By Bonk, Optimism, and Arbitrum rise as leading options for best crypto to buy now amid January’s crypto rebound. Image by cryptonews.com.
The new year is sparking renewed momentum for the crypto market, with projects like Bonk, Optimism, and Arbitrum rising as top contenders for the best crypto to buy now.
The Bonk price has surged over 37% so far this week following its listing on OKX.
The meme coin is currently trading at $0.0000142, riding positive sentiment higher after a 70% decline between December 15 to January 7.
Optimism also continues gaining, with Binance announcing support for the project’s upcoming Bedrock network upgrade on January 12.
The upgrade seeks to enhance Optimism’s transaction speeds as a Layer 2 Ethereum solution.
Additionally, Arbitrum has climbed over 77% in the last month alongside improving on-chain metrics.
While established tokens are seeing renewed interest, crypto presales like Sponge V2 Token and Bitcoin Minetrix offer investors alternatives to diversify portfolios beyond mainstay coins.
These nascent projects are generating buzz, suggesting potential as future top contenders for the best crypto to buy now.
Best Crypto to Buy Now In the News
The price of Bonk (BONK) has surged over 37% this week following its listing on the OKX exchange on January 8.
BONK is currently trading at $0.0000142, up substantially from $0.00000934 just a few days ago.
The meme coin’s newfound support and increased trading volume signal strong buying interest that could propel BONK to $0.000025 in the short term.
The coin had previously declined over 70% from its December peak, but its latest rebound has turned sentiment positive again.
However, there is caution that the volatility leaves open the possibility of a plunge back towards $0.00001 if the uptrend stalls.
For the time being, momentum remains on the side of the bulls, with the bullish alignment of key moving averages set to potentially lure in additional buyers.
Binance has disclosed its support for the upcoming network upgrade and hard fork of the Optimism (OP) network.
— TheCryptoBasic (@thecryptobasic) January 10, 2024
Binance announced earlier today its support for an upcoming upgrade and hard fork of the Optimism network.
While deposits and withdrawals of the Optimism token (OP) will be temporarily suspended during the Bedrock upgrade on January 12, the trading of OP will continue uninterrupted.
The upgrade seeks to enhance Optimism’s transaction speeds and reduce costs as a Layer 2 scaling solution for Ethereum.
According to Binance, it will handle all technical requirements for OP holders, allowing users to benefit from an improved Optimism network.
The exchange’s move reinforces the importance of Layer 2 solutions for mainstream blockchain adoption.
With Binance facilitating the transition, the OP token price is likely to remain unaffected during this strategically important network upgrade.
The price of Arbitrum (ARB) has climbed over 77% in the past month alongside improving on-chain metrics.
Arbitrum’s total value locked recently surpassed $2.5 billion, more than double its amount in January 2023.
Meanwhile, active addresses and trading volumes on the Ethereum Layer 2 chain have trended upwards since January 7.
With Arbitrum dominating nearly half of the Layer 2 ecosystem, further price gains for the ARB price seem plausible.
As the crypto market shows continued signs of recovery, presales like Sponge V2 Token and Bitcoin Minetrix offer alternatives to diversify portfolios beyond established coins.
These up-and-coming crypto projects are generating buzz for their ambitious roadmaps and potential to gain traction in 2024 and beyond.
While at higher risk, their presale pricing deals could yield major returns if the initiatives fulfill their long-term visions.
For investors searching for the best crypto to buy now, these presales provide interesting options.
BONK Price Battles Resistance, Seeking Consolidation for Next Bullish Move
Source: TradingView / BONKUSDT
The BONK price has built on the bullish momentum of the past two days, continuing to move higher and setting an intraday high of $0.00001682 earlier today.
However, it appears that selling pressure around its immediate resistance level is proving to be strong, with the cryptocurrency trading lower at $0.00001400, down 1.45% so far today.
It seems that further consolidation around these levels and above the 20-day EMA is necessary for BONK to muster up strength for its next potential leg up.
Looking at the key BONK technical indicators, the 20-day EMA stands at $0.00001364, slightly above the 50-day EMA of $0.00001200.
Typically, when the short-term EMA crosses above the long-term EMA, it is seen as a bullish sign.
However, the closeness of these EMAs suggests some volatility and uncertainty in the BONK price.
Investors should be cautious about making moves based on this indicator alone.
The RSI currently stands at 51.43, down from yesterday’s reading of 52.10.
