The crypto market has started the month with a bullish momentum, as evidenced by the ongoing surge in the prices of digital assets, providing investors with opportunities to look for the best cryptos to buy now. Meanwhile, several analysts believe that the recent rally is due to optimism over potential Bitcoin Spot ETF approval, upcoming Bitcoin halving, and other macroeconomic updates.
For instance, the recent dovish remarks from the Fed officials have fuelled investors’ confidence in the digital asset space. Now, the market participants are turning their attention to crypto assets due to speculation that the Federal Reserve could start cutting interest rates by March 2024.
The recent optimism in the financial market, let alone the crypto segment, has bumped up the global crypto market cap by 4.01% over the last 24 hours to $1.54 trillion, while its trading volume over the last 24 hours rose 33.06% to $59.11 billion. Meanwhile, the recent surge is also attributed to Bitcoin hitting a new 19-month high, amid the growing confidence of the investors.
As of writing, the Bitcoin price was up 4.97% to $41,415.79, with its trading volume soaring 57.89% to $25.01 billion. Notably, over the last 24 hours, it has touched a high of $41,710.58, its highest in about 19 months.
Simultaneously, the Ethereum price jumped 3.74% over the last 24 hours to $2,242.34, with its one-day trading volume soaring 16.08% to $11.30 billion. Meanwhile, it has also touched a yearly high of $2,262.69 in the last 24 hours.
Now, talking about the best cryptos to buy now, three cryptos have caught the eyes of the market participants with their massive surge. The tokens are Terra Classic (LUNC), Terra (LUNA), and ORDI (ORDI), respectively, that have also marked their places as the top gainers in the digital asset space on December 4.
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Terra Classic (LUNC) Price Analysis
The Terra Classic crypto has been on the investors’ radar lately, as witnessed by the recent surge in the crypto’s price. Meanwhile, as of writing, the LUNC price was up 64.84% over the past 24 hours and traded at $0.0002609, while its one-day trading volume rocketed 251% to $1.22 billion.
Terra Classic (LUNC) has recently experienced a significant surge, breaking the $0.000142 resistance and currently trading above the last support at $0.0002. The 21-day Exponential Moving Average (EMA) at $0.00012 indicates strong bullish sentiment among investors. However, caution is advised as the Relative Strength Index (RSI) stands at 93, surpassing the overbought threshold of 70.
Notably, over the last seven days, the LUNC price has added over 110%, along with a 309% surge in the past 30 days. Meanwhile, the jump in the crypto’s price could be due to the successful passing of Proposal 11890 “Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution)”, as well as Binance launching the USTC perpetual contract last week. In addition, the update over Binance burning 4 billion LUNC tokens in the prior week could also have helped gains in it.
Terra (LUNA) Price Analysis
Another crypto tied to the Terra community, LUNA has also noted significant gains, marking its position as a top mover in the crypto market on December 4. The LUNA price jumped 38.27% to $1.17 as of writing, with its trading volume soaring 306% from yesterday to $577.35 million. Notably, the crypto has added over 160% over the last 30 days.
The Terra (LUNA) has seen a remarkable upswing, surpassing the $0.000084 resistance and currently trading above the last support at $0.000098. The 50-day Simple Moving Average (SMA) at $0.000067 reflects heightened bullish sentiment among investors. With the Relative Strength Index (RSI) at 78, signaling an overbought condition, caution is warranted. The sudden price surge creates a potential opening for bears to enter the market at any moment.
Although the LUNA is also a token of the Terra ecosystem, it’s worth noting that there are some key differences between LUNA and LUNC. For context, Terra Luna, initially the native crypto of the original Terra blockchain in 2018, underwent significant changes. Facing a collapse, founder Do Kwon initiated a hard fork, giving rise to Terra Luna 2.0. The current crypto on the new blockchain is referred to as LUNA, while the one on the old blockchain is named Luna Classic or LUNC.
ORDI (ORDI) Price Analysis
The ORDI crypto also gained notable traction on December 4, as evidenced by the significant jump in its recent price. The ORDI price traded at $42.80 as of writing, with a surge of nearly 31% in its last 24-hour price.
ORDI’s price action on the 4-hour chart forms a rising megaphone pattern, hinting at a potential underlying bearish trend in the near future. The surge in price is linked to Bitcoin’s recent bullish movement surpassing $41,000. The 9-day Moving Average (MA) at $36.27 is positioned above the current trading price, indicating bullish momentum. However, caution is advised as the Relative Strength Index (RSI) stands at 93, exceeding the overbought zone.
Meanwhile, with its recent surge, the crypto has added nearly 112% in its seven-day price, along with a 545% surge in the last 30 days. Notably, the crypto has also touched its yearly high of $44 in the last 24 hours of trading.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/best-crypto-to-buy-now-on-december-4-lunc-luna-ordi/
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