Amid the cryptocurrency market’s ongoing volatility, three standout performers—Bittensor’s TAO, Siacoin’s SC, and LEO—have become potential opportunities for investors seeking the best crypto to buy today.
Bittensor’s TAO has shown impressive momentum, surging 15.72% over the past week while defying the broader declines across most cryptocurrencies over the same period.
Meanwhile, Siacoin’s SC token has once again set a new multi-year high, buoyed by strong demand for its decentralized cloud storage platform. SC continues breaking into new price territory in 2024 after a breakout year in 2023.
Providing stability amid the broader volatility, LEO Token has also held its ground around the $3.90 level as of late. Its ability to maintain its price point even as other cryptos experience turbulence has caught investors’ attention.
Along with established cryptos, investors may want to monitor upstart crypto presales like Bitcoin Minetrix and Launchpad XYZ, which could represent promising Bitcoin alternatives.
Best Crypto to Buy Now in the News
Bittensor’s TAO token has seen its price increase 15.59% over the past 7 days to around $252.40 as of writing. This rise comes despite broader cryptocurrency market declines of 8.60% over the same period.
What a bloody red day today. In the last 24 hours, only 4 coins in the top 100 are green:
– Bittensor (+7.4%)
– Sui (+0.4%)
– Chiliz (+1.8%)
– Siacoin (+2.0%)
Maybe it’s time to look deeper to see what is going on that is causing these coins to survive this carnage. pic.twitter.com/Z0feoTHJdp
— Bobby Ong (@bobbyong) January 23, 2024
Driving TAO’s upward momentum is growing sentiment around decentralized AI and Bittensor’s role in advancing the technology. With a current market capitalization of $1.57 billion and strong medium to long-term performance, Bittensor continues gaining traction.
Siacoin’s native SC token has seen substantial gains in January 2024 as well, increasing 93.03% and setting a new multi-year high of $0.013599 earlier today. Siancoin’s role as a platform for decentralized cloud storage solutions is driving adoption.
The token has seen active trading as well, with trading volumes hitting $57.9 million – up 17.52% so far today. This considerable liquidity shows market interest in SC as it vies to become a top decentralized storage provider.
Meanwhile, LEO Token has shown impressive stability too, standing out from the high negative volatility plaguing broader crypto markets. Its price increased just slightly, by 0.02% so far today, holding steady around $4.
Analysis of LEO underscores its long-term momentum. The token’s current trading price of $4.019 remained above its 100-day moving average.
Additionally, LEO retains a strong market presence, with trading volumes surpassing $885,000 so far today and a sizable market capitalization of $3.7 billion.
This ability to maintain its price point and momentum, even as other cryptos experience wide swings, makes LEO an intriguing option for investors. Its consistent strength heading into the new year further cements its status as a potential anchor amid market turbulence.
While established cryptos like Bittensor, Siacoin, and LEO Token attract attention, crypto presales present opportunities worth noting. Bitcoin Minetrix and Launchpad XYZ are two presales to keep on the radar as potentially worthwhile bets amid the developing crypto space.
By carefully assessing projects and deftly responding to the newest advances, investors can pinpoint the best crypto to buy today– whether an existing top act, a resurgent performer, or an up-and-coming crypto standout.
TAO Price Holds Ground: Constructive Outlook Above Support Levels
Source: TradingView / TAOUSDT
The TAO price has shown signs of consolidation around key support levels over the past week. After a steep selloff in late December, TAO found buying interest around the 100-day EMA level, which then bounced to the current price levels.
This aligns with the 50-day EMA of $252 and the Fib 0.236 level of $256.80. This area has provided a floor for the TAO price on several retests over the past few trading sessions.
The TAO price currently trades at $257, up 2.83% so far today. This bounce-off support comes as the RSI rebounds from oversold territory below 30 to its current reading of 51. The MACD histogram remains flat at 4.00, unchanged from yesterday. While the stalled momentum indicates indecision in the market, holding above the 20-day EMA of $251 paints a constructive picture.
On the upside, TAO faces initial resistance between $283 to 287, which contains the Fib 0.382 level of $283.30. Reclaiming this area that previously acted as support would open the door for a move back towards the psychological $300 level.
On the downside, trading below $256 and the 20-day EMA would put the focus back on the recent low of around $248. This demand zone served as a turning point for the recent bounce and its loss could accelerate selling pressure. The next major support zone sits around $235 where TAO found buyers previously.
With the TAO price stabilizing above key support, technical indicators remain neutral. A breakout above resistance at $278-283 or a breakdown below $248-252 would likely set the next major trend. Until then, TAO may continue to consolidate between these two key levels.
