoshi1) July 17, 2024
Arweave’s RSI has jumped from RSI of 73.04 to 80.11, solidifying its overbought range.
This means that investors might have to wait for a retrace before bidding on the next leg-up.
Bittensor ($TAO)
Bittensor is a blockchain-based machine-learning (ML) network that rewards participants for creating and maintaining high-quality ML models.
The $TAO token is used for staking, governance, and transaction fees within the ecosystem.
At press time, $TAO is trading at $309.82, reflecting a 5.52% increase over the past day.
The $TAO token looks like a good addition to portfolios of Investors looking to capitalize on the AI market in the impending market pump and catches attention as best crypto to buy.
$TAO 1W
Finally seeing some relief as we’re up over 50% from the lows. This is one of the several AI tokens I saw down 50%, bought more spot, & it went down another 50%.
Still holding spot from $110 area.
RSI showing a full reset as well.#bitcoin #cryptocurrency pic.twitter.com/cLmnJodOOF
— Roman (@Roman_Trading) July 17, 2024
The token has a market cap of $2.3 billion and trades 59.65% below its all-time high of $767.68 (ATH).
Crypto Presales Present the Best Alternatives
While the aforementioned crypto assets are some of the best to buy now due to their price action, investors seeking opportunities with lower entry points may find crypto presales attractive.
Presales, also known as initial coin offerings, are initiated by teams to build hype and attract investment before official exchange listings. Many of the popular cryptocurrencies started out with a presale.
There are many reasons to buy a presale token. Firstly, presale tokens are offered at significantly lower prices than their expected launch prices.
Secondly, by building hype around the product, developers can attract customers early, increasing its potential for growth.
However, these presales carry inherent risks. So it’s important to find projects that are genuine with real use cases.
With this in mind, analysts at CryptoNews have identified and curated a list of presale tokens with meaningful use cases with potential for returns.
14 Best Crypto Presales to Invest In Now
The post Best Crypto to Buy Now July 17 – XRP, Arweave, Bittensor appeared first on Cryptonews.