By CryptoNews - 4 months ago - Reading Time: 10 minutes
Best Crypto to Buy Now December 8 – Cardano, BONK, Pyth Network
ADA, BONK, and PYTH surge to new highs as investors seek the best crypto to buy now. Image by cryptonews.com.With a powerful surge so far today, the ADA price achieved a new year-to-date high, drawing the attention of analysts who endorse Cardano as one of the best cryptos to buy now.
BONK and Pyth Network followed suit with significant market movements, while ongoing crypto presales like Bitcoin ETF Token and Meme Kombat drew early investor attention.
Best Crypto to Buy Now in the News
Cardano (ADA) is showing a marked increase of nearly 20% so far today, setting a new annual high for 2023.
Breaking News : Cardano (ADA) Printed New Yearly High.
Yesterday We Uploaded A Video On YouTube And We Said : ADA Could Pump And Under 24 Hours ADA Pumped 20+% After Our Video
Cardano Enters In Top 10 TVL With A Recent Peak At $343 Million.
Cardano Launched Its Launchpad… pic.twitter.com/4tvP9CRMad
— Crypto Aman (@cryptoamanclub) December 8, 2023
This surge has pushed its market capitalization to the vicinity of $19.2 billion, accompanied by an uptick in trading volume of 164.91%.
A significant bullish breakout was noted as the price of Cardano surpassed a critical resistance level at around $0.40, over doubling from its lowest point in the previous year.
The DeFi TVL of Cardano has risen above $363 million. Currently, ADA trades near $0.55, with notable growth observed over the past few weeks.
The forecast for ADA’s future is cautiously optimistic, with some market predictions suggesting a climb towards the $1 threshold.
BONK’s price is also surging, with a notable gain of 33.39% achieved yesterday, along with an impressive rise of 216% over the past week.
Its link to the Solana blockchain has been a critical factor in its climb to the third spot among meme coins.
BONK’s trading indicators signal a bullish trend, with a current trading price of $0.5465 and a trading volume reaching $180 million.
Supported by the rising price of Solana, BONK Inu’s recent all-time high aligns with the bullish trend in the market.
The 1,196% surge in the last month has substantially expanded BONK’s market cap, which is nearing $750 million.
This surge can be attributed to the resurgence of the Solana ecosystem and the growing popularity of meme coins.
Meanwhile, Pyth Network’s token PYTH is showing signs of recovery, with technical analysis suggesting a modest bullish trend.
Pyth Price Feeds are now live on @modenetwork
Thanks to this collaboration with @optimismFND, developers on Mode now have access to real-time price feeds for digital assets, FX pairs, commodities, equities, and ETFs
Learn more below:
About Mode
Mode is an Ethereum L2… pic.twitter.com/vbPBugkOkZ
— Pyth Network (@PythNetwork) December 5, 2023
The network has also broadened its functionality, launching Pyth Price Feeds on MODE, an Ethereum L2 solution.
This move will enable developers on Mode Network to utilize Pyth’s real-time price feeds, demonstrating Pyth Network’s commitment to supporting the Web3 space growth.
Among the established cryptocurrency contenders, investors are keeping a watchful eye on fresh market entries.
Bitcoin ETF Token and Meme Kombat represent new Bitcoin alternatives, attracting early-stage interest.
These crypto presales are being scrutinized for their potential to rank among the best crypto to buy now, offering new investment opportunities in the dynamic cryptocurrency market.
ADA Price Skyrockets to $0.5465: A Momentum to Watch
Source: TradingView / ADAUSDT
The ADA price is experiencing an uptrend, surging past the pivotal $0.50 mark, a level unseen since September 2022. This vigorous ascent represents a 55% increase over the past month, with a notable 20% rise just today, positioning the ADA price at a commendable $0.5465.
Such vigorous price action has not only caught the attention of traders but also suggests a momentum that could redefine ADA’s immediate resistance and support levels.
TThe confluence of the 20-day ($0.4107), 50-day ($0.3664), and 100-day ($0.3338) EMAs below the current ADA price may be seen as layered support, indicating a strong bullish structure and potential buying areas on dips.
ADA’s RSI has soared to an elevated 85.84 from yesterday’s already-high 76.11. Traditionally, an RSI above 70 signals an overbought condition, suggesting the ADA price could be stretched and may soon face a correction or consolidation phase.
Examining the MACD histogram, we see an increase to 0.0110 from the previous day’s 0.0045. This positive momentum divergence indicates that the bullish trend is strengthening, yet the rapidity of such a shift could also hint at overexuberance in the market.
The ADA price currently grapples with a significant resistance zone that lies between $0.5125 and $0.5189, levels that coincide with the extended reverse Fib 1.236 level.
