Top 5 Altcoins to Watch Out For in December 2022

Top 5 Altcoins to Watch in December 2022: Litecoin (LTC) is among the prime altcoins to watch in December. While there are not any imminent developments arising, the Litecoin value has damaged out from a long-term sample and reclaim a horizontal resistance space.

Theta Network (THETA), Chainlink (LINK) and ApeCoin (APE) have all generated bullish divergence whereas EOS (EOS) has bounced at its yearly lows.

Theta Network (THETA) Leads Altcoins To Watch

  • Price: $0.90
  • Market cap: $912,671 million
  • Rank: #45

The THETA price has decreased inside a descending parallel channel since Aug. 8. While such channels are anticipated to lead to breakouts, the worth motion inside it’s bearish. 

The THETA value broke down from the $1.05 space on Nov. 8 and has but to reclaim it. 

Despite this bearish value motion, the every day RSI has generated bullish divergence (inexperienced line) and is transferring upwards. However, it’s nonetheless beneath 50.

As a end result, the THETA value prediction is unclear. A breakout from the $1.05 resistance space and the channel’s resistance line could be bullish. In that case, the worth might start a long-term upward motion. 

Conversely, a rejection from the center of the channel or the $1.05 resistance space could be bearish. It would doubtless provoke a downward THETA motion towards the channel’s help line.

Theta v4.0.0 went into impact by a hardfork on Nov. 2. The improve improves sensible contracts by rising the utmost code measurement. This was the ultimate improve thought-about a prerequisite for the Dec. 1 launch of Metachain. The launch of Metachain will permit builders to rapidly produce and launch a sub-chain after which plug it into the primary chain. Since sub-chains perform transactions independently, this can vastly help in scaling points.

ApeCoin (APE) Could Break Out Above Resistance

  • Price: $3.86
  • Market cap: $1.406 Bn
  • Rank: #30

The APE price has decreased beneath a descending resistance line since Aug. 3. The downward motion led to a low of $2.61 on Nov. 14.

The every day RSI generated bullish divergence afterward, previous the continuing enhance, which accelerated over the previous 24 hours. The value will doubtless face sturdy resistance at $4, created by each a horizontal resistance space and the descending resistance line. Therefore, whether or not the APE value breaks out will doubtless decide the course of the longer term development. 

A profitable breakout would doubtless ship APE in direction of $5.22 – $5.83, whereas a rejection might trigger a downward motion towards new lows.

There is constructive information coming in Dec., since ApeCoin will (*5*) on Dec. 7 after an preliminary delay. It isn’t clear if this can catalyze a breakout.

Litecoin Could Experience December Rally

  • Price: $72.21
  • Market cap: $5.182 Bn
  • Rank: #13

The Litecoin price had been buying and selling inside an ascending parallel channel since June. After a protracted interval of consolidation, LTC broke out on Nov. 23 and reached a excessive of $83.66.

While there’s a bearish divergence (inexperienced line) in place, a lower has already occurred in consequence. Moreover, the LTC value bounced on the confluence of the horizontal help space and resistance line of the channel (inexperienced icon).

Therefore, whether or not it bounces or breaks down from this space will decide the course of the longer term development. In the case of the previous, the subsequent resistance could be at $100. In the case of the latter, a brand new yearly low could be anticipated.

  • Price: $6.83
  • Market cap: $3.46 Bn
  • Rank: #21

Even although the Chainlink price is buying and selling shut to its yearly lows, it has one of many extra promising setups in contrast to different altcoins. On Nov. 20, Chainlink deviated beneath the $6 help space (inexperienced circle) earlier than reclaiming it shortly afterward.

Such reclaims are sometimes adopted by important actions in the opposite course, as has been the case for Chainlink.

As a end result, the Chainlink value is primed for a Dec. rally if it doesn’t shut beneath the $6 horizontal help space.

EOS Bounces at Nearly Lows

  • Price: $0.90
  • Market cap: $968 Mn
  • Rank: #42

The EOS price broke down from an ascending help line on Oct. 7 and validated it as resistance on Nov. 5 (pink icon). It fell sharply afterward, reaching a brand new yearly low of $0.79 on Nov. 9.

The value bounced afterward, validating the $0.87 space as help.

If the bounce continues, the subsequent resistance could be at $1, created by a descending resistance line. On the opposite hand, a breakdown beneath the $0.87 space would lead to a brand new yearly low.

There can be a number of new releases in Dec. akin to EOS community Ventures, EOS Developer Hub and Antelope IBC. These might have a constructive impact on the EOS value.

For BeInCrypto’s newest crypto market evaluation, click here.

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About the Author: Daniel