Top Crypto Picks for December 5: Stacks (STX), Conflux (CFX), and ORDI Lead Gainers Amidst Market Resilience
Crypto News – Stacks (STX), Conflux (CFX), and ORDI have emerged as the top gainers in today’s cryptocurrency market, drawing attention as some of the most promising assets to consider for investment.
Amidst the ongoing volatility in the cryptocurrency market, these three cryptocurrencies, Stacks (STX), Conflux (CFX), and ORDI, have demonstrated resilience and strong performance, making them appealing choices for investors on December 5th.
Reflecting on the recent bullish trend, the cryptocurrency market has witnessed a notable disparity in prices between the top 100 and top 200 tokens. The global cryptocurrency market now boasts a total capitalization of $1.6 trillion, with a daily trading volume of $163 billion. Bitcoin maintains its dominance at 50.7%, while Ethereum follows with a dominance of 16.5%.
Within the top 200 cryptocurrencies, Stacks (STX), Conflux (CFX), and ORDI have garnered significant attention from investors, outperforming many other altcoins in terms of trading volume and realized profits. Let’s delve into the details of these selected cryptocurrencies to understand why they are considered some of the best options to buy at the moment.
Stacks (STX) Price Prediction: A Surge of Over 30%
Stacks (STX) has experienced a remarkable surge in its price, primarily driven by sudden accumulation by large investors and increased activity from smaller traders. Notably, the token’s price had been confined below the $0.7 resistance level within a descending channel pattern.
However, on November 28th, this pattern was successfully broken after a month of consolidation. Currently, STX is trading above its 50-day Simple Moving Average (SMA), indicating a positive momentum shift. The Relative Strength Index (RSI) stands above the overbought threshold at 76, signaling a potential overvaluation.
At the time of writing, the price of Stacks (STX) was $1.11, accompanied by a 24-hour trading volume of $456 million. This represents a remarkable 31.97% increase within the past 24 hours and an impressive 76.88% surge over the last 7 days.
Conflux (CFX) Price Prediction: Fueled Optimism with Bsim Integration
Conflux (CFX) has witnessed a notable 20% price surge, likely attributed to the recent integration of Bsim on the Conflux Network. This announcement, shared within the Conflux Wechat group, has ignited optimism among investors. Breaking out of the $0.14 to $0.18 price range, the token has reached a high of $0.22.
With the 50-day Simple Moving Average (SMA) positioned below the current trading price at $0.15, Conflux (CFX) maintains a bullish outlook. However, caution is advised as the 14-day Relative Strength Index (RSI) is descending from the 70 mark, suggesting mild selling pressure.
Conflux (CFX) is currently trading at $0.211282, with a 24-hour trading volume of $340 million. This marks a substantial 24.02% increase within the last 24 hours and an impressive 39.98% gain over the past 7 days.
ORDI Price Prediction: A Remarkable Spike of Over 150%
ORDI’s price movement exhibits a rising megaphone pattern on the 4-hour chart, hinting at a potential forthcoming bearish trend. The recent surge in ORDI’s price can be attributed to Bitcoin’s bullish movement, surpassing the $41,000 mark. The Relative Strength Index (RSI) currently stands at 80, slightly down from the previous day’s 93, but it remains within the overbought territory. This sustained overbought condition raises the possibility of selling pressure, which could potentially push the price below $50.
At the time of reporting, ORDI was trading at $50.10, with a 24-hour trading volume of $10 billion. This represents a notable 15.46% gain within the last 24 hours and an astonishing 154.13% surge over the past 7 days.
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