Bitcoin and several leading altcoins rose significantly in November and December. In the process, BTC reached a new yearly high on December 5. Crypto expert Valdrin Tahiri examines lesser-known altcoins that are exhibiting bullish trends, potentially paving the way for significant profits next month. In this regard, the expert discusses 3 hidden gem altcoin projects.
PAAL AI (PAAL): Altcoin begins its bullish cycle!
PAAL price has increased rapidly since September 15. The upward movement culminated on November 20 at an all-time high of $0.22. The speed and occurrence of the increase indicate that the price has started a new uptrend. Starting from October, reaching the ATH level, the Relative Strength Index (RSI) showed a downward trend (green).
A bearish divergence occurs when a price increase is accompanied by a decrease in momentum. As with PAAL, this is often followed by significant corrections. Following the divergence, the altcoin dropped 50%, confirming the 0.5 Fib retracement support level, which is also a horizontal support area. As a result, it is possible that the correction is complete and PAAL will continue its previous uptrend. Currently, the altcoin price is trying to break out of the horizontal resistance area at $0.16. If successful, it is possible to rise to the next resistance level at $0.29. This means a 90% increase for the token.
Despite this bullish PAAL price prediction, a rejection from the $0.16 area could trigger a 26% decline to the next closest support at $0.11.
Denet (DENT): Breaking from long-term resistance
DENT price has fallen below a descending resistance trend line since March 2021. The decline culminated in December 2022 with a low of $0.00056. Subsequently, the altcoin made several unsuccessful breakout attempts (red icons) before forming a higher bottom in August 2023. The price broke out in October after the trend line remained in place for 930 days. Breakouts from such long-term structures often precede significant upward moves.
Moreover, the weekly RSI for DENT supports the ongoing breakout. The indicator is above 50 and increasing (green icon). Both are considered signs of a bullish trend. If the altcoin continues to rise, the next closest resistance is at $0.0022. This is a target of 140% above the current price.
Despite the bullish DENT price forecast, failure to sustain the rise and the formation of a weekly bearish candlestick could put the upward move at risk. In this case, it is possible for the altcoin price to drop by 35% to $0.0006, which is the closest support.
The last hidden gem altcoin: SuperVerse (SUPER)
The last altcoin with significant upside potential in December is SuperVerse. SUPER price had fallen below the long-term descending resistance trend line since March 2021. The decline led to a low of $0.069 in October.
Since then, SUPER price has formed eight consecutive weekly bullish candlesticks. This caused a breakout from the trend line that had been in place for 960 days. The breakout is supported by the RSI, which is rising and above 50. Currently, the altcoin is trading inside the horizontal resistance area at $0.60. If SUPER breaks this level, it is possible that it could reach the next resistance at $1.75. This means that the altcoin price will increase by another 200%.
Despite this bullish SUPER price prediction, a rejection from the $0.60 area could lead to a 60% decline to the nearest support at $0.23.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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