Best Crypto to Buy Today January 17 – Bittensor, BEAM, Chiliz

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Best Crypto to Buy Today January 17 – Bittensor, BEAM, Chiliz

With the TAO price up amidst Bittensor’s development spike, BEAM’s anniversary rally, and CHZ’s 38.78% gain for the past week, all three projects make their case for the best crypto to buy today–alongside crypto presales like Bitcoin Minetrix and Sponge V2 Token, which are also attracting attention in the crypto presale market.

Best Crypto to Buy Today in the News

Bittensor has recently witnessed an uptick in development activity, a promising sign of growth and advancement for the platform.

With this surge in innovation, Bittensor’s market capitalization has now reached $1.68 billion, allowing it to rank as the 50th largest cryptocurrency by market cap, according to Coingecko.

Despite its relatively modest daily trading volume, which hovers around $8.8 million, Bittensor’s TAO price has experienced notable price volatility.

The TAO price spiked 15.48%, soaring to a closing price of $255.85 yesterday. TAO has continued climbing, trading at $275.11 so far today–a further increase of 7.53% from yesterday’s close.

Bittensor’s price fluctuations will likely continue in the short term as the market responds to the platform’s ongoing developmental progress.

BEAM’s 11.90% surge yesterday has also caught the market’s attention. The project focuses on providing secure and private transactions for DeFi and NFTs through its blockchain protocols.

Since #Beam launched in 2019, we’ve been on a mission to reshape the #Web3 ecosystem, pushing private-by-default as the norm, in a status quo of public blockchains.

Beam’s 5th Anniversary: Kicking off 2024 with Beam Wallet 7.5

— BeamPrivacy (@beamprivacy) January 17, 2024

Coinciding with its 5th anniversary, BEAM launched Wallet 7.5 and outlined a development roadmap through 2024, underscoring the platform’s continuous progress.

Although BEAM recently saw a bullish spike, technical analysis indicates potential for near-term price declines, despite the current optimistic market sentiment.

Chiliz (CHZ) has surged 38.78% over the past week, largely fueled by the popularity of its fan engagement platform Socios.

Comments by Chiliz CEO Alexandre Dreyfus about aggressive expansion through mergers and acquisitions could further diversify and strengthen the Chiliz blockchain network.

CHZ hit a new 8-month high of $0.11190 earlier today, demonstrating its bullish daily trend.

Although it has pulled back slightly to $0.10340, CHZ remains up 0.28% today as it approaches key resistance zones.

Some profit-taking is anticipated near-term after the strong rally, which is normal technical behavior. However, the overall momentum remains bullish for Chiliz, especially as the project continues capitalizing on its unique utility in sports, entertainment, and fan engagement.

Amid these developments, new opportunities arise with crypto presales, such as Bitcoin Minetrix and Sponge V2 Token.

These projects are in their nascent stages but are already capturing attention for their growth potential.

Bittensor, BEAM, and Chiliz present compelling narratives in today’s market, each with unique developments and prospects.

Investors looking for the best crypto to buy today may consider these tokens, alongside keeping an eye on up-and-coming crypto presales like Bitcoin Minetrix and Sponge V2 Token, which offer new Bitcoin alternatives in the continuously evolving crypto space.

TAO Price Gains Momentum After Finding Support at 100-day EMA

Source: TradingView / TAOUSDT

After a month of retracing, the TAO price appears to have found support around the 100-day EMA and is potentially in its third consecutive day of gains.

The TAO price is currently trading at $274.96, up 7.47% so far today.

With the TAO price facing multiple resistance levels, will this bullish momentum continue?

The 20-day EMA for the TAO price stands at $250.99, trading below the 50-day EMA of $253.47.

Typically, the 20-day EMA trading below the 50-day EMA is seen as a bearish indicator, signaling potential weakening momentum.

However, the proximity of these EMAs highlights the potential for increased volatility in the following days for the TAO price.

Investors should be cautious about making decisions based on this indicator alone without considering other factors.

The tight clustering of the EMAs suggests a period of consolidation and indecision, rather than a clear bullish or bearish trend.

Further price action is needed to confirm the next directional move for TAO.

The RSI currently stands at 55.43, an increase from yesterday’s 50.50. Moving away from the oversold territory suggests the TAO price may see further upside.

Still, the RSI remains far from overbought levels.

The MACD histogram is at 3.40, up from yesterday’s 0.37. The positive and growing histogram suggests bullish sentiment is building for the TAO price.

The TAO price faces multiple resistance levels of $278.98 to $286.88, aligning with the Fib 0.382 level at $283.30.

