Top Altcoins To Buy On December 20: NEAR, DIA, AVAX

Investors increase their risk appetite for top altcoins in the market, featuring the likes of Avalanche (AVAX) Near Protocol (NEAR), and DIA.

Market doldrums have continued to characterize the crypto market since late last week, with Bitcoin price rising to test $44,000 resistance and falling to confirm support at $40,000. Amid the uncertainties across the market, investors have been able to identify some of the top altcoins to buy in December while speculating not only on short-term gains but also on the bull run anticipated in 2024.

Tokens like Near Protocol (NEAR), DIA, and Avalanche (AVAX) are emerging as some of the leading investments with the highest returns on Wednesday.

Top Altcoins Rally As ETF Approval Approaches

The United States Securities and Exchange Commission (SEC) is expected to greenlight the first Bitcoin spot exchange-traded funds (ETFs) in January. The anticipation for this initial approval has been driving crypto prices since mid-October.

Analysts like @CryptoBusy believe that the “Bitcoin spot ETF is a 99.9% done deal.” He argues that the market doldrums being witnessed stem from institutions “creating FUD so that they can enter at a much lower price.”

Crypto prices are expected to explode following the approval in January led by Bitcoin price. Investors may want to consider booking early positions in top altcoins, starting with the likes of NEAR, DAI, and AVAX.

Near Protocol Tops The Lists Of Top Altcoins To Buy In December

Near Protocol price increased by 26% on Wednesday to $3, following the continuation of the previous uptrend above a flag pattern as shown on the chart below.

The token known for supporting blockchain developers’ initiatives as they strive to build and distribute decentralized applications (dApps) on different protocols tapping the services of the “Blockchain Operating System,” is down 85% from the all-time high of $20.

Near Protocol has in the last week seen its value increase by 35%, which cumulatively brings the total accrued gains to 32% in a fortnight and 45% over the last month.

Traders yet to enter long positions in NEAR should consider waiting until the price confirms a higher support, preferably above $3. This support would call on holders to buy more NEAR tokens while speculating on a breakout aiming for $10 before year-end and the ATH in 2024.

Near Protocol price chart | Tradingview

The Money Flow Index (MFI) backs the bullish thesis in NEAR as it rises into the overbought region. With the tailwind increasing in intensity, Near Protocol remains one of the most suitable altcoins to buy in December for speculation in 2024.

Recommended for you: NEAR Protocol Surges 20% With Long Positions Dominant

DIA Explodes 55% As Investors Scoop Top Altcoins

Investing in crypto can be daunting, especially for novice investors. Therefore, handpicking projects backed by solid technologies and solving real-world problems is one of the ways to cut through the noise and identify tokens likely to rally.

DIA, a token that has rallied 55% in 24 hours to $0.5, stands out among its peers for providing developers in the blockchain realm with end-to-end oracles for web3 that are customizable, cross-chain, and transparent.

According to data posted on X, “DIA has had a very fruitful year in terms of new chain integrations and partnerships, with 40+ chains already integrated.”

The integration with Boba Network, for example, brought high-frequency oracles to $BobaETH and $BobaBNB, in turn, enhancing decentralized finance (DeFi) apps.

Other protocol integrations include Aleph Zero, Line Network, Vara Network, Base Network, and Polygon zkEVM among others.

Meanwhile, due to the overbought Relative Strength Index (RSI), some traders might consider selling DIA to lock in the gains, thus contributing to the overhead pressure the token may face at $0.5, $0.55, and $0.65.

DIA price chart
DIA price chart | Tradingview

A daily close above $5 is required to ascertain the validity of the uptrend as DIA targets highs above $1.

On the contrary, closing the day below $0.5 could compel more traders to sell in order to protect their capital and profits. If selling pressure increases, DIA might sweep through price levels like $0.4, $0.35, and $0.3 to collect more liquidity ahead of the next breakout.

Avalanche Price Prediction: Is AVAX A Hurdle Away From $100?

Investors are snatching Avalanche (AVAX) from the ‘prime altcoins shelves’ causing a massive rally, witnessing gains from $9 in October to $44 at the time of writing.

The uptrend can be attributed to the solid technology and the vibrant ecosystem backing Avalanche, but most importantly the fear of missing out (FOMO). Investors perceive AVAX as top among altcoins likely to explode during the bull run in 2024, considering its all-time high of $144.

Avalanche price chart
Avalanche price chart | Tradingview

While the uptrend seems intact, a break above $45 — the immediate resistance would go a long way to confirm the bullish theory. More investors would be interested in buying AVAX as long as higher support has been secured to allow them to speculate on gains to $100.

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About the Author: Daniel