Monitoring the 50-day EMA and RSI for changes in momentum can aid in gauging future direction.
Siacoin (SC) Continues to Set New Highs but Faces Possible Pullback as Indicators Suggest Overbought Conditions
Source: TradingView / SCUSDT
The recent strong rally in Siacoin (SC) has pushed the price to overbought levels according to multiple technical indicators, suggesting a pullback may be forthcoming.
SC currently trades well above its 20-day EMA of $0.010459 and 50-day EMA of $0.008551 after surging 29.54% so far this week. With the price detached from these key moving averages, it signals that SC may be due for a correction lower toward these dynamic support levels.
The RSI for SC stands at an elevated 84.37, up from yesterday’s 82.67. This shows that SC is deeply overbought with the RSI above 70. SC’s RSI hasn’t been this overextended since November 20, 2023, right before a sizable correction took place.
Meanwhile, the MACD histogram remains positive at 0.000306, a slight uptick from yesterday’s reading of 0.000296. However, the indicator’s pace of ascent is moderating, pointing to fading bullish momentum for SC.
Given the overstretched nature of the move higher, SC traders should be cautious chasing prices at current levels. The area between $0.012092 and $0.012974 marks the first layer of potential resistance. A failure by SC to overcome this zone could precede a pullback toward its 20-day EMA of around $0.010459.
On further weakness, initial support may emerge between $0.009607 and $0.010152. But if sellers remain in control, SC could see a deeper drop towards its 50-day EMA now at $0.008551.
While the primary SC trend remains positive, overbought readings suggest a correction may be forthcoming. Traders may consider buying on dips rather than new highs given the current technical backdrop.
LEO Price Stability Continues: EMAs Cluster, Sideways Movement Persists
Source: TradingView / LEOUSDT
The LEO price has shown resilience in recent days, consolidating above the key support level of $3.990. This Fib 0.618 level of $3.990 has provided a floor for the LEO price amidst the broader cryptocurrency market downturn. With the LEO price stabilizing above this crucial support, technical indicators remain mixed on where the token may head next.
The 20-day EMA for the LEO price stands at $4.016, coming in just below the current price of $4.020. Meanwhile, the 50-day EMA sits at $3.978, with the 100-day EMA lagging further behind at $3.939. The clustering of these short and long-term EMAs points to ongoing sideways consolidation for LEO in the near term.
The RSI for LEO has ticked up slightly to 52.57 from yesterday’s 52.40 reading. This positions the oscillator firmly in neutral territory, reflecting the market’s indecision on directionality. The MACD histogram sits unchanged at -0.008, showing waning bearish momentum but not yet a definitive trend change.
With the LEO price stabilizing above the 20-day EMA and Fib 0.618 support, the path of least resistance appears higher in the short term. However, trading within defined risk limits may be prudent while awaiting a decisive breakout past resistance at $4.082 or breakdown under $3.990 support. The coming days will be pivotal in setting the next major trend for the LEO price.
While technical analysis provides insights into major cryptocurrencies, assessing developmental crypto projects like Bitcoin Minetrix and Launchpad XYZ requires a different approach. Presales allow early discounted access, but evaluating the project’s real-world utility and growth prospects is key.
Best Bitcoin Alternatives to Diversify Your Crypto Portfolio
Cryptocurrencies have disrupted finance, led by Bitcoin’s steep ascent. However, zeroing in solely on Bitcoin obscures the proliferating array of cryptocurrencies progressively gaining traction. Prudent investors are redirecting their attention to other cryptocurrencies in their presale stage before they launch.
Presales allow early access to purchase new tokens at discounted rates. Projects like Bitcoin Minetrix and Launchpad XYZ are seeing enthusiastic participation in their presales from investors enticed by the potential for returns should the ventures gain momentum post-launch. Presales often incorporate additional incentives like bonuses and giveaways to further reward early backers.
However, risks exist when backing untested ventures. Performing due diligence and evaluating the project’s real-world application is essential. Diversification remains key – balancing presale participation with holdings in established cryptocurrencies can provide stability.
Some presales falter after launch. Yet the sizable upside potential warrants measured involvement for investors open to calculated risks. These opportunities offer exposure beyond stalwarts like Bitcoin to crypto’s new frontiers.
Presales showcase the unlimited ingenuity in crypto. Canny investors leverage these prospects for outsized returns by supplementing established crypto with calculated developing crypto presales. Armed with perceptive research and sensible asset distribution, investors can tactfully navigate the dynamic cryptocurrency sphere, where opportunities feel boundless in this invigorating age.
Bitcoin Minetrix Presale Draws $9.1 Million for Its Stake-To-Mine Model: A Contender for Best Crypto to Buy Today?