Further resistance lies between $299.11 to $310.50, confluent with the Fib 0.5 level at $304.71.

Immediate support is found in the horizontal zone of $248.37 to $261.21. This aligns with the Fib 0.236 level at $256.80 as well as the 20-day and 50-day EMAs.

With the TAO price bouncing off key EMA support, momentum indicators are turning favorable.

A decisive break past the $286 resistance or below the $248 support should set the next major trend.

BEAM Price Prediction: Signs of Strength After Month-Long Consolidation

Source: TradingView / BEAMUSDT

The BEAM price has shown signs of strength in recent trading after consolidating for over a month.

Building on yesterday’s 11.90% surge, BEAM set a multi-week high of $0.023456 earlier today.

However, selling pressure around these levels appears to be prevailing, as the BEAM price pulled back to trade at $0.021530, up just 0.45% on the day.

Further retracement from current levels could push the BEAM price back into its consolidation zone.

Examining the key technical indicators provides a mixed picture of where the BEAM price may be headed next.

The 20-day EMA stands at $0.019107, remaining above the 50-day EMA of $0.016667.

This positioning of the short-term EMA above the long-term EMA is typically seen as a bullish signal.

However, with the BEAM price having fallen from its intraday peak, caution may be warranted in relying solely on this indicator.

The RSI presently reads 59.40, a slight uptick from yesterday’s 59.15.

This shows waning upward momentum, though the RSI remains outside the overbought territory.

The MACD histogram is printing 0.000131, higher than the previous day’s 0.000012.

This expanding positive value indicates building bullish sentiment, which could support further gains in the BEAM price.

With BEAM stabilizing following its rapid surge, technical gauges appear split.

Oversold RSI hints at further upside potential, yet fading volumes signal weakening conviction.

Trend-defining support resides around $0.020852, while resistance is found near $0.022767. Breaking out of this range could set BEAM’s next major move.

Monitoring price action at these levels may help traders define strategic entry and exit points.

Overbought Indicators Suggest Caution Despite CHZ Price Hitting Multi-Month Highs

Source: TradingView / CHZUSDT

The CHZ price has seen a sizable 47.83% increase from its local low of $0.06973 to current levels.

Earlier today, CHZ managed to hit a multi-month high of $0.11190 – its highest point since May 2023.

However, the CHZ price is now trading slightly lower at $0.10330, up a mere 0.08% so far today.

With the CHZ price overextended and facing immediate resistance, some profit-taking could occur in the near term.

The 20-day EMA for the CHZ price stands at $0.08672, trading above the 50-day EMA of $0.08332.

This alignment is typically viewed as a bullish indicator. However, the CHZ price is extended from these EMAs, signaling potential overbought conditions.

The RSI currently stands at 67.92, up slightly from 67.87 yesterday. This shows strong momentum in the upward direction.

However, an RSI above 70 is considered overbought territory, again indicating the CHZ price may be due for a pullback.

The MACD histogram has increased to 0.00241 from 0.00178 yesterday. The growing positive value reflects building bullish momentum, which could propel the CHZ price higher if sustained.

With the CHZ price navigating through multiple resistance zones, including $0.10456 to $0.10582 and $0.10836 to $0.1186, the path of least resistance appears to be to the downside in the near term.

On the support side, CHZ has an immediate horizontal support area of $0.10195 to $0.10341.

This zone aligns with the Fib 0.236 level at $0.10196. If the CHZ price violates this area, a steeper correction could unfold.

While the multi-month highs reflect CHZ’s upside potential, overbought technicals, and nearby resistance highlight the need for caution.

Pullbacks to key support levels may provide attractive re-entry opportunities for bullish traders.

Defending support or decisively breaking resistance should provide more clarity on CHZ’s next directional move.

Beyond charting the volatile price action of TAO, BEAM, and CHZ, anticipating the next crypto presale rockets offers an avenue to get ahead of the pack with options like Bitcoin Minetrix and Sponge V2 Token.

Expanding Your Crypto Portfolio With Bitcoin Alternatives

With the massive growth of cryptocurrencies, investors are starting to look beyond just Bitcoin to other developing cryptocurrency projects with promising potential.

Evaluating the sustained trajectories of up-and-coming cryptocurrency projects can assist investors in diversifying into pioneering and potentially profitable areas of the crypto space.

Getting in early on crypto ventures through presales before widespread adoption allows for the chance to realize gains as interest accelerates.

