In recent months, we have seen the Current price of many cryptocurrencies fall. Nevertheless, many investors still remain confident in the crypto market. According to them, this bear market is the perfect time to invest in cryptocurrencies in order to make great returns. Below, we look at the 5 best crypto currencies that crypto experts say are best to buy now.
This week, there are five key cryptocurrencies to keep an eye on. These are Polygon (MATIC), Shiba Inu (SHIB), Solana (SOL), Mina Protocol (MINA) and NEO (NEO).
Despite Polygon (MATIC) often being in the green in recent days, it has a challenging task ahead of it. MATIC's price, currently trading around $0.5614, is nearing its dynamic resistance of its 20-day EMA at $0.5727. This EMA plays a crucial role in MATIC's recovery from recent lows. If MATIC can successfully break this resistance, it could be a bullish signal for a possible uptrend. But despite this, MATIC faces a crucial test as it approaches its 20-day EMA resistance.
Current price: $0.5614
Current market cap: $5,230,654,286
Applications: Layer 2 scaling solution for Ethereum
Shiba Inu (SHIB)
The Shiba Inu exchange rate is not doing as well as many investors expected. The launch of Shibarium should have created more demand for the SHIB token, resulting in a share price rise. However, this rise did not materialise, leaving Shiba Inu to be bought at a low price. Experts say this is a perfect time to invest in SHIB.
Current price: $0.000007629
Current market cap: $4,491,826,397
Applications: Originally a memecoin, but now has its own ecosystem
Solana, after recovering more than 66% from its lows around $13 per token, looks technically bullish. The SOL share price currently stands at $20.05. SOL, which powers the Solana blockchain, has recently made a breakout. The bulls are now focusing on testing key resistance levels around $20.24 and $20.55.
Current price: $20.05
Current market cap: $8,199,253,301
Applications: Blockchain for dApps and tokens
Mina Protocol (MINA)
MINA, the native token of the Mina Protocol blockchain, continues to follow a downward trend. The MINA price stands at $0.3741, and although the technical outlook for MINA remains bearish, there could be a significant mid-term gain if the cryptocurrency can break out of its bearish trendline. This makes it an interesting option for those willing to take a risk.
Current price: $0.3741
Current market cap: $360,349,003
Applications: Blockchain for dApps
After 19 days of consolidation, NEO seems poised for a possible price reversal. NEO's 20-day EMA currently stands at $7.35, just above the current NEO price of $7.32. But NEO faces a triple resistance zone between $7.90 and $8.08. NEO's rising RSI and MACD, along with an increase in trading volume and market cap, suggest growing bullish sentiment. But to confirm this potential trend reversal, NEO still needs to break through the resistance zone and stay above the 100-day EMA.
Current price: $7.32
Current market cap: $516,539,737
Applications: Blockchain for dApps and cryptocurrencies