Best Crypto to Buy Now July 6 - Solana, Ecoterra, Maker

Join Our Telegram channel to stay up to date on breaking news coverage

The down market always presents two opportunities to investors. First, it provides the opportunity to spot resilient assets, and two it gives the opportunity to buy the dip. Today’s market performance goes in stark contrast to what we saw in our last update of the best crypto to buy now. So far, all tokens seem to hit a glass ceiling and plunged into the red zone. Below is a quick overview of the market performance today.

The global coin market cap is up today to $1.21T, a few percent away from yesterday’s cap of $1.18 Trillion. Not only is the market cap down, but trading volume also saw a jump of 17.63% recording $35.37B in the last 24 hours. DeFi continues attracting investors’ interest, constituting 7.18% of trading volume in the last 24 hours, with a value of $2.54 billion.

Global Crypto Market Cap Chart

Surprisingly, bitcoin records an increase of 0.31% today and it continues its dominance with a 49.96% rating.

Best Crypto to Buy Now

The current trend in the market is a valid signal that it’s time to diversify into upcoming crypto assets. Arguably, the best asset to buy when looking towards hedging gains is high-value presale offerings. Ecoterra made our list for this purpose. It has shown exceptional performance in its presale so far and it’s worth checking out. Read further to learn more about it.

1. Bitcoin Cash (BCH)

After the bear market of yesterday, BCH seems to be on the rise again. Besides the increasing price, the trading volume of the asset is also on the rise. In the last 24 hours, BCH’s trading volume recorded an increase of 160%. Its price has also gone up by over 8% in the sale time frame. Generally, the gains recorded by BCH align with its month-long trend. In the last 30 days, BCH’s price has surged by close to 170%. While some investors are speculating that BCH may have reached its peak, others believe that BCH is just getting started.

What’s to be expected however is that the price of BCH is grossly influenced by the performance of BTC. And at the moment, there are speculations that the Blackrock ETC proposal might come to fruition before the close of the year. If that happens the ensuing rally would take the price of BCH into the sky. At the moment BCH is grossly underpriced. Its overall value is 46% below its launch price. The fact remains that BCH is one of the best cryptos to buy now. The RSI (14) of BCH is currently at 74. While it means that BCH is quite oversold, its moving averages remain within buying ranges. BCH has been testing the $300 price range for most of the week. However, if it’s unable to break through the resistance, it might be coming down to any moment from now. Either way, it’s still going to be a win for investors as the market prepares for the outcome of the BlackRock proposal.

2. Ethereum (ETH)

After shedding about 2% of its value in yesterday’s market, ETH seems to be gliding back to its feet. Long before the bear market of yesterday, ETH has been signaling the possibility of potential bull traps all along. Yesterday’s performance only brought out the readiness of ETH to establish support at its current price zone. It’s the third time ETH is bouncing off support in recent times. What it means is that there is a likelihood of a bull run on the horizon. Also, considering that the price moment for the last 15 days has traded sideways with difficulty settling for a specific trend.

However, with recent development across the Ethereum blockchain, and the expectation in the Ethereum community, ETH price might be headed for an uptrend after the downturn fades.

For now, the entry point of the rally is yet to become visible. In the meantime, a long-term strategy is best with ETH given that the network is headed for an upgrade in the coming months, which would have an intensely positive effect on the price of ETH. By all standards, ETH is one of the best cryptos to buy now as the rice is bound to spike in the latter part of the year.

3. Maker (MKR)

MKR continues to trade sideways after a week-long trend that took its price from $686 to $1000. It’s been making efforts to break into the $1100 zones which analysts believe could start a rally that could push the value of MKR up to $1500. However, the bears seem to be bent on gaining from the down market as the pressure almost forced the price of the MKR below the $950 price point.

In the meantime, MKR has shown intense resistance as it has found brief support at the $989 price point and might be going back to test the $1070 resistance in the days ahead. While it’s difficult to predict the exact direction of MKR price, its current trend shows it might continue its upward trend for most of the quarter. Investors can hold the token for medium-term hedging. The long-term strategy might not be safe as the maker still face resistance at the $2k zone and above, which might.

.@karpatkey has put forth a proposal to launch Spark Protocol on @gnosischain!

The formidable Maker-Gnosis strategic partnership could reach new milestones, with @GnosisDAO embracing Endgame and the launch of the first DAI-centric lending protocol on Gnosis Chain.

↓ pic.twitter.com/7PP5GlmZbv

— Maker (@MakerDAO) July 5, 2023

Besides the movement of its price across the chat, Maker is also making immense efforts to increase the use cases of its platform which is also influencing the value of its token. As of today according to the information available on its official Twitter handle, Maker is pushing the expansion of its Lending platform, the Spark Protocol, into other chains. Now might be the best time to buy some maker tokens before it enters a full-swing rally.

4. Solana (SOL)

Solana is reaching its highest price in 7 days. The asset spent most of the week below the $19 price range after briefly touching $20 in the previous week. The price drain came after Solana announced it would discontinue its Cardinal protocol which powers some of its operations including NFTs rental. The price drop seems to be on the reversal after the bear market of yesterday. As of this press time, Solana is on an uptrend that’s pushed its price to $20 and analysts are envisaging that there is still room above its trend to move up.

Looking at the RSI (14) of SOL falls returns a value of 64. It means the coin is neither oversold nor overbought at its current price range. Also, having brought down the resistance at the $19 mark, Solana might invariably be on its way to the $25 – $32 mark Buying SOL might be one of the best cryptos to buy now. Given that, there’s hardly any resistance on its way to its next price zone. However, the only constraint to the progress of SOL in the coming days is the fact that its trading volume has not seen much change in the last 24 hours. It’s currently printing an increase of 20% or less.

5. Ecoterra (ECOTERRA)

Ecoterra’s presale is still on. The project is gathering steam as it prepares to take on one of the major challenges taking our environment. With the sheer volume of waste that enters the environment daily, there is a need to take drastic and immediate measures. Ecoterra has moved to solve the problem. However, it realized that there was a need to bring everyone on board to solve the waste management problem.

With $ECOTERRA tokens, you can participate in recycling initiatives, unlock access to green activities, and even join educational classes to deepen your knowledge of sustainability ♻️📚✨

Join our #Presale now ⬇️https://t.co/1fYkPOsPYG #DeFi #RecycleToEarn #Cryptocurrency pic.twitter.com/d1sSciMIeu

— ecoterra (@ecoterraio) July 5, 2023

The move to do so births the recycle-to-earn initiative, which rewards individuals and organizations for participating in the recycling process. To bring everyone on board, it created the Ecoterra platform, which is a blockchain-based project with Ecoterra as the native token of the platform. Joining the platform and being a part of the move to clean up the world and protect the environment requires individuals to hold the Ecoterra token.

Currently, the Ecoterra token sells for $0.01, and over $5.8 million has been raised in its presale efforts. At its current pace, token holders won’t only be doing good to the environment, but also positioning to benefit from the trend.

Visite Ecoterra presale.