Best Crypto to Buy Now July 12 – Mantra, Maker, Shiba Shootout
As major cryptocurrencies struggle below earlier weekly highs, with Thursday’s softer-than-expected US CPI data and subsequent boost to Fed rate cut bets having failed to deliver a meaningful lift to sentiment, traders looking for the best crypto to buy now that might deliver quick gains are scouring alt-coin markets for strong performers.
Bitcoin (BTC) was last trading near $58,000, roughly flat in the past 24 hours per CoinMarketCap.
Ethereum (ETH), meanwhile, was last changing hands just under $3,150, down a similar margin.
Bitcoins appears to be struggling amid elevated technical selling. The world’s largest crypto failed to overcome key resistance in the $59,000-$60,000 earlier this week in the form of its 200DMA and a downtrend from its early June highs.
Chart analysis suggests a retest of recent lows in the $53,000 area may be on the cards.
However, the overhang of major sellers in the market may be lessening.
The German State of Saxony has now sold off most of its BTC, which could signal a near-term easing of spot market selling.
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