A decisive breach above these levels could catalyze further gains toward the subsequent resistance at the extended reverse Fib 1.382 level of $0.5541, and then potentially to the resistance zone stretching from $0.5700 to $0.5826, in confluence with the extended reverse Fib 1.5 level of $0.5827.
On the flip side, immediate support for the ADA price can be found at the previous swing high resistance zone, now turned support, between $0.4515 and $0.4620.
With today’s bullish price action, the area between $0.5125 to $0.5189 is expected to transition into a new support zone, potentially cushioning any retracements and serving as a springboard for future price ascents.
Investors and traders should now keep a close eye on the ADA price as it interacts with these critical technical levels. While the current momentum may entice further buying, the overbought RSI levels call for caution.
A prudent strategy might involve waiting for a retest of support zones or a consolidation pattern that could offer more favorable entry points.
As the ADA price navigates through these charted territories, market participants should be prepared for volatility and ensure that risk management protocols are in place to protect against sudden shifts in market sentiment.
BONK Price Rises Over 20% Amidst Growing Positive Momentum
Source: TradingView / BONKUSDT
The BONK price has been on a tear in recent weeks, surging to new all-time highs on expanding volume.
BONK currently trades around $0.0000121887, up over 20% so far today after reaching as high as $0.0000133299 earlier today.
Looking at the technical indicators, the bullish momentum shows no signs of letting up anytime soon.
The 20-day EMA sits at $0.0000058352 while the 50-day EMA trades at $0.0000036829. With the faster-moving exponential moving average above the slower one, the bullish EMA alignment suggests strong upside momentum.
BONK’s RSI currently reads 88.99, up from 85.96 just yesterday. While in overbought territory, the RSI can remain elevated during strong uptrends before signaling exhaustion.
The MACD histogram shows growing positive momentum at 0.0000006656, increasing from the prior reading of 0.0000004508.
BONK has support around the Fib 0.382 level at $0.0000096305. This area could attract buying interest on any pullbacks. However, given the strength of the uptrend, dips may remain shallow and brief.
On further upside, BONK faces initial resistance around its new all-time high of $0.0000133299. Beyond that, upside targets include the extended Fib -0.236 level at $0.0000156963 and Fib -0.382 at $0.0000171293. Volume remains robust, reflecting continued interest in BONK as it trends higher.
Traders should remain nimble but look to buy the dip as long as the 20-day EMA holds support. Stops could be placed below the 50-day EMA around $0.0000036829 to limit downside risk.
The trend remains strongly to the upside for BONK until clear signs of exhaustion emerge. Upside projections could reach $0.00002 or higher if momentum continues.
Pyth Network
Source: TradingView / PYTHUSDT
The PYTH price is demonstrating resilience as it trades laterally with upward momentum, nudging closer to retesting its all-time high. Amidst this movement, the PYTH Network (PYTH) has seen its price appreciate by 9.2% so far today, sitting at $0.4736.
A closer examination of the EMAs reveals a bullish signal for the PYTH price, with the 4-hour 20 EMA ($0.4584) comfortably positioned above both the 50 EMA ($0.4438) and the 100 EMA ($0.4340). Such alignment typically indicates a strong uptrend, particularly when higher time-frame EMAs align below the price.
The RSI for PYTH stands at 56.05, which points to a growing bullish momentum without touching the overbought threshold. This suggests that there is still room for the PYTH price to ascend before it faces any significant selling pressure from traders looking to capitalize on the recent price surge.
Contributing to the bullish outlook, the MACD histogram’s positive reading of 0.0027 reinforces the momentum behind PYTH’s price movement. The histogram’s value above the zero line is indicative of the upward momentum prevailing in the market, which could potentially lead to a sustained bullish phase for PYTH.
As for the trading strategy, investors closely watch the current resistance zone stretching from $0.5429 to $0.5583. A break above this level could signal a continuation of the uptrend and potentially establish new highs for the PYTH price.
On the flip side, the immediate support zone between $0.4738 and $0.4814 is being retested. This area serves as a crucial pivot for PYTH; holding above it may confirm the bullish sentiment in the market.
Market participants are recommended to pay close attention to these technical indicators for the PYTH price, as they could dictate the short-term trajectory of the asset.
A decisive move past the identified resistance or failure to hold immediate support could provide further clarity on the direction PYTH will take in the days to come.
Investors might find it prudent to set their trades in alignment with these technical levels, keeping an eye on volume and market sentiment to corroborate the signals provided by the indicators.
Trading is about finding opportunities, and while ADA, BONK, and PYTH are surging, some sense of fresh chances in yet-unknown crypto presales.
We explore Bitcoin ETF Token and Meme Kombat, both targeting areas of intrigue before reaching the open cryptocurrency market.
Seeking Overlooked Bitcoin Alternatives in the Expanding Cryptocurrency Market
While Bitcoin dominates the cryptocurrency market, many investors are searching for the next disruptive crypto projects before they gain mainstream popularity.
