Some altcoins experienced significant growth in December. Many altcoins have reached new annual or all-time highs. Crypto analyst Valdrin Tahiri focuses on lesser-known tokens that are exhibiting bullish trends that indicate the potential for significant gains in the coming month.
R.S.R. price prediction: Altcoin broke out from long-term resistance
Reserve Rights (RSR) price had fallen below a descending resistance trend line since April 2021. The decline led to a low of $0.0016 in August. The price then started an upward move. Thus, it broke out of the trend line in October. At the time of the breakout, the trend line had been in place for 924 days.
Investors use the Relative Strength Index (RSI) as a momentum indicator to evaluate whether a market is overbought and whether an asset should be accumulated or sold. If the RSI value is above 50 and the trend is upward, the bulls still have the advantage. However, if the value is below 50, the opposite is true. The weekly RSI broke above the indicator 50 (green icon) as the price broke out thus legitimizing the breakout for the altcoin. If RSR continues its rise, it is possible to move towards the next resistance at $0.0100. This means a 200% increase from the current price.
Despite this bullish RSR price prediction, a close below the $0.0025 minor support would invalidate the breakout. If this happens, the altcoin price is likely to drop 50% to the nearest support at $0.002.
SNT price prediction: Has the rally started?
Status (SNT) price had fallen below a descending resistance trend line since the beginning of 2021. This decrease decreased to $0.018 in December. Subsequently, the altcoin began a slow upward move. Thus, it broke out of the trend line in October 2023. At the time of the breakout, the trend line had been in place for 900 days. Similar to the RSR, the RSI has also risen above 50 (green icon). This legitimizes the upward movement.
Following the breakout, the altcoin reclaimed the $0.041 horizontal area, validating it as support last week. If the upward move continues, it is possible for the price to reach the next resistance at $0.115. This means a 150% increase from the current SNT price.
Despite this bullish SNT price prediction, a close below the $0.041 level would invalidate the increase. SNT is then likely to drop 50% to the nearest support at $0.022.
COM price prediction: A 60% upside is on the cards for the altcoin!
BRC20.com (COM) is a BRC20 token that debuted with Ordinals (ORDI) and SATS increases this year. In December, COM made six unsuccessful attempts to break out of a descending resistance trend line (red icon). Trend lines weakened each time they were touched. Therefore, an eventual breakout from the trend line is possible.
Meanwhile, COM price moved above the $3.60 horizontal area. Also, the RSI is above 50 (green icon). These further support the rise. If a breakout occurs, it is possible for COM price to rally to the next resistance level at $6.10. This means a 60% increase in the altcoin price. Thus, COM is likely to approach its all-time high of $7.20.
Despite this bullish COM price prediction, a close below $3.60 would invalidate the possibility of a breakout. COM will then likely decline 20% to the nearest support at $3.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!