The recent initial coin offering (ICO) of Bitcoin Minetrix (BTCMTX) has raised $9.12 million so far in its presale event. Bitcoin Minetrix is set to make Bitcoin mining more efficient and accessible through its pioneering approach, potentially setting new standards in the crypto-mining sector.
Cloud mining provides a convenient gateway to #Bitcoin mining, eliminating the need for technical expertise, hardware configuration, or upkeep.
Experience cost-effective mining by utilizing cutting-edge equipment, without concerns about electricity expenses or large rigs. pic.twitter.com/lAQhhNC8k9
— Bitcoinminetrix (@bitcoinminetrix) January 23, 2024
The considerable funds raised reflect strong interest in the Bitcoin Minetrix team’s vision to open Bitcoin mining to a wider audience. Per the project’s whitepaper, Bitcoin Minetrix seeks to eliminate barriers like expensive hardware and high electricity costs which have traditionally restricted mining to a relatively small group of players.
BTCMTX tokens are currently offered at a discounted price of $0.013, with the price set to increase incrementally in its ongoing token presale. The tiered structure encourages early participation, as first investors get the maximum discount versus the future exchange listing price.
With over 18,800 Twitter followers already, Bitcoin Minetrix is seeing growing community enthusiasm. Support from crypto industry figures like Michael Wrubel and Conor Kenny further validates the buzz surrounding the project’s potential.
Bitcoin Minetrix’s “Stake-to-Mine” mechanism enables participation in BTC mining without expensive hardware. Users will stake BTCMTX tokens to receive mining credits, which are exchanged for Bitcoin mining time or yield shares. The progressive approach, secured through audited smart contracts, allows crypto mining access to a wider audience by eliminating traditional barriers like hardware costs.
By tapping into surging interest in crypto mining with a lower-barrier option, Bitcoin Minetrix could be in a position for a substantial role as stakeholders evaluate the best crypto to buy today ahead of Bitcoin’s halving.
Don’t Miss out on the Best Crypto to Buy Today: Launchpad XYZ’s LPX Token Presale Ends in Less Than 24 Hours
The clock is ticking for investors seeking early entry into Launchpad XYZ’s hotly anticipated LPX token. With less than 24 hours remaining in LPX’s presale, the initiative has already netted over $2.72 million in commitments. Now the focus shifts to rumored exchange listings that could catalyze LPX’s rise to prominence.
Tomorrow marks the end of the #Launchpad XYZ Presale!
It’s your last chance to get in on the action and shape the future of crypto trading.
Don’t wait! #Crypto #Web3 #100x #Trading pic.twitter.com/7lMdQnM2ar
— Launchpad.xyz (@launchpadlpx) January 23, 2024
In the interim, crypto influencers like Alessandro De Crypto have been hyping up Launchpad XYZ’s disruptive potential in Web3. Over 3,400 Telegram users have already joined the project’s community channel too.
But what exactly does Launchpad XYZ have going for it beyond the hype?
At its core, Launchpad XYZ seeks to be a one-stop Web3 gateway to the latest and greatest blockchain initiatives across spheres like NFTs, GameFi, and the metaverse. Both amateur and seasoned crypto traders stand to benefit from the platform’s diverse features.
These include an advanced Web3 wallet, NFT DEX, and powerful analytics-driven trading tools to amplify profits. Launchpad XYZ will also incorporate a fractionalized assets marketplace for fractions of assets like property or fine art.
One standout feature is Launchpad XYZ’s proprietary Launchpad Quotient (LQ), an AI insights generator that ranks crypto assets using 400+ data points. This functionality intends to assist traders in identifying promising cryptocurrencies to purchase or trade.
Additional forthcoming capabilities like trading bots and an analytics dashboard further position Launchpad XYZ as an all-inclusive hub for crypto trading and research.
VIP access to an elite trading insights Telegram group is on the table for LPX holders too, providing actionable alpha from Launchpad XYZ’s LQ tech. For now, this group is free until the presale concludes.
Launchpad XYZ is also pioneering an NFT pass system with escalating benefits based on investment tiers. The highest “Elon” tier grants direct developer access and unlimited platform usage.
With its multifaceted offerings targeting both newbie and seasoned crypto traders, Launchpad XYZ appears primed for a splashy exchange debut. For traders seeking alpha in 2024’s upcoming bull market, the platform’s exchange listing could signal an opportune entry point to buy LPX.
With hype building ahead of the listing, some analysts already speculate whether LPX may shape up to be one of the best cryptos to buy today while its price remains low.
The post Best Crypto to Buy Today January 23 – Bittensor, Siacoin, LEO Token appeared first on Cryptonews.