As a seasoned crypto investor with a knack for spotting trends and identifying potential gems, I can confidently say that these four altcoins – Sui (SUI), Aureal One (DLUME), Cardano (ADA), and Tron (TRX) – are worth holding onto this December.
The Altcoin Season Index (ASI) has climbed to 82, suggesting a potentially positive trend for alternative cryptocurrencies, or “altcoins,” over the coming weeks. Historically, when both the ASI and the crypto market’s fear and greed levels are increasing, the crypto markets tend to perform well. Given this optimistic forecast, here are four altcoins that might be worth holding onto in December as they could see significant growth potential.
Don’t Sell These Four Altcoins
The rising altcoin season index has led to fears that most cryptocurrencies will suffer a harsh reversal. Here are some of the top altcoins not to sell in December.
Sui (SUI)
This year, Sui’s value has significantly increased, reaching an all-time peak of $4.038. Remarkably, it has skyrocketed by approximately 415% since its lowest point in January, thanks to the robust success of its ecosystem.
On the daily chart, the coin is trying to break through the significant barrier at $3.9356, its highest point since November. Overcoming this level would disrupt a potential double-top pattern that has been developing. A double-top pattern emerges when an asset creates two high points and a connecting line, which in this instance is around $2.9834.
The Murrey Math Lines show that the Sui price has more room to run to get to the extreme overshoot level at $7.8. Therefore, the coin has a near 100% upside from the current level. You should only sell the Sui altcoin if it drops below the double top’s neckline at $2.98.
Aureal One (DLUME)
Aureal One is another digital currency with promising prospects. At the moment, it’s being offered during a pre-sale event that has drawn in numerous investors.
Aureal One intends to pioneer the development of the initial blockchain for gaming within the metaverse, an area anticipated to thrive over the coming decade. This platform will serve as a competitor to Immutable X, offering faster performance and reduced transaction fees.
It’s worth noting that the price of Aureal One tends to rise in regular intervals, which benefits early purchasers with lower costs. In fact, the price is set to surge by nearly 30% next time, implying a positive outlook for the coin both before and following its mainnet deployment.
Cardano (ADA)
Cardano, like other major cryptocurrencies, isn’t a coin you’d want to sell during the current bull market. The value of ADA has skyrocketed by an impressive 270% from its lowest point this year.
The Cardano’s Average Directional Index (ADX) has climbed up to 60, indicating a strong, upward trend, or in simpler terms, a surge in its bullish energy. This ADX, which is commonly employed to gauge the vigor of an asset’s price movement, suggests a robust rally.
The cost of Cardano continues to stay over its 50-day and 200-day average lines, suggesting a possible rise according to trend-following strategies. This could potentially drive the price of ADA up to around $2 during this cycle.
The risk for Cardano is that it has formed a rising wedge chart pattern, which could lead to a reversal.
Tron (TRX)
As an analyst, I’ve noticed a remarkable surge in the performance of Tron this year, with a significant leap to an all-time high of $0.4485 on Wednesday. This upward trend predominantly stems from its robust technicals and fundamentals. For instance, according to TokenTerminal, Tron ranks third among profitable networks within the crypto sector.
As an analyst, I observed that Tron’s value was at $0.3378 on December 5, representing a 25% decrease from its peak this week. However, I anticipate this dip to be brief as there are several factors driving the coin, which I expect will propel it upward in the forthcoming weeks.
Tron’s bull run will remain as long as it is above the 50 Weighted Moving Average (WMA) at $0.20.
Summary of the top crypto to hold
As an analyst, I’ve been examining the current market trends, particularly focusing on the rise in the Altcoin Season Index. Given this context, it seems prudent not to offload some of the top coins that are showing promising potential, such as Hedera Hashgraph, Pepe, Shiba Inu, and Chainlink.
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2024-12-05 17:22