By BSV, AAVE, and ARB might be the best cryptos to buy now, alongside ongoing crypto presales Sponge V2 and Meme Kombat. Image by cryptonews.com.
Select cryptocurrencies are exhibiting bullish behavior to close out the year, making them potentially among the best cryptos to buy now–with Bitcoin SV rallying nearly 80%, Aave surging alongside Ethereum, and Arbitrum’s price increasing on the heels of layer 2 optimism.
Meanwhile, ongoing crypto presales like Sponge V2 and Meme Kombat are also attracting investor attention.
Best Crypto to Buy Now in the News
Bitcoin SV’s (BSV) price has seen a notable increase, with a 53.74% rise yesterday to $76.78 and an additional 16.46% surge today to $89.30.
This upward trend has sparked discussions on the sustainability of its rapid growth.
Technical indicators suggest that while the upward movement is strong, the current conditions may be overextended.
Upbit’s share of trading volume has been pivotal for BSV’s performance, but reliance on this volume raises questions about the rally’s future.
The decentralized finance token Aave is currently priced around $117.41, with whale activities contributing to its recent price action.
A notable withdrawal of AAVE tokens from Binance by a large investor indicates a positive sentiment towards the asset.
Furthermore, Aave’s value has surged alongside Ethereum, which recently reached $2,400.
The high correlation coefficient of 0.92 between ETH and AAVE prices suggests that Aave’s future could be closely tied to Ethereum’s market movements.
Arbitrum, a layer 2 scaling solution for Ethereum, has seen a 20% increase in value in just 24 hours, a rise that aligns with the growing interest in layer 2 technologies.
The Arbitrum ecosystem has expanded, with a 50% growth in developer headcount year-over-year.
Such growth underscores the platform’s attractiveness and potential for further adoption.
I’ve posted some updates on $ARB.
Retest at $0.98 did work, continuation towards $1.35 as well and even further.
Some beautiful S/R flips, I think $1.40-1.45 should hold and we can continue to $2. pic.twitter.com/wIFEg26zq8
— Michaël van de Poppe (@CryptoMichNL) December 28, 2023
Analysts like Michael van de Poppe have a positive outlook for ARB, with expectations of a bullish continuation that could see the token approach the $2 mark.
Ethereum co-founder Vitalik Buterin’s commendation for Arbitrum as a stage 1 roll-up adds to the platform’s credibility and may influence its market performance.
With these established tokens making headlines, the crypto presales market is not far behind.
Projects like Sponge V2 and Meme Kombat are stepping into the spotlight, offering Bitcoin alternatives worth checking.
These early-stage projects are creating a buzz with their unique propositions and are being closely watched by investors considering diversifying their cryptocurrency portfolios.
As the year draws to a close, these cryptocurrencies and crypto presales demonstrate the broad selection of Bitcoin alternatives in the cryptocurrency market.
Bitcoin SV, Aave, and Arbitrum have solidified their positions as some of the best crypto to buy now, with each demonstrating unique factors that appeal to different segments of investors.
Meanwhile, presales like Sponge V2 and Meme Kombat present opportunities for those looking to get in on the ground floor of promising new crypto ventures.
BSV Price Rockets 16.46%: Resistance and Support Levels to Watch
Source: TradingView / BSVUSDT
The Bitcoin SV (BSV) price has seen an astounding rally over the past two days, with the cryptocurrency currently up by nearly 80%.
This intense surge comes amidst rising trading volumes from major South Korean cryptocurrency exchange Upbit.
However, with the spike in volume primarily originating from this singular exchange, BSV’s rally could lose momentum if conviction fades.
Examining the key BSV price technical indicators paints a mixed picture.
The 20-day EMA stands at $55.79 while the 50-day EMA sits at $51.15, with the BSV price well above both at $89.30.
Typically, a price above its short and long-term EMAs signals bullish momentum.
Meanwhile, the relative strength index (RSI) has shot up to 87.27 from 83.05 yesterday.
This shows BSV is heavily overbought, signaling the price could be due for a pullback.
The MACD histogram sits at 3.48, a sizable increase from yesterday’s 1.69.
The growing positive value indicates a strengthening bullish sentiment behind the BSV price.
With BSV stabilizing north of $80, technical indicators remain conflicted.
While overbought RSI hints at downside potential, surging volume and MACD highlight raging bullish momentum.
Trading within defined risk limits while awaiting confirmation may be wise.
A break past immediate resistance between $98.85 and $102.10 could signal an extended upswing.
