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Best Crypto to Buy Now November 11 – Injective, Kava, Fantom

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INJ
INJ

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We cover some contenders for the best cryptocurrency to buy right now, potentially worth adding to your watchlist over the coming days.

The global cryptocurrency market cap has reached $1.41 trillion, reflecting an intraday rally of 0.29%. Moreover, the total market volume is $60.16 billion, witnessing a significant 38.41% decrease.

Best Crypto to Buy Now

Bitcoin currently dominates by 51.30%, marking a slight decrease of 0.27% over the day. These metrics indicate nuanced trends and shifts in trading volumes and dominance levels. 

1. Injective (INJ)

INJ’s recent rally has seen it enter the list of the best crypto to buy now. The Injective (INJ) Coin has grown substantially in the cryptocurrency market since its launch, delivering commendable returns to early investors. The Injective platform features a distinctive roadmap, with the team actively pursuing various initiatives that underpin the long-term potential of the INJ Coin.

INJ Price Chart

Moreover, INJ is listed on numerous reputable exchanges and has attracted a growing community. Thus contributing to the emergence of a new financial landscape. According to expert technical analysis, the trajectory of Injective token prices is expected to sustain an upward trend over the coming years.

Analysis of INJ Coin suggests a potential maximum price of approximately $9.32 by the end of 2023. Furthermore, the average price for the Injective Coin is projected to hover around $8.04 in 2023. However, this projection is contingent on the market’s performance.

In contrast, a bearish market scenario could result in the INJ Coin experiencing a minimum price drop to $7.64. However, a bullish rally is anticipated in the latter half of the year, potentially leading to a significant increase in the value of the Injective Coin.

2. KAVA (KAVA)

In recent weeks, Chainlink’s LINK token has witnessed substantial price volatility, marking a noteworthy 100% gain over the past month. However, the token encountered resistance at the $16 mark three days ago. This resistance has led to a pullback and subsequent consolidation around $14. 

Despite a 34% gain in the last 7 days, the increase on the current day is less than 2%. Thus prompting traders to monitor the next key level closely. Moreover, analysis suggests there is potential for LINK to surge to $20 if bulls successfully reclaim a crucial resistance point. The recent price action, characterized by an attempted breach of $16 followed by rejection and a retreat to the $14-$15 range, indicates market fatigue. 

KAVA Price Chart

Currently, LINK is trading just below the resistance level, potentially setting the stage for a breakout. A decisive move above $15.60 is a critical threshold that could transform it into support. This could potentially trigger a swift rally to $20.

The current sentiment for Kava’s price prediction is bullish, supported by a Fear & Greed Index reading of 70 (Greed). Kava’s circulating supply is 921.56M out of a maximum supply of 324.13M. Likewise, it has a yearly supply inflation rate of 228.68%, creating 641.18M KAVA last year. 

Regarding market cap rankings, Kava holds the #10 position in the DeFi Coins sector and #35 in the Layer 1 sector. Key highlights include trading above the 200-day simple moving average, making it the best crypto to buy now. It has experienced 20 green days in the last 30 days (67%). It also maintains a position of high liquidity based on its market cap.

3. Fantom (FTM)

Fantom’s co-founder Andre Cronje recently introduced an upgrade named “Sonic” to modernize blockchain technology. The upgrade addresses the prevalent speed and cost issues in networks like Ethereum and Bitcoin. Therefore, it offers a substantial 65-fold speed increase for Fantom. Sonic is strategically targeted at major financial institutions, requiring a significant stake in native FTM tokens.

FTM Price Chart

The daily price chart of Fantom shows that FTM has sustained a positive trend, surpassing the $0.286 mark. Over the last 24 hours, FTM has exhibited a bullish sentiment, although facing some pressure from bears. The intraday trading volume is $139,597,850, indicating a decrease in trading activity. FTM is trading at $0.29, reflecting a 6.18% increase in the last 24 hours.

The Relative Strength Index (RSI)-14 trend line hovers around the 77-level, signaling the current control of bulls in the price chart. The SMA-14 level suggests potential upward volatility in the hours to come.

On the 4-hour chart, FTM/USD has formed a bullish engulfing pattern. This indicates buyers have seized control of the momentum and may propel prices higher in the coming days. Should bullish momentum persist, FTM will likely test the resistance level of $0.3 in the near term.

However, the MACD trend line has formed bearish candles below the signal line. Likewise, the indicator points towards a potential negative reversal, reinforcing bearish positions. The hourly price chart further supports the idea that FTM targets $0.30. If FTM’s price remains above $0.26, it may experience upward movement and reach a new resistance level at $0.30.

4. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix, a cloud mining platform, has recently introduced tokenization as a response to concerns surrounding third-party cloud mining scams. The project aims to provide individuals with a secure and transparent method for engaging in decentralized Bitcoin (BTC) mining.

With over 400,000 BTCMTX tokens currently locked in staking, the project boasts a notable annual percentage yield (APY) of 103,225%. However, this figure is anticipated to decrease as more tokens are staked. Regarding tokenomics, Bitcoin Minetrix allocates 42.5% of BTCMTX tokens to fund mining operations. 

However, 35% of this token is earmarked for marketing efforts and the growth of BTCMTX. Additionally, 15% is set aside for community rewards to acknowledge active participation. In comparison, 7.5% is designated for BTCMTX staking rewards until the Bitcoin Minetrix cloud mining platform is developed.

The ongoing BTCMTX presale has raised over $3,801,517, offering tokens at $0.011 each. Out of the total token supply of 4 billion, 70% (2.8 billion BTCMTX) is available during the presale phase. Moreover, investors can acquire them using Ethereum (ETH) or Tether (USDT).

The minimum investment requirement is $10, ensuring accessibility to various participants. As such, potential investors may consider evaluating this opportunity before any potential price increases. Especially considering the one-day window remaining for the current token pricing. Similarly, a one-day window is left before the conclusion of the stage 6 presale.

5. Theta Network (THETA)

Theta Network has witnessed a 3% increase in price over the past year, currently trading at $1.018266. The token has consistently maintained a position above its 200-day simple moving average, signaling a positive trend. 

THETA Price Chart

In the last 30 days, Theta Network has experienced 21 green days, comprising 70% of its recent trading activity. This suggests a relatively stable and positive market performance, making THETA the best cryptocurrency to buy now. The token also boasts high liquidity, reflected in its market cap of $886.40M. Thus positioning it as a significant player with a dominance of 0.06%.

Currently, Theta Token’s circulating supply is 870.50M out of a maximum supply of 1.00B THETA. In the broader market context, it ranks 17th in the Ethereum (ERC20) Tokens sector, holds the top position in the NFT Tokens and Metaverse sectors, and stands 31st in the Layer 1 sector. Moreover, the current Fear & Greed Index is 70 (Greed), indicating a positive sentiment. 

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