Top 5 Altcoins to Watch in December 2022: Litecoin (LTC) is one of the most notable altcoins in December. Although no progress is imminent, Litecoin price has broken out of its long-term pattern and reclaimed the horizontal resistance area.
Theta Network (THETA), Chainlink (LINK) and ApeCoin (APE) all produced bullish divergences while EOS (EOS) rebounded from year-to-date lows.
Theta Network (THETA) Attracts Altcoin Attention
- Price: $0.90
- Market cap: $912.671 billion
- Rank: #45
THETA’s price has been falling within a descending parallel channel since August 8th. Such a channel is expected to lead to a breakout, but the price action inside it is bearish.
THETA’s price plummeted from the $1.05 level on November 8th and has yet to recover.
Despite this bearish price action, the daily RSI is rising, producing a bullish divergence (green line). But still under 50.
Therefore, THETA’s price forecast is unclear. A breakout from the $1.05 resistance area and the channel resistance line will be bullish.The price may then start a long-term upward movement.
Conversely, a rejection from the middle of the channel or the $1.05 resistance area will be bearish. THETA may start moving downwards towards the channel’s support line.
Theta v4.0.0 went into effect on November 2nd through a hard fork. The upgrade improves smart contracts by increasing the maximum code size. this is, December 1st Metachain launch. The metachain launch will allow developers to quickly create and launch subchains and plug them into the main chain. Subchains execute transactions independently, which greatly helps with scaling issues.
ApeCoin (APE) May Exceed Resistance
- Price: $3.86
- Market Cap: $1.406 Bn
- Rank: #30
of APE price has been below the descending resistance line since Aug 3. The down move made it to a low of $2.61 on Nov. 14.
The daily RSI then triggered a bullish divergence, then preceded a continued uptrend that accelerated over the next 24 hours. The price may face strong resistance at $4 created by both the horizontal resistance area and the descending resistance line. Therefore, whether the APE price breaks out may determine the future direction of the trend.
A successful breakout will likely lead the APE towards $5.22-5.83, while a refusal could lead it down to new lows.
December brings good news as ApeCoin launches its staking program on December 7th after an initial delay. It’s not clear if this catalyzes breakouts.
litecoin I was able to experience the rally in December
- Price: $72.21
- Market Cap: $5.182 Bn
- Rank: #13
Litecoin’s price has been trading within an ascending parallel channel since June. After a lengthy correction, LTC broke through on November 23rd, reaching a high of $83.66.
There is a bearish divergence (green line), but a fall has already occurred as a result. Moreover, LTC price bounced off the confluence of the channel’s horizontal support area and the resistance line (green icon).
Therefore, whether it rebounds or breaks down from this area will determine the direction of the trend going forward. In the former case, the next resistance is $100. In the latter case, a new annual low is expected.
Chain link deviation and recovery
- Price: $6.83
- Market Cap: $3.46 Bn
- Rank: 2nd1
Chainlink’s price is trading near its year-to-date lows, which is one of the promising setups compared to other altcoins. On Nov. 20, Chainlink broke below his $6 support area (green circle) and quickly regained it afterwards.
Such recoveries are often followed by large movements in the opposite direction, as is the case with chain links.
As a result, chainlink prices are poised for the December rally if they don’t drop below the $6 horizontal support area.
Ios jumping near low
- Price: $0.90
- Market cap: $968 million
- Rank: 42nd
EOS price broke below the rising support line on Oct 7 and tested as resistance on Nov 5 (red icon). It then fell sharply, reaching a year-to-date low of $0.79 on November 9th.
The price then bounced back and the $0.87 area was validated as support.
If the bounce continues, the next resistance will be $1, created by the falling resistance line. On the other hand, a break below the $0.87 area will lead to new year-to-date lows.
there will be some new release EOS network Ventures, EOS Developer Hub, Antelope IBC, etc. These can have a positive impact on EOS prices.
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Disclaimer
While BeInCrypto strives to provide accurate and up-to-date information, BeInCrypto is not responsible for any factual omissions or inaccuracies. YOU AGREE AND UNDERSTAND THAT YOU MUST USE THIS INFORMATION AT YOUR OWN RISK. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.