With the RSI moving away from overbought territory above 70, this indicates the BONK price may be due for consolidation after its recent gains.
The MACD histogram is at -0.0000003281, a decrease from the previous day’s -0.0000005263.
This shrinking negative value hints that the bearish momentum is losing steam, which could pave the way for a BONK price bounce.
In terms of key price levels, the BONK price faces resistance between $0.00001499 and $0.00001565. Overcoming this zone could propel BONK higher.
Support lies at the 20-day EMA of $0.00001364, followed by the established horizontal support between $0.00001282 and $0.00001358.
Moving forward, BONK needs to stabilize the above key support for its next leg up.
While the oversold RSI signals bounce potential, the fading volume highlights waning conviction.
Trading within defined risk limits while awaiting a clear catalyst may be wise.
A decisive break of resistance or support should set the trend.
Bulls Eyeing Upside Breakout as Optimism OP Price Challenges Key Resistance
Source: TradingView / OPUSDT
The Optimism OP price has shown strong bullish momentum over the past three days, gaining over 10% just today to reach $4.040.
This upward trajectory comes after a period of consolidation between $2.80 and $3.40.
With the OP price comfortably above its 20-day EMA of $3.395, the short-term outlook is decisively bullish.
The RSI indicator sits at 63.60, up from yesterday’s 58.32, reflecting growing positive momentum that could continue pushing the OP price higher.
The MACD histogram has improved to -0.046 from -0.079 yesterday, suggesting bullish sentiment is accelerating.
As the OP price challenges the first layer of overhead resistance between $3.640 and $3.737, bulls look poised to reclaim this zone as support.
Breaching the $3.992 to $4.183 resistance area would open the door for further upside.
With its strong multi-day uptrend intact, the OP price appears ready to test these upper boundary levels.
However, overbought RSI conditions could lead to a minor pullback first.
In summary, with its multi-day uptrend accelerating above key moving averages, the Optimism OP price looks set to retest overhead resistance levels.
Bulls remain clearly in control, but overextended technicals warrant caution and strict risk management.
The coming days will prove pivotal in determining if this rally has further room to run.
Investor Enthusiasm Soars as ARB Price Hits All-Time High: What’s Next?
Source: TradingView / ARBUSDT
After posting two consecutive days of gains, Arbitrum’s native token ARB saw its price surge to a new all-time high today amidst rising trading volumes.
With the ARB price hovering near notable resistance levels, investors are debating if this rally marks a sustainable uptrend or if a pullback may be on the horizon.
The 20-day EMA for the ARB price currently stands at $1.6789, crossing above the 50-day EMA at $1.4193.
This bullish crossover of the short-term EMA above the long-term EMA typically signals positive momentum.
The widening gap between these EMAs highlights growing enthusiasm for ARB in recent weeks.
The RSI jumped to 73.85, up markedly from yesterday’s 65.36 reading.
While not yet in overbought territory, this sharp uptick suggests the ARB price may be overextending itself short term. Some cooling off would be healthy.
The MACD histogram rose to 0.0222, building on yesterday’s 0.0088.
This upward trajectory shows bullish momentum is accelerating for the ARB price.
With the 24-hour trading volume rising to $2.4 billion, a 16.66% increase from ARB’s opening price of $1.8446, traders are enthusiastic about ARB’s upside potential.
However, the 9.2% spike in market cap to $480 million in a single day raises some yellow flags.
ARB faces immediate resistance at the Fib 0.236 level of $1.8705. More significant resistance looms between $2.0040 and $2.1202, which also aligns with the psychological $2.00 level.
Near-term support holds between $1.7013 and $1.7453, along with the Fib 0.382 level at $1.7163.
While the ARB price remains in breakout mode, overbought technical readings suggest a minor pullback may emerge.
Still, as long as ARB holds above the $1.70 support zone, the path of least resistance appears higher.
A decisive break past $2.00 resistance could trigger an extended move towards $2.50.
As we wrap up our technical analysis on established cryptos like BONK, Optimism, and Arbitrum, there are also some intriguing presale opportunities worth mentioning.
Two crypto projects stirring up buzz are Bitcoin Minetrix with its BTCMTX token and the highly-anticipated Sponge V2 Token.
Diversifying Crypto Portfolios With New Bitcoin Alternatives
The cryptocurrency market is expanding beyond just Bitcoin in 2024 as investors seek to capitalize early on promising new crypto projects that are among the top crypto buys today for potential gains.