Getting in early on alternative cryptocurrencies that are meticulously researched can provide opportunities to secure positions for a fraction of the potential future value if the project succeeds.
Two cryptocurrency platforms, Bitcoin ETF Token, and Meme Kombat, exemplify this approach of finding overlooked Bitcoin alternatives during their early stages.
By pioneering new financial and play-to-earn models built on cutting-edge blockchain technology, these projects seek to transform their respective sectors.
Cryptocurrency presales allow early entry into lesser-known cryptocurrencies and access to innovative business models before wide market awareness.
Rather than restricting investments solely to major names like Bitcoin, incorporating select Bitcoin alternatives into portfolios provides diversification and chances for high upside.
The next surge of wealth creation may come from trailblazing crypto projects quietly building today.
Identifying those Bitcoin alternatives early and investing in presales is key to maximizing returns moving forward.
While outcomes are never guaranteed, crypto projects nearing mainstream adoption hold speculative upside potential.
BTCETF: The Best Crypto to Buy Now for ETF-Driven Gains
The crypto market is filled with excitement and anticipation that the long-awaited approval of a spot bitcoin exchange-traded fund (ETF) in the U.S. could arrive in early 2024.
Analysts cite improving macroeconomic conditions and enthusiasm from institutional investors as factors driving optimism around an imminent ETF green light from the Securities and Exchange Commission (SEC).
Bloomberg Intelligence predicts the bitcoin spot ETF market represents a $100 billion opportunity, which could unleash a flood of funds from advisers and money managers who have thus far faced barriers to crypto allocation.
The Grayscale Bitcoin trust currently trades at a 10x premium, signaling intense appetite among institutions.
In anticipation, Bitcoin ETF Token ($BTCETF) has raised over $3 million in a presale offering rewards tied to ETF milestones.
The protocol distributes up to 25% of supply via a burn mechanism when key thresholds are met, including SEC approval, the launch of a spot ETF, and bitcoin crossing $100,000.
With 13 ETF applications pending and crypto sentiment improving, analysts believe U.S. regulators face mounting pressure to satisfy surging institutional demand.
Even though some remain cautious about the repeatability of pandemic-era crypto market conditions, pent-up appetite for regulated exposure argues overwhelming tailwinds for an ETF product lie ahead.
While major alts like Solana offer potential 4x returns to previous highs, micro-cap gems like $BTCETF can generate exponentially higher potential gains from presale levels.
The project uniquely aligns incentives with the Bitcoin ETF narrative dominating crypto market news and investor attention.
Presale momentum for Bitcoin ETF Token continues to accelerate as anticipation builds and influencers take notice of one of the best crypto to buy now.
With the crypto market rally threatening to turn into a feverish bull run, under-the-radar plays like $BTCETF offer a window into asymmetric upside.
Meme Kombat: Unlocking the Potential of Memes and Gaming as the Best Crypto to Buy Now
A new cryptocurrency called Meme Kombat has raised over $2.7 million so far in its ongoing MK token presale, showing strong early interest in the project.
Meme Kombat, which is built on the Ethereum blockchain, seeks to capitalize on the popularity of meme coins by creating an engaging platform that combines memes, gaming, and crypto wagering.
Reply with a "" if you're a hodler pic.twitter.com/HsrVd9Bzxr
— Meme Kombat (@Meme_Kombat) December 7, 2023
At the core of Meme Kombat is an AI-powered battle arena where popular meme characters like Doge and Pepe the Frog face off in play-to-earn matches.
Users can bet on the outcomes of these battles and earn Meme Kombat’s native MK tokens as prizes for picking winners correctly.
Meme Kombat also features a staking system with yields up to 314% per year to incentivize holding the MK coin long-term.
The platform is structured around seasons, with the first featuring 11 characters and different game modes planned for Season 2.
Users will be able to bet both against each other and against the computer in upcoming player vs game modes.
Through this fusion of gaming, crypto betting, and staking rewards, Meme Kombat intends to create an entertaining user experience.
Meme Kombat’s presale began in late September, with 50% of the total MK supply available for purchase.
The presale uses an increasing price structure to encourage buying early. So far, the event has raised over $2.7 million from eager investors.
The impressive background of Meme Kombat’s founder Matt Whiteman has also built confidence.
With the presale ending soon, Meme Kombat is slated to list on DEX Uniswap in January to boost liquidity and accessibility.
Members of Meme Kombat’s Telegram channel believe the listing could drive further price appreciation.
By tapping into the growth of crypto gaming, Meme Kombat is positioning itself as an exciting meme coin project to watch in the GameFi space.
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 Now December 8 – Cardano, BONK, Pyth Network appeared first on Cryptonews.
Original source: CryptoNews