Bitcoin’s price skyrocketed past $75,000 on November 5 after Donald Trump secured victory in the U.S. presidential election, reigniting interest in the cryptocurrency market and prompting traders to re-enter with fresh positions.
The Open Interest (OI) for crypto derivatives increased to $45.41 billion—a 13.29% rise—according to CoinGlass.
BlackRock also reported inflows of $1.1 billion into its spot Bitcoin ETF, IBIT, after an earlier outflow of $113.3 million over two days.
Bitcoin’s rally hit a record high of $76,943, further boosting confidence in the broader cryptocurrency market.
Additionally, the Federal Reserve’s decision on November 7 to cut interest rates by 25 basis points has bolstered crypto assets.
As Bitcoin leads the charge, altcoins are drawing increased attention for their potential growth.
Below are some of the best crypto to buy now, including Cardano (ADA), Cronos (CRO), and Jupiter (JUP).
Cardano (ADA): Strong On-Chain Activity and Bullish Technical Indicators
Cardano (ADA) stands out as a top performer in the ongoing market rally.
Over the last 24 hours, ADA surged by approximately 17%, trading at $0.4331 as of writing and reaching a four-month high.
n-chain data reveals 37,892 unique ADA addresses engaged in transfers within a single day—the highest activity since September.
Additionally, transactions exceeding $100,000 hit 697 in one day, signaling heightened whale activity.
Technically, ADA’s outlook remains bullish. If ADA closes above its daily resistance at $0.445, it could rally another 45%, targeting its April 9 high of $0.624.
This aligns with the 61.8% Fibonacci retracement level, suggesting potential for further growth.
Cronos (CRO): Breaking Out with Key Partnerships and Technical Strength
Cronos (CRO) has gained traction recently, making it a strong consideration for investors.
Formerly known as Crypto.com Coin, Cronos surged following key ecosystem developments, including a new partnership with Google.
As a new validator on the Cronos network, Google has committed to supporting its developer community, adding credibility to the platform’s progress.
CRO has risen nearly 30%, reaching $0.1136 at press time.
The token has also broken out of a falling wedge pattern—a bullish signal—and climbed above its 200-day Exponential Moving Average.
These indicators suggest that CRO could target the 45% retracement level at $0.1237, marking a potential 40% upside.
Jupiter (JUP): Technical Momentum Backed by Reversal Patterns
Jupiter (JUP), a Solana-based DeFi protocol, has emerged as one of the best crypto to buy now.
Over the past month, JUP has rallied by 51.4%, surpassing key Fibonacci levels and reclaiming the $1.00 psychological mark.
Source: TradingView / JUPUSD
The token has established a bullish reversal pattern, with its recent breakout at the 38.2% Fibonacci level pointing to continued momentum.
JUP is currently trading at $1.33, with projections suggesting a move toward $1.50.
Fibonacci analysis highlights potential targets of $1.762 and even the $2.00 mark, though support at $1.0716 should be monitored in case of a retracement.
Better Alternatives to Consider
Bitcoin’s potential designation as a strategic reserve asset under Trump’s administration could fuel a new altcoin season, extending interest to even meme coins.
For investors exploring early-stage projects, crypto presales offer unique entry points into tokens before they go public.
Analysts at Cryptonews have compiled a list of meme coin presales with promising growth potential for November 2024.
18 Best New Meme Coins to Buy in November 2024
The post Best Crypto to Buy Now November 8 – Cardano, Cronos, Jupiter appeared first on Cryptonews.
