Crypto Bulls Take Aim at $30K: Which Coins To Buy Now?

• Bitcoin’s value rose for the second day in a row, gaining 4.14% and trading at $28,401 as of writing.
• Binance was hit with a legal action from the US Commodity Futures Trading Commission (CFTC).
• Investors are advised to be cautious when choosing which digital assets to invest in, with CFX, LHINU, MASK, FGHT, OP and TARO as some of the best cryptos to buy now.

Bitcoin Gains Momentum

Bitcoin is experiencing a resurgence of bullish momentum after a temporary dip related to regulatory issues, with investors eying a fed pivot sometime this year. This has pushed Bitcoin back toward the significant $30,000 level.

Binance Hit by Legal Action

The US Commodity Futures Trading Commission (CFTC) initiated legal action against Binance on Monday which saw withdrawals of more than $1.6 billion as of writing and Bitcoin’s price hitting a 10-day low. Binance contested many of the assertions presented in the legal filing but it still had an impact on crypto traders worldwide.

Be Cautious When Investing

In light of this ever-evolving regulatory landscape surrounding cryptocurrencies, investors are advised to be cautious and conduct thorough research before investing in any digital asset. This includes considering both technical analysis and fundamentals when selecting which crypto to invest in.

Best Cryptos To Buy Now

By taking these factors into account when selecting their cryptocurrency investments, traders have identified some promising cryptos that may offer potential gains: CFX, LHINU, MASK, FGHT, OP and TARO.

Technical Indicators Show Bullish Trend

The technical indicators for Conflux (CFX) indicate a strong bullish trend for the Chinese cryptocurrency – 20-day, 50-day and 100-day EMAs show a bullish crossover pattern; RSI is 61.89 in the bullish territory above 50; MACD histogram shows decreasing bearishness with increasing buying pressure; ADX is trending upwards indicating an uptrend; Chaikin Money Flow is positive indicating strong capital inflows; plus Fibonacci Retracement levels indicate further upside potential ahead for CFX.