In Friday morning trading, the Dow Jones Industrial Average dropped 260 points to 32,960.53, and the S&P 500 and NASDAQ Composite followed with their own drops of 34 points and 115 points respectively before rising again slightly as of writing. If the major indices are to end their year down from where they began, it will be the first time since 2008 that all three suffer annual declines. The Dow is on pace to close -9% over the year, while both the S&P 500 and NASDAQ are projected to close -20% and -33%, respectively.
*U.S. STOCKS DROP ON FINAL TRADING DAY OF THE YEAR AS WALL STREET CLOSES OUT BRUTAL 2022$DIA $SPY $QQQ pic.twitter.com/pjxgxm4WAH
— Investing.com (@Investingcom) December 30, 2022
Meanwhile, the US dollar proceeded to have its best performance in 7 years this year, benefiting from higher interest rates. The Federal Reserve and other central banks are still taking action against inflation while also tackling supply chain issues alongside an energy crisis caused by COVID-19 and the war in Ukraine. With this backdrop, there is anticipation that the Fed funds rate will peak near 5% in the middle of next year.
The Cryptocurrency market has experienced some bullish rallies throughout this year, yet the total market capitalization is still $753 billion compared to last year’s figure of $2.1 trillion. The two majors, Bitcoin and Ethereum, have plummeted and are down 65% and 67% respectively since their all-time highs in 2021.
As we head into the new year, even bearish markets present a great opportunity to diversify your portfolio and prepare for the next bull run. The following are 5 of the best cryptos to buy today with strong fundamentals and/or promising technical analysis.
FightOut (FGHT)
Recently, investors have been captivated by the quickly rising FightOut move-to-earn (M2E) app and gym chain. In just one week of its private sale, it raised an impressive $1 million.
FightOut stands apart from other M2E apps due to its expansive scope of compatible fitness activities, which are not limited solely to steps taken. Best yet, you don’t have to spend a fortune on NFTs for the app; rather users are rewarded for leading healthy lifestyles instead of simply walking.
FightOut is revolutionizing fitness apps with its uniquely designed features. For example, users are able to monitor and compare their real-life physical accomplishments like strength, cardiovascular performance, and muscular endurance with an avatar that reflects their progress in FightOut. Additionally, a motivating online community provides participants with an opportunity to challenge others using data from within the app. As you reach your physical goals in reality, so too will you level up within FightOut–increasing your avatar’s stats in preparation for in-game fights that earn users rewards.
In late 2023, FightOut’s first gym is set to open its doors. With high calibre equipment, a health bar, and studio space as well as a co-working area that offers members extra value for their fees–it will be interesting to keep an eye on this project to see how it unfolds. Interestingly, internationally renowned athletes have already signed up to the project’s ambassador program, which will entail hosting masterclasses and other events.
FightOut’s $FGHT token has piqued the interests of numerous large investors, who can acquire bonuses up to 50% in return. The project is gaining momentum with its collaboration with some renowned partners like LBank Labs, Cryptonews.com, Transak and BlockMedia Labs for financial assistance and logistical support. With nearly $2.5 million invested in its presale thus far, it will continue through four stages where prices incrementally increase at each stage. The innovative app and strong partner and investor support make FightOut one of the best cryptos to buy today.
BitDAO (BIT)
BitDAO experienced a major surge in trading over the past 24 hours, ending the day with an impressive 20.15% spike in value. The cryptocurrency attempted to breach the resistance zone of $0.3448 and $0.3562 earlier today, but was unfortunately met with immense selling pressure that kept it at bay; subsequently causing a downturn to $0.34 levels.
BitDAO has continued its bullish momentum yesterday having seen gains of 1.81% for the day. As of writing, it sits comfortably at $0.3423, which is just above the previously established resistance level of $0.3382 set on December 14th.
Traders are advised to observe as the price attempts to break out from its resistance area of $0.3448 to $0.3562 for added confirmation. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have both recently moved into bullish territory, suggesting that the cryptocurrency may soon make a trend reversal.
If the price breaks through the resistance area, then it is likely to make a move toward its psychological target of $0.40 for a potential 12% move. If this scenario plays out, it would make BitDAO one of the best cryptos to buy today.
Dash 2 Trade (D2T)
Dash 2 Trade’s advanced trade analytics and real-time sentiment monitoring platform could revolutionize crypto trading. Equipped with comprehensive features, plus an existing active community of Learn 2 Trade, Dash 2 Trade presents investors with an attractive option in light of FTX’s failure. There is a strong need for reliable tools that can protect against scams like FTX–and Dash 2 Trade is seeking to address this demand.
The platform offers users different services such as trade signals to help investors gain an edge in the markets, listing alerts for upcoming coins, social sentiment indicators, and a presale token scoring system that evaluates projects for their potential growth and chances of success. It also includes a strategy back-testing tool for simulating different trading strategies before putting them into action.
The auto-trading feature on Dash 2 Trade connects traders to exchange APIs and allows them to execute strategies using data from multiple sources. It also tracks success rates so traders can continuously optimize their strategies even while they are under operation. This feature makes it easier for traders to stay in control while maintaining their positions in volatile markets.
With only 8 days left, Dash 2 Trade’s token presale is reaching its end–and they’ve already raised an impressive $11.4 million in funding with just 15% of tokens remaining, making Dash 2 Trade one of the best cryptos to buy today.
Terra Luna Classic (LUNC)
Terra Luna Classic is on many traders’ radar after rallying from December 22 to December 27. It attempted to break past the daily EMA 100 resistance but eventually closed just above the EMA 50 and settled for a 33% increase across the 5-day rally.
Since then, the cryptocurrency has been retracing after a bearish engulfing candle presented itself back on December 28. However, the breakdown isn’t confirmed by the volume so traders can anticipate a bounce from support.
LUNC’s price is at $0.00014110 as of writing and it is down 5.64% for the day. Plotting a Fibonacci Retracement level on its recent swing reveals the significant levels for the cryptocurrency. As observed, $0.0001385 at FIB 0.786 level may act as a support for LUNC. If the price bounces off this level, then a continuation to the upside is likely.
The primary levels of potential resistance stand at the FIB 0.618 and FIB 0.5 price points of $0.00014883 and $0.00015591, respectively.
C Charge (CCHG)
C+Charge is leveraging the transparency, security, and efficiency of the blockchain to revolutionize the EV charging industry. Through its platform, C+Charge offers users access to carbon credits, real-time information about chargers and prices, and a transparent and highly secure peer-to-peer payment system for EV charging stations.
By solving existing problems in the EV charging industry like non-transparent pricing and lack of real-time information, C+Charge is helping to make EVs more accessible. Additionally, users who charge their vehicles through C+Charge’s platform are rewarded with Carbon Credit Rewards tokens as part of the company’s rewards program, which helps to reduce their overall emissions and make their vehicles even greener.
The C+Charge team is composed of experienced professionals from the blockchain, mobility, and energy sectors. With its diverse range of skills and expertise, C+Charge is well-positioned to have success in a quickly growing industry.
Our presale is selling out fast
Don’t forget to join and buy some $CCHG before the price goes up in the next stage!
— C+Charge (@C_Charge_Token) December 28, 2022
Currently, investors can take advantage of a low initial listing price and purchase C+Charge tokens during the presale at an introductory cost of $0.013 USDT per token. The price will steadily climb through four stages until reaching its peak of $0.02350.
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