As the crypto market showcases a vibrant start to December, a surge in digital asset prices has captivated investors’ attention. The momentum has been attributed to various factors, including optimism surrounding a potential Bitcoin Spot ETF approval, the anticipation of an upcoming Bitcoin halving, and favorable macroeconomic updates.

Fueling this surge further are recent dovish statements from Federal Reserve officials, bolstering confidence not only in traditional markets but also in the digital asset space. Speculation regarding a potential interest rate cut by the Federal Reserve by March 2024 has prompted market participants to turn their focus toward crypto assets.

The global crypto market cap has surged by 4.01% over the last 24 hours, now standing at $1.54 trillion, while trading volumes have spiked by 33.06% to $59.11 billion. This rally coincides with Bitcoin’s new 19-month high, reflecting growing investor confidence.

At the time of reporting, Bitcoin’s price soared by 4.97% to $41,415.79, accompanied by a staggering 57.89% surge in trading volume. Ethereum, not to be outdone, saw a 3.74% jump to $2,242.34 within the last 24 hours, with a trading volume spike of 16.08% to $11.30 billion.

In the spotlight for potential investment opportunities on December 4 are three standout cryptocurrencies: Terra Classic (LUNC), Terra (LUNA), and ORDI (ORDI), all showcasing remarkable surges and earning their spots as top gainers in the digital asset space.

Terra Classic (LUNC) Price Momentum Terra Classic, catching investors’ interest with its recent price surge, witnessed a staggering 64.84% increase over the past 24 hours, reaching $0.0002609. Trading volume skyrocketed by 251%, reaching $1.22 billion.

Breaking the $0.000142 resistance, LUNC now trades above the last support at $0.0002. Bullish sentiment prevails, highlighted by the 21-day Exponential Moving Average (EMA) resting at $0.00012. However, caution is advised as the Relative Strength Index (RSI) surged to 93, surpassing the overbought threshold at 70.

The past seven days have seen LUNC’s price surge by over 110%, with an impressive 309% spike in the last 30 days. The recent price surge may be attributed to successful Proposal 11890 passage for “Upgrade to v2.3.2” and the launch of USTC perpetual contract on Binance. Additionally, Binance’s burning of 4 billion LUNC tokens last week could have contributed to its gains.

Terra (LUNA) Emerges Terra (LUNA), another crypto within the Terra community, experienced a significant surge, marking its place among the top movers in the market on December 4. Surging by 38.27% to $1.17, its trading volume surged by 306% to $577.35 million. Notably, LUNA has soared by over 160% in the last 30 days.

Breaking the $0.000084 resistance level, LUNA now trades above the last support at $0.000098. The 50-day Simple Moving Average (SMA) at $0.000067 indicates heightened bullish sentiment. However, with the Relative Strength Index (RSI) at 78, signaling overbought conditions, caution is warranted.

It’s essential to distinguish between LUNA and LUNC. Terra Luna, the native crypto of the original Terra blockchain, underwent significant changes leading to Terra Luna 2.0. LUNA now represents the new blockchain, while Luna Classic or LUNC remains on the old one.

ORDI (ORDI) Makes Waves ORDI crypto also gained significant traction on December 4, with a notable 31% surge, trading at $42.80. Its price action formed a rising megaphone pattern on the 4-hour chart, hinting at a potential underlying bearish trend. The surge is linked to Bitcoin’s recent bullish movement beyond $41,000.

The 9-day Moving Average (MA) at $36.27 indicates bullish momentum, yet caution is advised with the RSI at 93, exceeding the overbought zone. ORDI has witnessed an impressive 112% increase in its seven-day price and a remarkable 545% surge in the last 30 days, touching its yearly high of $44 in the past 24 hours.