Meanwhile, support at the Fib 0.236 and 0.382 levels of $84.89 and $77.38 could cushion any declines.
The near-term direction will likely hinge on whether or not conviction holds as the BSV price ventures into overbought territory.
AAVE Price Struggles to Hold Gains: Fib 0.236 Level as Immediate Resistance
Source: TradingView / AAVEUSDT
The AAVE price has seen bullish momentum for the past few days, with the cryptocurrency up over 4% so far today.
AAVE is attempting to break out past key resistance levels after setting a new year-to-date high of $129.88 earlier today.
However, the AAVE price has struggled to retain its gains and is currently trading below the Fib 0.236 level of $119.79.
This area could act as immediate resistance if AAVE closes below this level.
Examining key technical indicators shows there are mixed signals for AAVE’s price.
The 20-day EMA stands at $102.88, above the 50-day EMA of $97.18, which is typically seen as a bullish sign.
However, the closeness of these EMAs indicates high volatility and uncertainty for the AAVE price.
The RSI is currently at 71.35, up from yesterday’s 66.87 and approaching overbought territory. This suggests upward momentum is building.
Meanwhile, the MACD histogram sits at 1.25, an increase over yesterday’s 0.52. The growing positive value points to strengthening bullish sentiment.
With the AAVE price stabilizing above crucial support levels, indicators remain balanced between further upside and potential pullback.
Trading within defined risk limits while awaiting confirmation of a breakout past resistance at $119.79 or support at the Fib 0.5 level of $108.53 may be prudent.
A decisive close above the $120 resistance or a drop below the $108 support zone could set the trend for the AAVE price over the coming days. Careful risk management is key amidst the mixed signals.
ARB Struggles to Extend Higher: Potential Near-Term Weakness Ahead
Source: TradingView / ARBUSDT
The Arbitrum (ARB) price saw increased volatility yesterday after breaking out from a period of consolidation and posting gains of 13.51%.
However, despite setting a new multi-month high earlier today, ARB is struggling to extend higher so far today, pointing to potential near-term weakness.
Currently trading around $1.50, the ARB price is down 0.44% so far today. This marks a pullback after ARB hit a multi-month high of $1.6691 earlier in the session.
With the cryptocurrency facing resistance confluent with key Fib levels, ARB appears set for a potential correction.
Looking at technical indicators, the 20-day EMA for ARB stands at $1.2682, above the 50-day EMA at $1.1568.
This bullish crossover shows upside momentum in the short term. However, ARB trading back below the 20-day EMA could signal waning momentum.
The RSI for ARB is currently reading 68.41, down slightly from 69 yesterday.
This shows bullish momentum slowing despite remaining in overbought territory above 70.
The fading RSI highlights the potential for a pullback after the recent surge.
At the same time, the MACD histogram sits at 0.0308, up from 0.0288 yesterday.
The histogram growing more positive indicates bullish momentum remains intact.
However, a histogram rollover could foreshadow an ARB price drop.
With the ARB price around $1.50, the cryptocurrency is testing resistance between $1.5740 and $1.6085.
This area aligns with the Fib -0.382 level at $1.5861. A failure here signals potential downside ahead.
On support, ARB shows the previous resistance zone of $1.4188 to $1.4637 in focus.
This area could catch a pullback after flipping to support.
Below that, the Fib 0.382 and 0.236 levels around $1.35 mark the next key support zone.
Analyzing volume and market cap provides added context. ARB saw its market cap climb to $321 million, up from $308 million yesterday.
However, 24-hour trading volume fell to just $19 million. The diverging metrics highlight uncertainty.
Overall, after spiking to multi-month highs, the ARB price appears vulnerable to a pullback as bullish momentum slows.
The test of resistance confluent with extended Fib levels underscores risks. Against this backdrop, trading within defined risk limits seems prudent.
A decisive break above $1.60 resistance or a drop below $1.35 support could set the stage for the next major trending move.
In the near term, ranging could persist for ARB while awaiting the next catalyst.
While major cryptocurrencies grapple with near-term directional uncertainty, speculative crypto presales offer exposure to new ecosystems.
Sponge V2 and Meme Kombat exemplify this, merging memes and gaming with cryptocurrencies.
Navigating New Avenues in Cryptocurrency: A Look at Proming Bitcoin Alternatives
The cryptocurrency market, traditionally anchored by Bitcoin, is witnessing a growing interest in developing blockchain projects.
This trend is a departure from the usual focus on established market leaders, signaling a strategic shift among investors.
These new projects, like Sponge V2 and Meme Kombat, are increasingly catching the eye of savvy investors.