While Bitcoin remains a crucial holding, expanding into developing crypto projects can provide exposure to the ascending trajectories that may shape the future of the crypto industry.

Spreading investments across Bitcoin as well as rising Bitcoin alternatives permits investors to balance stability and higher growth.

As pioneering crypto options like Bitcoin Minetrix and Sponge V2 Token materialize onto the scene, now is an opportune time to diversify beyond just Bitcoin.

By allocating a portion of crypto investments to the top upstart projects with promise, investors can position themselves at the forefront of the next influx of cryptocurrencies set for lift-off.

Bitcoin Minetrix’s $8.7 Million Presale Success Implies It May Be the Best Crypto to Buy Today

A new cryptocurrency project called Bitcoin Minetrix has raised over $8.7 million in its ongoing BTCMTX token presale.

Bitcoin Minetrix intends to make crypto mining more accessible through its “Stake-to-Mine” protocol that allows holders to stake their BTCMTX tokens in exchange for cloud mining power.

Embarking on a new era of cloud mining with #BitcoinMinetrix!

Users earn #BTCMTX staking credits, controlling their mining power.

Ethereum's smart contracts provide auto-managed, decentralized allocations for a secure experience.

— Bitcoinminetrix (@bitcoinminetrix) January 16, 2024

The presale’s early success can be attributed to Bitcoin Minetrix’s one-of-a-kind model that lowers barriers to mining Bitcoin.

Staking their BTCMTX tokens enables investors to mine Bitcoin without expensive hardware, expanding access to the most influential cryptocurrency.

Staking also incentivizes long-term holding, as staking the BTCMTX token provides staking rewards of up to 75% APY for token holders.

More than 556 million tokens have already been staked, representing around $7.1 million in value based on the current presale price.

As more tokens enter circulation, yields will decrease over time – meaning early adopters stand to benefit the most.

For risk-tolerant investors, Bitcoin Minetrix may offer the best crypto to buy today based on its future growth prospects.

Reflecting the excitement generated by its mining protocol, social engagement for the fledgling Bitcoin Minetrix project has expanded rapidly, with its Telegram channel amassing more than 12,100 members in just months.

The upcoming bitcoin halving in April is expected to further fuel interest in Bitcoin Minetrix.

As bitcoin’s supply issuance is cut in half every four years, its price often rises – making mining more competitive and profitable.

BTCMTX holders who stake in cloud mining power could see greater payouts if Bitcoin rallies after the halving.

Given mining market growth forecasts and its Bitcoin mining solution, Bitcoin Minetrix could leverage its presale achievements and staking rewards into considerable returns when exchange listings meet investor demand.

Visit Bitcoin Minetrix Now

Sponge V2 Presale Offers Chance to Buy Promising New Meme Coin Vying for Best Crypto to Buy Today

A new meme coin called Sponge V2 has entered the presale stage, offering investors a chance to get in early on what seeks to be the next viral cryptocurrency success story.

Following in the footsteps of prior meme coin phenomena like Dogecoin, Sponge V2 builds upon its predecessor, Sponge V1, by incorporating play-to-earn features designed to incentivize active user participation.

Great news, #Spongers!

There are now over 5,185,179,255 $SPONGE tokens staked with a value of $4,329,883.63!

Plus, our holders are enjoying an impressive current APY of +300%!

Join us and absorb the damp. #SpongeV2 #Crypto #Web3 #Alts

— $SPONGE (@spongeoneth) January 17, 2024

According to details provided on the Sponge V2 website, token holders will be able to stake their holdings to earn enticing annual percentage yields of up to 310% over four years.

To ensure a smooth transition, the Sponge V2 team has implemented a bridge allowing easy conversion of the original Sponge V1 tokens into the new and improved V2 version.

Judging by the fact that over 5.1 billion V1 tokens have already been staked, there appears to be considerable enthusiasm surrounding this token upgrade.

Sponge V2 intends to capitalize on this demand through clever tokenomics that emphasize staking rewards and decentralized finance utility as key use cases.

The project’s play-to-earn game, which will be offered in both free and premium versions, will enable players to earn more tokens by competing on leaderboards.

With its unique tokenomics and play-to-earn model, the Sponge V2 presale offers investors a chance to get in early on a new meme coin some speculate could rise to become one of the best cryptos to buy today.

The coming months will serve as the testing grounds for Sponge V2 to prove it has secured the community excitement and market appeal to join the ranks of successful meme cryptocurrencies.

Visit Sponge V2 Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

The post Best Crypto to Buy Today January 17 – Bittensor, BEAM, Chiliz appeared first on Cryptonews.

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