Cryptocurrency analysts have announced 8 altcoin projects that can be followed in December. These 8 cryptocurrencies are likely to rally in December. cryptocoin.com We are sharing the highly anticipated altcoins by analysts.
Analysts cited altcoin projects that they expect to rise in December
The cryptocurrency market has been facing adversity for a while. Most cryptocurrencies experienced serious declines throughout 2022. In addition, various crypto companies and cryptocurrency exchanges announced their bankruptcy. As a result of all these developments, the current bear season continues to bring deep declines.
In addition, the cryptocurrency market continues to evolve every day. Although Ponzi schemes are rarely seen, the recent FTX crisis has broken the confidence of investors. Many altcoins, especially the leading cryptocurrency Bitcoin, saw decreases. However, although the bear season has been tough, analysts draw attention to these altcoins.
Theta Network (THETA) is ready to rise, according to analysts
With a market cap of $912.671 million, THETA ranks 45th among cryptocurrencies. THETA price has dropped inside a descending parallel channel pattern since August 8th. Such channels are expected to lead to breakouts. However, the price action in the altcoin is bearish. THETA price broke out of the $1.05 region on November 8. Despite this downward price action, the daily RSI has formed a bullish divergence (area indicated by the green line) and is moving upwards. However, the RSI is still below 50.
According to analysts, THETA price is not exactly predictable. After a break from the resistance area at $1.05 and the resistance line of the channel, it is likely to bounce back. In this case, the price may initiate a long-term upward movement. Conversely, a rejection from the middle of the channel or the $1.05 resistance zone is possible. As a result, the altcoin could start a downward move towards the support line.
Theta v4.0.0 went live via a Hard Fork on November 2nd. The upgrade improves Smart Contracts by increasing the maximum code size. It was the last upgrade that was considered a prerequisite for Metachain to be released on December 1. The launch of Metachain enables developers to quickly produce and launch a subchain. It then allows him to connect it to the main chain.
BAYC’s altcoin project ApeCoin (APE) is in the resistance zone
With a market cap of $1,406 Billion, APE is currently ranked 30th among cryptocurrencies. ApeCoin has fallen below a descending resistance line since August 3. After the downward move, it fell to $2.61 on 14 November. The daily RSI has formed a bullish divergence after accelerating and continuing increase over the past 24 hours.
The price is likely to face a strong resistance at $4 created by both a horizontal resistance area and a descending resistance line. Accordingly, whether there will be a rise in the APE price will show the future trend.
After a successful break, APE price is likely to move towards $5.22 to $5.83. Any rejection could cause a directional move to new lows. ApeCoin will launch its staking program on December 7th after the first delay. However, positive news is expected in December.
Can Litecoin (LTC) rally?
Litecoin, with a market capitalization of $5.182 Billion, ranks 13th among cryptocurrencies. It has been trading in an ascending parallel channel since June. After a long period of consolidation, LTC turned bullish on November 23. Then its price reached $83.66. Although there is a bearish divergence in place (green striped area) according to analysts, a regression is seen as a result.
Also, LTC experienced a bounce at the intersection of the horizontal support area of the channel and the resistance line.
Therefore, its jump or break from this area determines the direction of the future trend.
Chainlink (LINK) sees recoveries
With a market cap of $3.46 Billion, Chainlink ranks 21st by market cap. LINK continues to trade at yearly lows. However, when looking at other altcoins, it has one of the more promising positions according to analysts. On November 20, Chainlink broke below the $6 support area (the green circle area) before surging.
Style buybacks are often followed by significant moves in the other direction, as with Chainlink. All in all, Chainlink price looks set for a December rally unless it closes below the $6 horizontal support zone.
Altcoin EOSi goes to these levels
EOS, with a market cap of $968 Million, ranks 42nd. It was broken from an ascending support line on October 7. Afterwards, it confirmed this level as resistance on 5 November. Afterwards, it faced a sharp decline and fell to the lowest level of the year at $ 0.79 on November 9th. The price then bounced and confirmed the $0.87 area as support.
If the bounce continues, the next resistance will be at $1 created by a descending resistance line. According to analysts, a break below the $0.87 zone could lead to a year low. In December, EOS Network Ventures reports that it will make a few new announcements such as EOS Developer Hub and Antelope IBC. All in all, all these developments are likely to have a positive impact on the EOS price.
Solana ecosystem’s altcoin project SOL may rise again
Solana, with a Market Cap of $4,848,456,430, was created to support the use of DeFi, dApps and Smart Contracts. It uses a unique hybrid PoS and PoH technology that facilitates fast and secure transaction processing. The platform is controlled by Solana’s native altcoin SOL.
Also, Solana continues its initial pricing of $0.77 at the beginning of its journey, currently at $13.38. Solana’s altcoin currently ranks 16th among cryptocurrencies with 363,032,639.04 SOL.
Polygon (MATIC) draws attention
With a Market Cap of $7,176,817,950, Polygon is a framework and protocol for building and connecting Ethereum compatible blockchain networks. This protocol supports multi-chain Ethereum environment by classifying scalable Ethereum solutions. While the overall cryptocurrency market experienced declines following the FTX crisis, Polygon continued to hold its position.
Polygon’s altcoin MATIC continues to trade at $0.8412, according to CoinMarketCap data. Based on its current market capitalization, MATIC is currently ranked 10th.
Cosmos (ATOM), 8th altcoin expected to rise in December
With a Market Cap of $2,781,975,594, Cosmos’ primary purpose is to provide cross-chain communication. The project’s altcoin, ATOM, provides support for maintaining network security. This platform offers a wide variety of products and features that set it apart from the market’s competing options. Next-generation technology from Cosmos gives developers access to robust tools that increase the effectiveness of blockchain creation.
Cosmos is currently ranked 22nd by market cap. According to CoinMarketCap data, ATOM is currently trading at $10.16.
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