Their potential for growth in the early stages is a key factor in their rising popularity.
This shift indicates a move towards a more diversified investment approach, focusing on developmental cryptocurrencies rather than mainstream ones.
Investing in these developing crypto ventures, particularly through presale opportunities, presents a unique chance for early involvement in their growth trajectory.
For those looking to diversify their cryptocurrency portfolios, paying attention to these Bitcoin alternatives could be a wise decision.
The concept of the ‘best crypto to buy now’ is evolving. It’s no longer just about the most popular names in the market.
Bitcoin alternatives, often lesser-known but with substantial growth potential, are becoming increasingly relevant.
Sponge Token Success Sparks Excitement for Sponge V2 Presale: Is It the Best Crypto to Buy Now?
The meme coin Sponge (SPONGE) is launching a presale for its second version, Sponge V2 (SPONGEV2), coming on the heels of the success of the original meme coin in May.
The first Sponge Token saw substantial gains during the recent memecoin boom, reaching a peak market capitalization of nearly $100 million.
Now, Sponge V2 seeks to build on that momentum with an upgraded meme coin.
Important Reminder!
You must take your staked $SPONGE tokens from the V1 staking contract and stake them in our V2 smart contract.
You can do this via our website to secure your share of the V2 token once it launches. #SpongeCoin #Web3 #Crypto pic.twitter.com/u2HKxKz3cM
— $SPONGE (@spongeoneth) December 28, 2023
According to the Sponge V2 website, the new token will introduce staking rewards and a play-to-earn game.
Sponge V2 will be launching as an ERC-20 token on the Ethereum blockchain through a bridging method the team calls “stake-to-bridge.”
Holders of the original Sponge Token can stake their tokens to earn Sponge V2 tokens when they launch.
Sponge V1 tokens staked will be locked permanently in the V2 staking pool and accumulate V2 tokens over four years.
The Sponge V2 presale seeks to further capitalize on the meme coin hype and offer staking rewards of up to 613% APY to draw in buyers.
The project said on social media that the presale seeks to “absorb liquidity and establish dominance in the crypto space.”
Sponge V2 has allocated 26.93% of the token supply for bridging from V1, 43.09% for staking rewards, and 10% to centralized exchange liquidity.
The tokenomics also include allocations for marketing, game development, and play-to-earn rewards.
The original Sponge Token gained traction during the recent surge of interest in meme coins.
Now, the team behind that project is leveraging its community and marketing playbook to try and replicate the success with Sponge V2.
While meme coins remain highly speculative assets, the Sponge ecosystem has already proven it can attract substantial hype.
The Sponge V2 presale offers an opportunity for those interested in the meme coin space to get in early before the new token launches.
Meme Kombat: The Best Crypto to Buy Now for Memes and Crypto Gaming Enthusiasts
Riding the momentum of the meme coin phenomenon, a cryptocurrency startup named Meme Kombat seeks to blend memes and play-to-earn gaming.
The platform’s MK token presale has already exceeded $5 million in contributions.
We hit $5 million raised in the $MK presale
Congrats fighters! pic.twitter.com/SK5TGEuson
— Meme Kombat (@Meme_Kombat) December 28, 2023
The core of Meme Kombat is its upcoming crypto gaming platform enabling users to battle popular meme characters.
Powered by artificial intelligence and blockchain technology, the outcomes of these PvP clashes will be randomly determined.
Players can stake Meme Kombat tokens and bet on match results, earning MK token rewards when their selected meme fighter wins.
With its interactive gameplay and community focus, Meme Kombat wants to offer something new compared to typical meme coins.
The game will feature fan-favorite memes like SpongeBob, Wojak, and Shiba Inu as playable characters to attract engagement.
Leading the project are founder Matt Whiteman and his public-facing development team.
Whiteman’s credentials are viewable on LinkedIn, underscoring Meme Kombat’s commitment to transparency.
Meme Kombat’s tokenomics allocate 50% of tokens to presale participants, 30% to staking rewards, 10% to liquidity pools, and 10% to community initiatives.
This distribution intends to incentivize presale buyers to actively participate post-launch by gaming and staking their MK tokens.
While risky like any crypto investment, Meme Kombat provides a unique value proposition through its creative fusion of memes and play-to-earn gaming.
The presale’s strong momentum highlights enthusiastic demand for Meme Kombat’s interactive platform.
As the token sale enters its final stages, the closing period often gives buyers the optimal window to acquire tokens before exchange listings.
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 28 – Bitcoin SV, Aave, Arbitrum appeared first on Cryptonews.