With the cryptocurrency industry rapidly evolving, savvy investors are diversifying into cryptocurrencies that could become the next big thing.
Rather than focusing solely on Bitcoin, they are keeping a close eye on up-and-coming cryptos that exhibit potential as profitable Bitcoin alternatives.
Two crypto projects creating a stir right now are Bitcoin Minetrix and Sponge V2 Token.
These new cryptos are drawing earnest attention from investors looking for the best crypto to buy now in 2024.
While Bitcoin remains important, paying attention to promising new crypto projects makes strategic sense for investors seeking new avenues for gains.
The smartest money is diversifying into the rising cryptocurrencies that could become the next big thing.
Earn Bitcoin Mining Rewards Passively With Bitcoin Minetrix’s BTCMTX, the Best Crypto to Buy Now
With Bitcoin set to halve block rewards in April, miners are scrambling to protect bottom lines.
Meanwhile, investors are pouring millions into a new platform promising payouts despite the impending profits plunge.
Do you follow the idea of #CloudMining for $BTC?
It’s a way to mine #Bitcoin without the hassle of owning hardware.
No need for upfront costs on equipment.
Only basic tech know-how is required. pic.twitter.com/MavCGFFphW
— Bitcoinminetrix (@bitcoinminetrix) January 9, 2024
Bitcoin Minetrix seeks to open crypto mining to more users through a stake-to-mine system accessible via the BTCMTX token.
Instead of expensive mining hardware, token holders can stake BTCMTX to receive mining credits and access cloud-based hashpower.
This allows stakers to passively earn crypto mining rewards without running actual mining rigs.
BTCMTX tokens also provide staking rewards of up to 80% APY as of writing.
With a $15 million soft cap, Bitcoin Minetrix has raised over half that amount so far, raking in $8 million during its ongoing presale before officially launching.
Despite cloud mining’s infamy for scams, Bitcoin Minetrix touts on-chain transparency with blockchain-based mining credits.
The 2024 roadmap shows major exchange listings incoming alongside a mobile app, while diminishing presale bonuses create urgency to participate early.
Bitcoin Minetrix intends to resolve barriers like equipment costs and electricity bills that limit individual mining.
By staking BTCMTX, token holders can purportedly earn passive crypto income through decentralized mining.
With presales surpassing $8 million so far, Bitcoin Minetrix is sparking chatter as arguably the best crypto to buy now.
Interested investors still have time to participate before the $15 million soft cap is reached.
Sponge V2 Presale Sets Sail With Unique Staking Model – Is It the Best Crypto to Buy Now?
The developers behind Sponge V1, a meme coin that gained popularity in 2023, have announced a presale for Sponge V2 – a new token being launched as the successor to Sponge V1.
Sponge V1 achieved a peak market capitalization of over $100 million during the crypto bear market last year, rewarding early investors with 100x profits.
Sponge V2 now seeks to build on this success story with a one-of-a-kind presale model.
Some people will never understand the power of $SPONGE
Proven 100x potential
12,000+ Holders
10+ Exchanges
30k Strong community
Join #SPONGEV2 and Absorb The Damp!#Web3 #Crypto #AltcoinSeason pic.twitter.com/lmz5Dz7ZuA
— $SPONGE (@spongeoneth) January 10, 2024
The presale utilizes a stake-to-bridge process which requires participants to first purchase and stake Sponge V1 tokens in order to receive the new Sponge V2 tokens.
This permanently locks the V1 tokens, gradually replacing them with V2 tokens over a period of time.
Sponge V2 will have a maximum supply of 150 billion tokens, with a portion allocated for staking rewards, liquidity, marketing, development, and play-to-earn rewards.
The new token differentiates itself from typical presales through this unique staking model that encourages long-term investment in the project during the presale period.
For crypto investors looking for the best crypto to buy now, Sponge V2’s presale presents an intriguing opportunity.
Sponge V2 will also introduce new features including a play-to-earn crypto game, which provides utility for the token beyond just speculation.
The presale is currently open through the purchase and staking of V1 tokens on the Sponge website.
While meme coins carry higher risk due to volatility and speculative hype cycles, the success of V1 has built market anticipation for V2.
The presale and launch of Sponge V2 will serve as an important test for the project to build on the viral success of V1.
With meme coins surging in popularity in 2023, the community hopes Sponge V2 can capture similar attention.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The post Best Crypto to Buy Now January 10 – Bonk, Optimism, Arbitrum appeared first on Cryptonews.
